Alabama § 11-66A-11 - Audited Financial Statements.
Full text of Alabama Code of Alabama § 11-66A-11 — Audited Financial Statements., with citation guidance and answers to common questions.
§ 11-66A-11. Audited Financial Statements.
(a) A research and development corridor shall be required to produce audited financial statements from a certified public accountant or a firm thereof regularly engaged in the auditing of financial records, or an auditor who is regularly employed by the Department of Examiners of Public Accounts, for each fiscal year and, when available, deliver the audited financial statements to each public entity that financially supports the corridor, if the corridor: (i) receives any eligible funds; (ii) receives any funds, proceeds, or revenues from any public entity; or (iii) issues any financial obligation.
(b) For purposes of this section, the person conducting an audit pursuant to subsection (a) must be a person who: (i) is in fact independent; (ii) does not have any direct financial interest or any material indirect financial interest in the corridor; and (iii) is not connected with the corridor or any officer, employee, promoter, underwriter, trustee, partner, director, or person performing similar functions.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-66A-11
What does Code of Alabama § 11-66A-11 cover?
Section 11-66A-11 ("Audited Financial Statements.") 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 § 11-66A-11?
A common citation format is "Code of Alabama § 11-66A-11" (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 § 11-66A-11 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.