Alabama § 11-54-94 - Authority and Procedure for Dissolution of Boards; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution.
Full text of Alabama Code of Alabama § 11-54-94 — Authority and Procedure for Dissolution of Boards; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution., with citation guidance and answers to common questions.
§ 11-54-94. Authority and Procedure for Dissolution of Boards; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution.
Whenever the board of directors of the industrial development board shall by resolution determine that the purposes for which the board was formed have been substantially complied with and all bonds theretofore issued and all obligations theretofore incurred by the board have been fully paid, the members of the board of directors of the board shall thereupon execute and file for record in the office of the judge of probate of the county in which the board is organized a certificate of dissolution reciting such facts and declaring the board to be dissolved. Such certificate of dissolution shall be executed under the corporate seal of the board.
Upon the filing of such certificate of dissolution, the board shall stand dissolved, the title to all funds and properties owned by it at the time of such dissolution shall vest in the municipality, and possession of such funds and properties shall forthwith be delivered to such municipality.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-54-94
What does Code of Alabama § 11-54-94 cover?
Section 11-54-94 ("Authority and Procedure for Dissolution of Boards; Vesting of Title to Funds and Properties Thereof in Municipalities Upon Dissolution.") 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 § 11-54-94?
A common citation format is "Code of Alabama § 11-54-94" (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 § 11-54-94 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.