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11-62-15
Section 11-62-15 Disposition of net earnings of authority. Every authority shall be a not-for-profit
public corporation and no part of its net earnings remaining after payment of its expenses
shall inure to the benefit of any private person, except that in the event the board of any
authority shall determine that sufficient provision has been made for the full payment of
the expenses, bonds, notes, and other obligations of such authority, then any net earnings
thereafter accruing shall be paid to the determining municipality. (Acts 1979, No. 79-332,
p. 506, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-15.htm - 876 bytes - Match Info - Similar pages
11-89A-19
Section 11-89A-19 Disposition of net earnings of authority. An authority shall be a nonprofit
corporation and no part of its net earnings remaining after payment of its expenses shall
inure to the benefit of any individual, firm, or corporation, except that in the event a board
shall determine that sufficient provision has been made for the full payment of the expenses,
bonds, and other obligations of an authority, then any portion, as determined by the board,
of the net earnings of an authority thereafter accruing may, in the discretion of the board,
be paid to one or more of its determining subdivisions. (Acts 1980, No. 80-278, p. 368, §20;
Acts 1989, No. 89-744, p. 1476, §10.)...
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11-94-16
Section 11-94-16 Disposition of net earnings. Each authority organized hereunder shall be a
nonprofit public corporation and no part of its net earnings remaining after payment of its
expenses shall inure to the benefit of any individual, firm or corporation, except that in
the event its board shall determine that sufficient provision has been made for the full payment
of the expenses, bonds and other obligations of the authority, then any net earnings of an
authority thereafter accruing shall be paid in equal amounts to its authorizing subdivisions.
(Acts 1980, No. 80-647, p. 1220, §16.)...
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22-21-337
Section 22-21-337 Disposition of earnings of authority. An authority shall be a public corporation
or authority and no part of its net earnings remaining after payment of its expenses shall
inure to the benefit of any individual, firm or corporation, except that in the event the
board shall determine that sufficient provision has been made for the full payment of the
expenses, securities and other obligations of the authority, then any portion, as determined
by the board, of the net earnings of the authority thereafter accruing may, in the discretion
of the board, be paid to one or more of its authorizing subdivisions. (Acts 1982, No. 82-418,
p. 629, §28.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-337.htm - 973 bytes - Match Info - Similar pages
11-60-14
Section 11-60-14 Disposition of net earnings of corporations. The corporation shall be a nonprofit
corporation, and no part of its net earnings remaining after payment of its expenses shall
inure to the benefit of any individual, firm, or corporation; except, that in the event the
board of directors of the corporation shall determine that sufficient provision has been made
for the full payment of expenses, bonds, and other obligations of the corporation, then any
net earnings of the corporation thereafter accruing shall, at the option of the board of directors,
be used to pay the cost of extensions and improvements to any of its projects or paid to the
municipality with respect to which the corporation was organized. (Acts 1967, Ex. Sess., No.
218, p. 264, §15.)...
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11-54-188
Section 11-54-188 Earnings of an authority. An authority shall be a nonprofit corporation and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, firm, or corporation, except that in the event a board shall determine
that sufficient provision has been made for the full payment of the expenses, bonds, and other
obligations of an authority, then any net earnings of an authority thereafter accruing shall
be paid to its authorizing municipality. (Acts 1980, No. 80-648, p. 1235, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-54-188.htm - 854 bytes - Match Info - Similar pages
11-54-93
Section 11-54-93 Disposition of net earnings of boards. The industrial development board shall
be a nonprofit corporation, and no part of its net earnings remaining after payment of its
expenses shall enure to the benefit of any individual, firm, or corporation; except, that
in the event the board of directors of the board shall determine that sufficient provision
has been made for the full payment of the expenses, bonds, and other obligations of the board,
then any net earnings of the corporation thereafter accruing shall be paid to the municipality
with respect to which the board was organized. (Acts 1949, No. 648, p. 991, §13.)...
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16-17-16
Section 16-17-16 Earnings of authority. The authority shall be a nonprofit corporation, and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, association or corporation; except, that in the event the board of directors
of the authority shall determine that sufficient provision has been made for the full payment
of the expenses, bonds and other obligations of the authority, then any net earnings thereafter
accruing shall be paid to the determining municipality or to an educational institution to
construct, operate or maintain ancillary improvements, as the board of directors may direct
by resolution. (Acts 1966, Ex. Sess., No. 222, p. 325, §16; Acts 1978, No. 841, p. 1258,
§1.)...
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16-18-18
Section 16-18-18 Earnings of authority. The authority shall be a nonprofit corporation, and
no part of its net earnings remaining after payment of its expenses shall inure to the benefit
of any individual, association or corporation, except, that in the event the board of directors
of the authority shall determine that sufficient provision has been made for the full payment
of the expenses, bonds and other obligations of the authority, then any net earnings thereafter
accruing shall be paid to the determining municipality. (Acts 1966, Ex. Sess., No. 221, p.
308, §18.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-18-18.htm - 882 bytes - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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