Alabama § 11-50-503 - Segregation and Withdrawal of Funds.
Full text of Alabama Code of Alabama § 11-50-503 — Segregation and Withdrawal of Funds., with citation guidance and answers to common questions.
§ 11-50-503. Segregation and Withdrawal of Funds.
All funds of said board shall be kept separate from the other funds of the municipality and in the municipal depositories, and the same shall be withdrawn only in such sums and at such times as the same shall be actually required for the expenditures authorized by law and only upon warrants signed by an employee of the municipal electric system designated by the board, countersigned by a member of the board designated by the board, and issued for claims that have been audited and ordered paid by said board and for salaries due board members and employees for work performed and services rendered.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-50-503
What does Code of Alabama § 11-50-503 cover?
Section 11-50-503 ("Segregation and Withdrawal of Funds.") 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 § 11-50-503?
A common citation format is "Code of Alabama § 11-50-503" (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 § 11-50-503 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.