Alabama Statutes
§ 40-9-16 — Property of Corporation or Association Formed for Social or Literary Advancement and Used in Connection with College or University
Alabama·Title 40 Revenue and Taxation·Ch. 9 Exemptions from Taxation and Licenses·Art. 1 General Provisions
The property of corporations or associations formed and organized in good faith for the social or literary advancement of their members and not for pecuniary purposes nor for individual profit and used as an adjunct of or in connection with any college or university and approved by the governing body of said college or university in this state shall be exempt from all state, county and municipal taxation, but if used for any other purpose or not as an adjunct of or in connection with any college or university it shall not be so exempt.
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Alabama § 40-9-16 (Property of Corporation or Association Formed for Social or Literary Advancement and Used in Connection with College or University) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1945, No. 127, p. 115.)
Nearby Sections
15
§ 40-1-1
Definitions§ 40-1-14
Payment of Court Costs§ 40-1-2
Lien for Taxes - Generally§ 40-1-23
Liability of Officers for Conversion