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2018 Code of Alabama
Title 16 - EDUCATION.
Chapter 17A - UNIVERSITY AUTHORITY ACT OF 2016.
Section 16-17A-22 - Disposition of excess revenues.
Universal Citation: AL Code § 16-17A-22 (2018)
Section 16-17A-22Disposition 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.)
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