Alabama Code 16-44A-5. Non-profit public corporation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 16-44A-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
This voluntary educational compact shall be deemed and constitute a non-profit public corporation in Alabama, and none of the net proceeds of funds shall inure to the benefit of any individual.