Ala. Code § 11-81-247
Current with legislation from 2024 effective through May 17, 2024.
A local government, combination of local governments, the State or designee, may establish a loss reserve fund. The loss reserve fund may be established for the purposes of paying delinquent assessments caused by the failure of a real property owner to fulfill their obligations under an assessment.
Ala. Code § 11-81-247 (1975)