Alabama § 38-14-8 - Selection of Fiduciary Organizations.
Full text of Alabama Code of Alabama § 38-14-8 — Selection of Fiduciary Organizations., with citation guidance and answers to common questions.
§ 38-14-8. Selection of Fiduciary Organizations.
The department shall select fiduciary organizations through competitive processes. In making the selections, the department may consider factors including, but not limited to, the following:
(1) The ability of the fiduciary organization to implement and administer the individual development account program, including the ability to verify account owner eligibility, certify that matching funds are used only for qualified purposes, and exercise general fiscal accountability.
(2) The capacity of the fiduciary organization to provide or raise matching funds for the deposits of account owners.
(3) The capacity of the fiduciary organization to provide, or to arrange for the provisions of, financial counseling, financial literacy education and training specific to the assets the account owners will be purchasing, and other related services to account owners.
(4) The links the fiduciary organization has to other activities and programs designed to increase the independence of this state’s low-income households and individuals through education and training, home ownership, small business capitalization, and other asset-building programs.
(5) The feasibility of the fiduciary organization’s program design, including match rates and savings goals, to lead to asset purchase.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 38-14-8
What does Code of Alabama § 38-14-8 cover?
Section 38-14-8 ("Selection of Fiduciary Organizations.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 38-14-8?
A common citation format is "Code of Alabama § 38-14-8" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 38-14-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.