Alabama § 41-6-33 Lease, Sale, Etc., of Gifts or Donations of Real Property Authorized; Disposition of Proceeds from Sale or Rent

Alabama Statutes

§ 41-6-33 — Lease, Sale, Etc., of Gifts or Donations of Real Property Authorized; Disposition of Proceeds from Sale or Rent

Alabama § 41-6-33

Title 41State Government

Ch. 6Department of Archives and History

Art. 2Endowment Fund

This text of Alabama § 41-6-33 (Lease, Sale, Etc., of Gifts or Donations of Real Property Authorized; Disposition of Proceeds from Sale or Rent) 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 § 41-6-33 (2026).

Text

Should any gift or donation to said department be in the form of real property, it may be leased, rented or sold in the discretion of said board of trustees, but the sum received as rent or the amount received as the purchase price, in the event of sale, must be deposited to the credit of said endowment fund, and such sum shall remain intact as a part of the principal amount of such endowment fund, and the interest received from the investment thereof shall be paid in the same manner as provided in this article for the payment of interest on other moneys deposited to the credit of said endowment fund.

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Should any gift or donation to said department be in the form of real property, it may be leased, rented or sold in the discretion of said board of trustees, but the sum received as rent or the amount received as the purchase price, in the event of sale, must be deposited to the credit of said endowment fund, and such sum shall remain intact as a part of the principal amount of such endowment fund, and the interest received from the investment thereof shall be paid in the same manner as provided in this article for the payment of interest on other moneys deposited to the credit of said endowment fund.