Alabama § 11-66A-18 Dissolution of Corridor; Vesting of Title to Property of Corridor

Alabama Statutes

§ 11-66A-18 — Dissolution of Corridor; Vesting of Title to Property of Corridor

Alabama § 11-66A-18

Title 11Counties and Municipal Corporations

Ch. 66AResearch and Development Corridors

This text of Alabama § 11-66A-18 (Dissolution of Corridor; Vesting of Title to Property of Corridor) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 11-66A-18 (2026).

Text

At any time when a research and development corridor has no financial obligations or other executory agreements outstanding, its board may adopt a resolution, which shall be entered upon its minutes, declaring that the corridor shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the judge of probate with which the corridor’s certificate of incorporation is filed, the corridor shall thereupon stand dissolved, and in the event the corridor owned any property at the time of the dissolution, the title to all its properties, subject to the state constitution, thereupon shall vest in the corridor’s authorizing subdivision, or if the corridor has more than one authorizing subdivision, in the corridor’s authorizing subdivisions as tenants in common.

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At any time when a research and development corridor has no financial obligations or other executory agreements outstanding, its board may adopt a resolution, which shall be entered upon its minutes, declaring that the corridor shall be dissolved. Upon filing for record of a certified copy of the resolution in the office of the judge of probate with which the corridor’s certificate of incorporation is filed, the corridor shall thereupon stand dissolved, and in the event the corridor owned any property at the time of the dissolution, the title to all its properties, subject to the state constitution, thereupon shall vest in the corridor’s authorizing subdivision, or if the corridor has more than one authorizing subdivision, in the corridor’s authorizing subdivisions as tenants in common.