Alabama § 11-54-188 - Earnings of an Authority.
Full text of Alabama Code of Alabama § 11-54-188 — Earnings of an Authority., with citation guidance and answers to common questions.
§ 11-54-188. Earnings of an Authority.
An authority shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm, or corporation, except that in the event a board shall determine that sufficient provision has been made for the full payment of the expenses, bonds, and other obligations of an authority, then any net earnings of an authority thereafter accruing shall be paid to its authorizing municipality.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-54-188
What does Code of Alabama § 11-54-188 cover?
Section 11-54-188 ("Earnings of an Authority.") 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 § 11-54-188?
A common citation format is "Code of Alabama § 11-54-188" (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 § 11-54-188 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.