Alabama Statutes
§ 16-17A-22 — Disposition of Excess Revenues
No part of the net earnings of an authority remaining after payment of its expenses shall inure to the benefit of any person other than a university, a governmental entity, a political corporation, or any nonprofit corporation that is an organization described in Section 501(c)(3) of the Internal Revenue Code.
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Legislative History
(Act 2016-201, §22.)
Nearby Sections
15
§ 16-1-1
Definitions§ 16-1-11.5
Teacher Certification§ 16-1-16.1
Alabama Council on Family and Children§ 16-1-17
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