§ 41-10-322 — Conveyance of Property by Commission; Right to Possession

Alabama § 41-10-322

• Jurisdiction: Alabama
• Title 41: State Government
• Ch. 10: Authorities
• Art. 10: Alabama Space Science Exhibit Finance Authority

Text

The chair of the commission is authorized upon direction and authorization of the commission to execute and deliver, at any time and from time to time, an appropriate deed or deeds conveying to the authority:
(1) Any facilities belonging to the commission,
(2) Any unimproved real property belonging to the commission which the commission determines to be needed by the authority for the construction of facilities, and
(3) Any improved real property and any personal property associated therewith belonging to the commission which the commission determines to be needed by the authority for the construction, reconstruction, or improvement of facilities, for such consideration as the commission shall determine to be appropriate. No concurrence in the conveyance evidenced by any such deed by any state official or any other person or persons shall be necessary or prerequisite to the validity of any such conveyance.
Upon delivery of any such deed to the authority, it thereby shall be invested with all right and title that the commission had in the property conveyed thereby, subject to the right of reverter to the commission of all such property upon the dissolution of the authority provided for in Section 41-10-330 hereof. The authority shall be entitled to immediate possession of all such property upon execution of the deed thereto.

Legislative History

(Acts 1986, No. 86-546, p. 1093, §23.)