Ala. Code § 41-10-403 (2026) – Operation of Authority as Nonprofit Corporation. | Midpage
§ 41-10-403
Ala. Code § 41-10-403 (2026)
Operation of Authority as Nonprofit Corporation.
(Acts 1989, No. 89-704, p. 1402, §14.)
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 private person or entity.