§ 8-26B-31 — Disposition of Funds; Alabama Athlete Agents Fund

Alabama § 8-26B-31

• Jurisdiction: Alabama
• Title 8: Commercial Law and Consumer Protection
• Ch. 26B: Revised Uniform Athlete Agents Act
• Art. 2: Commission and Disposition of Funds

Text

(a) All moneys collected for registrations and all fines collected for violations of this chapter shall be paid to the Secretary of State, who shall deposit them in a special fund in the State Treasury for the use of the commission.
(b) There is hereby created in the State Treasury a fund to be known and designated as the Alabama Athlete Agents Fund. All funds, fees, charges, costs, and collections accruing to or collected under the provisions of this chapter shall be deposited into the State Treasury to the credit of the Alabama Athlete Agents Fund.
(c) Funds now or hereafter deposited in the State Treasury to the credit of the Alabama Athlete Agents Fund may not be expended for any purpose whatsoever unless the same shall have been allotted and budgeted in accordance with Article 4 of Chapter 4 of Title 41, and only in the amounts and for the purposes provided by the Legislature in the general appropriation bill or other appropriation bills.

Legislative History

(Act 2016-415, §1.)