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Terms Used In Alabama Code 41-10-862

  • 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.
  • property: includes both real and personal property. See Alabama Code 1-1-1

Subject to Section 6, upon approval of a master plan pursuant to Section 2 by the council as empowered by the corporation, shall implement a strictly voluntary system by which eligible donors may apply for grants for qualified donations of donated property.