(a) A member of the commission and any individual employed by the commission may not be an owner, shareholder, director, or board member of, or otherwise have any economic interest in, a licensee. In addition, a member or employee of the commission may not have any family member who is employed by a licensee. A member or employee of the commission or his or her family member may not have an interest of any kind in any building, fixture, or premises occupied by any person licensed under this chapter; and may not own any stock or have any interest of any kind, direct or indirect, pecuniary or otherwise, by a loan, mortgage, gift, or guarantee of payment of a loan, in any licensee.
Attorney's Note
Under the Alabama Code, punishments for crimes depend on the classification. In the case of this section:
| Class | Prison | Fine |
|---|
| Class C misdemeanor | up to 3 months | up to $500 |
| Violation | up to 30 days | up to $200 |
For details, see
Ala. Code § 13A-5-7
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Terms Used In Alabama Code 20-2A-21
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
