Code of Alabama - Title 16: Education - Chapter 61 - Trust Fund for Eminent Scholars

• Section 16-61-1 Legislative intent
  The Legislature recognizes that the following public universities in Alabama which grant baccalaureate degrees and are independently accredited by the Southern Association of Colleges and...
• Section 16-61-2 Establishment; administration; funding
  There is hereby established the Alabama Trust Fund for Eminent Scholars to provide challenge grants to the public state universities in Alabama named in Section...
• Section 16-61-3 Raising funds; allocation of matching funds
  The associated foundations that serve the respective universities shall solicit and receive contributions, from sources other than state appropriations, student fees, federal funds, research grants...
• Section 16-61-4 Challenge grant money; accounting methods
  Such challenge grants shall be matched by the university's foundation on a basis of $3.00 of contributions and accrued interest thereon, received by said university's...
• Section 16-61-5 Universities entitled to match appropriated funds; basis for applying for unmatched funds
  Each public state university named in Section 16-61-1 is entitled to match an equal share of the total moneys appropriated to the Alabama Eminent Scholars...
• Section 16-61-6 University foundations to maintain and invest funds; limitation on total amount of grants received; annual report
  The foundation serving a university shall have the responsibility for the maintenance and investment of its fund and for the administration of the program at...
• Section 16-61-7 Establishment of endowed chair
  When the sum of the challenge grant and matching funds reaches $1,000,000.00 the foundation and the president of the university may recommend, to the board...
• Section 16-61-8 Selection process for individual to fill endowed chair; use of endowment proceeds
  (a) The president shall be responsible for the final approval of criteria to be used in the selection process for the individual to fill the...
• Section 16-61-9 Foundation to enter into agreement with university
  The respective university foundation receiving a challenge grant from the Alabama Trust Fund for Eminent Scholars shall enter into a written agreement with its university...
• Section 16-61-10 Provisions apply to future appropriations
  The provisions of this chapter shall apply to any future appropriations made by the Legislature for the Eminent Scholars Program.

Last modified: May 3, 2021