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16-17A-22
Section 16-17A-22 Disposition of excess revenues. No part of the net earnings of an authority
remaining after payment of its expenses shall inure to the benefit of any person other than
a university, a governmental entity, a political corporation, or any nonprofit corporation
that is an organization described in Section 501(c)(3) of the Internal Revenue Code. (Act
2016-201, ยง22.)...
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45-8-90
Section 45-8-90 Economic Development Council - Creation; composition; powers and duties. (a)(1)
For the purposes of promoting industry and trade and economic development and to assist Calhoun
County and the municipalities located therein in their pursuits therefor and to provide for
the exercise by the county and the municipalities of certain powers and authority proposed
to be granted to them by an amendment to the Constitution of Alabama, the act proposing such
amendment being adopted at the same session of the Legislature at which the act adding this
section was adopted, there is hereby created an economic development council for Calhoun County,
which council shall constitute a public corporation under the name Calhoun County Economic
Development Council. (2) This section shall be liberally construed in conformity with the
purposes. (b)(1) The powers and authorities of the Calhoun County Economic Development Council
shall be vested in and performed by a board of directors. (2) The...
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40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby approved,
adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article I. Purposes.
The purposes of this compact are to: 1. Facilitate proper determination of state and local
tax liability of multistate taxpayers, including the equitable apportionment of tax bases
and settlement of apportionment disputes. 2. Promote uniformity or compatibility in significant
components of tax systems. 3. Facilitate taxpayer convenience and compliance in the filing
of tax returns and in other phases of tax administration. 4. Avoid duplicative taxation. Article
II. Definitions. As used in this compact: 1. "State" means a state of the United
States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession
of the United States. 2. "Subdivision" means any governmental unit or special district
of a state. 3. "Taxpayer" means any corporation, partnership, firm,...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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16-17A-2
Section 16-17A-2 Definitions. For purposes of this chapter, the following terms shall have
the following meanings: (1) ACADEMIC MEDICAL CENTER. The teaching, research, and clinical
facilities provided, established, or operated by a constitutionally created public university
in the state or a university that operates a school of medicine. (2) AUTHORITY. A public corporation
organized pursuant to the provisions of this chapter. (3) BOARD. The board of directors of
an authority. (4) DIRECTOR. A member of the board of an authority. (5) GOVERNMENTAL ENTITY.
The state, a county, a municipality, or any department, agency, board, or commission of the
state, a county, or a municipality. (6) HEALTH CARE FACILITY. All property or rights in property,
real or personal, tangible or intangible, useful to an authority in its operations, including
without limitation, the following: a. Facilities necessary or desirable to the operation of
an academic medical center, one or more health sciences schools,...
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16-17A-8
Section 16-17A-8 Powers of authority. (a) An authority shall have and may exercise any power
granted nonprofit corporations under Title 10A, together with all powers incidental thereto
or necessary or desirable to the discharge thereof, including, without limitation, the following
specific powers: (1) To adopt, maintain, and amend bylaws and a corporate seal. (2) To sue
and, subject to the limitations herein, be sued; provided, however, that no authority entitled
to sovereign immunity shall be denied such immunity. (3) To acquire, construct, equip, and
operate those health care facilities it considers necessary or desirable. (4) To enter into
contracts and agreements, borrow money, incur indebtedness, and issue bonds, notes, debt securities,
or any other evidence of indebtedness. (5) To pledge the general credit of the authority or
any revenues or income of the authority to repayment of any of its indebtedness. (6) To mortgage
or pledge its health care facilities or its other assets or...
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16-17A-6
Section 16-17A-6 Board of directors. (a) Each authority shall have a board of directors composed
of the number of directors provided in the articles of incorporation. (b) All powers of an
authority shall be exercised by the board or pursuant to its authorization. (c) Except for
ex-officio directors specified in the articles of incorporation, all directors of an authority
shall be elected or appointed by the sponsoring university. The articles of incorporation
may provide that specified officers or employees of the sponsoring university shall be ex-officio
directors of an authority, so long as a majority of the directors are elected or appointed
by the sponsoring university. (d) The articles of incorporation may provide that a governmental
entity, a public corporation, or a nonprofit organization may nominate one or more directors
of an authority, provided that the number of directors elected or appointed by the sponsoring
university without nomination may never be less than a majority...
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41-16-5
Section 41-16-5 Public contracts with entities engaging in certain boycotting activities. (a)
For the purposes of this section, the following terms shall have the following meanings: (1)
BOYCOTT. To blacklist, divest from, or otherwise refuse to deal with a person or business
entity when the action is based on race, color, religion, gender, or national origin of the
targeted person or entity or is based on the fact that the boycotted person or entity is doing
business in a jurisdiction with which this state can enjoy open trade and with which the targeted
person or entity is doing business. (2) BUSINESS ENTITY. A corporation, partnership, limited
liability company, organization, or other legal entity conducting or operating any trade or
business in Alabama or a corporation, organization, or other legal entity operating in Alabama
that is exempt from taxation under Section 501(C)(3) or (4) of the Internal Revenue Code.
(3) GOVERNMENTAL ENTITY. The state or any political subdivision...
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36-25-1.3
Section 36-25-1.3 Economic development professionals. (a) Notwithstanding any provision of
law, including, but not limited to, this chapter, an individual acting as an economic development
professional is not a lobbyist, unless and until he or she seeks incentives through legislative
action in the Legislature, that are above and beyond, or in addition to, the then current
statutory or constitutional authorization. (b) For purposes of this section, an economic development
professional is an individual seeking to advance specific, good faith economic development
or trade promotion projects or related objectives for a business, chamber of commerce or similar
nonprofit economic development organization in the State of Alabama, a city, a county, a political
subdivision of the state, or a governmental corporation or authority. (c) For the purposes
of this section, the term economic development professional does not include elected officials,
legislators, nor any former legislator within two...
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16-17A-20
Section 16-17A-20 Applicability of other laws. Notwithstanding any other provision of law to
the contrary: (1) Each authority shall be exempt from all laws of the state governing usury
or prescribing or limiting interest rates, including, without limitation, the provisions of
Title 8, Chapter 8. (2) Authorities, university affiliates, members of the governing bodies
of authorities and university affiliates, and officers and employees of authorities and university
affiliates shall not be subject to state ethics laws, including, without limitation, the provisions
of Title 36, Chapter 25. (3) Meetings of the board of an authority and any committee thereof
shall not be subject to public meeting or notice requirements, including, without limitation,
the provisions of Title 36, Chapter 25A. (4) Deposits of authorities and university affiliates
are entitled to the benefits of the Security for Alabama Funds Enhancement Act, Title 41,
Chapter 14A, and therefore, authorities and university...
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