41-10-152
Section 41-10-152 Historical preservation authorities - To be nonprofit corporations; distribution
of net earnings. Each authority heretofore or hereafter organized pursuant to Sections 41-10-135
through 41-10-151, 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 private individual, firm or
corporation; except that in the event the governing body of any such authority shall determine
that sufficient provision has been made for the full payment of the expenses, bonds and other
obligations of such authority, then any net earnings thereafter accruing to such authority
may be paid to the State of Alabama. (Acts 1980, No. 80-659, p. 1337, §1.)...
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11-20-43
Section 11-20-43 Disposition of net earnings. 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 county with
respect to which the corporation was organized. (Acts 1977, No. 762, p. 1310, §16.)...
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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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11-97-21
Section 11-97-21 Disposition of net earnings of corporation. Every corporation 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 private person, 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 a corporation, then any net earnings of a corporation thereafter accruing shall
be paid to its determining subdivision. (Acts 1984, No. 84-314, p. 695, §21.)...
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11-95-18
Section 11-95-18 Earnings of corporation. A 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 its board shall determine
that sufficient provision has been made for the full payment of the expenses, bonds, and other
obligations of a corporation, then any portion, as determined by its board, of the net earnings
of a corporation thereafter accruing may be paid to its authorizing subdivisions in equal
shares. (Acts 1981, No. 81-338, p. 480, §18.)...
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11-54A-19
Section 11-54A-19 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, 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 the authority, then any net earnings of the authority thereafter accruing shall
be paid to the city. (Acts 1985, No. 85-683, p. 1080, §19.)...
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11-92C-19
Section 11-92C-19 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 the 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 the authority thereafter accruing shall
be paid to the authorizing subdivision or private user for the creation and maintenance of
the project. (Act 2020-72, §19.)...
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11-99A-51
Section 11-99A-51 Disposition of net earnings. The district 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 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 district, any net earnings of the corporation
thereafter accruing shall be paid to the appointing government or as otherwise provided in
the articles of incorporation or proceedings with respect to the bonds. (Act 99-446, p. 1013,
§1.)...
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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.)...
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