Ala. Code § 16-17A-22
Current with legislation from 2024 effective through July 1, 2024.
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.
Ala. Code § 16-17A-22 (1975)