Alabama Code 45-3-140.07. Transfer of funds upon dissolution or abandonment of volunteer fire department
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Terms Used In Alabama Code 45-3-140.07
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- following: means next after. See Alabama Code 1-1-1
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
Upon dissolution or abandonment of any eligible volunteer fire department, any remaining funds derived from this article or any assets purchased with funds derived from this article, after all lawful indebtedness has been satisfied, shall be transferred to the county commission. The county commission shall transfer the funds in the following manner: If a volunteer fire department is abandoned or dissolved, funds shall be equally divided and transferred to the remaining volunteer fire departments in good standing with the Barbour County Firefighter’s Association and State Forestry Commission.