Alabama § 14-2-34 Dissolution

Alabama Statutes

§ 14-2-34 — Dissolution

Alabama § 14-2-34

Title 14Criminal Correctional and Detention Facilities

Ch. 2Alabama Corrections Institution Finance Authority

This text of Alabama § 14-2-34 (Dissolution) 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 § 14-2-34 (2026).

Text

When all bonds and securities issued by the authority and all obligations assumed by it under the provisions of this chapter shall have been paid in full, the then president of the authority shall thereupon execute and deliver in the name of, and in behalf of, the authority an appropriate deed or deeds, to which the seal of the authority shall be affixed and attested by the secretary of the authority, conveying all facilities and other assets then owned by the authority to the state, except that no such conveyance shall be required if the president of the authority determines that the issuance of additional bonds to finance improvements to existing facilities is contemplated. The officers of the authority may, in their discretion, at such time file with the Secretary of State a written sta

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When all bonds and securities issued by the authority and all obligations assumed by it under the provisions of this chapter shall have been paid in full, the then president of the authority shall thereupon execute and deliver in the name of, and in behalf of, the authority an appropriate deed or deeds, to which the seal of the authority shall be affixed and attested by the secretary of the authority, conveying all facilities and other assets then owned by the authority to the state, except that no such conveyance shall be required if the president of the authority determines that the issuance of additional bonds to finance improvements to existing facilities is contemplated. The officers of the authority may, in their discretion, at such time file with the Secretary of State a written statement, subscribed and sworn to by each of them, reciting the payment in full of all bonds theretofore issued by the authority and the execution and delivery of such deed or deeds, which statement shall be filed by the Secretary of State and recorded with the certificate of incorporation of the authority, and thereupon the authority shall stand dissolved.