Alabama § 16-33C-8 - Additional Pact Duties of Board.
Full text of Alabama Code of Alabama § 16-33C-8 — Additional Pact Duties of Board., with citation guidance and answers to common questions.
§ 16-33C-8. Additional Pact Duties of Board.
In addition to any other requirements of this chapter, the PACT board shall:
(1) Make available summary information on the financial condition of the PACT Program to all purchasers of PACT contracts.
(2) Prepare, or cause to be prepared, an annual report of the PACT Program, including details regarding the actuarial soundness of the program, and transmit a copy of same to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives. Such report shall be submitted not later than the fifth legislative day of the regular legislative session. Additionally, such report shall be presented during annual legislative budget hearings.
(3) Make all necessary and appropriate arrangements with colleges and universities in order to fulfill its obligations under PACT contracts.
(4) Submit, before any PACT-related investment or administrative contract is duly executed, a request for proposals (RFP).
(5) Require, before any PACT-related investment or administrative contract is duly executed, such contract to be approved by a majority vote of the PACT board.
(6) Prepare, or cause to be prepared, a quarterly report detailing the current projected funding status of the PACT Program, with a copy of such report transmitted to the Governor, the Lieutenant Governor, and the Speaker of the House of Representatives.
(7) Establish specific investment guidelines that include failsafe measures designed to limit future susceptibility of PACT investments to extreme market fluctuations.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 16-33C-8
What does Code of Alabama § 16-33C-8 cover?
Section 16-33C-8 ("Additional Pact Duties of Board.") 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 § 16-33C-8?
A common citation format is "Code of Alabama § 16-33C-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 § 16-33C-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.