Code of Alabama - Title 16: Education - Section 16-17A-22 - Disposition of excess revenues

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, §22.)

Last modified: May 3, 2021