Ala. Code § 34-3-108

Current through the 2024 Regular Session.

Section 34-3-108 - Nonprofit and public nature of foundation

It is the intention of this article that the foundation be a nonprofit public corporation. No part of the net earnings of the foundation shall inure to the benefit of any private individual, firm, or corporation.

Ala. Code § 34-3-108 (1975)

Acts 1961, No. 670, p. 917, §9.