- (1) The SLA, with participation of the Elected Committee of Blind Vendors, shall establish a method for assessing set-aside funds from net proceeds of a facility. Each vendor shall set aside a specified percentage of the net proceeds. Such funds shall be deposited monthly into the set-aside fund. The SLA and the Elected Committee of Blind Vendors will review periodically the status of set-aside funds and the specified percentage assessed against net proceeds of BEP facilities.
- (2) The set-aside assessment defined as a percentage of net proceeds shall be determined annually by January 1 of each year to ensure the retention of reasonable reserves to adequately support and develop BEP.
Author: Alabama Board of Rehabilitation Services, Alabama Elected Committee of Blind Vendors
Statutory Authority: Code of Ala. 1975, §§21-1-40, 21-9-9; 20 U.S.C. 107 et. seq.
History: New Rule: Filed January 19, 2000; effective February 23, 2000.