Code of Alabama - Title 45: Local Laws - Section 45-49A-81.03 - Donations or gifts to fund

Section 45-49A-81.03 - Donations or gifts to fund.

Monies or other things of value may be donated to the fund by any person, firm, or corporation. Such donations or gifts may be outright, in which such event the corpus thereof shall become a portion of the fund, or may be held in trust by the person or persons responsible for the operation of the fund, with the profits or income therefrom becoming a part of the fund.

(Acts 1956, 1st Sp. Sess., No. 107, p. 154, §4; Acts 1963, No. 235, p. 636, §4.)

Last modified: May 3, 2021