Alabama § 38-14-2 - Establishment of Account.
Full text of Alabama Code of Alabama § 38-14-2 — Establishment of Account., with citation guidance and answers to common questions.
§ 38-14-2. Establishment of Account.
A person who is eligible to become an individual development account owner may enter into an agreement developed with a fiduciary organization for the establishment of an individual development account. The agreement shall provide for the amount of the savings deposits, the match fund rate, the asset goal, and the financial literacy classes to be completed, any additional training specific to the asset, and financial counseling the individual will attend, as well as other services designed to increase the independence of the person through the achievement of the account’s approved purpose.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 38-14-2
What does Code of Alabama § 38-14-2 cover?
Section 38-14-2 ("Establishment of Account.") 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 § 38-14-2?
A common citation format is "Code of Alabama § 38-14-2" (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 § 38-14-2 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.