Alabama § 41-10-432 - Funds Appropriated for Alabama Real Estate Commission Building Authority Fund; State to Have No Further Obligations or Rights After Property, Contracts, Etc., Assigned, Transferred, or Conveyed.
Full text of Alabama Code of Alabama § 41-10-432 — Funds Appropriated for Alabama Real Estate Commission Building Authority Fund; State to Have No Further Obligations or Rights After Property, Contracts, Etc., Assigned, Transferred, or Conveyed., with citation guidance and answers to common questions.
§ 41-10-432. Funds Appropriated for Alabama Real Estate Commission Building Authority Fund; State to Have No Further Obligations or Rights After Property, Contracts, Etc., Assigned, Transferred, or Conveyed.
Upon issuance of the certificate of incorporation, all funds appropriated from the Real Estate Commission Fund for purposes of capital outlay by Acts of Alabama 88-777 and 88-953, which remain unspent or unencumbered, are hereby transferred to a fund in the State Treasury to be known as the Alabama Real Estate Commission Building Authority Fund. All funds received by the authority from any source whatsoever shall be deposited into such fund. Moneys contained therein are hereby appropriated for the purposes set forth in this article; said funds shall not revert to any other fund at the end of a fiscal year but are hereby reappropriated to the authority to be expended for any lawful purpose.
Upon issuance of the certificate of incorporation and pursuant to a written transfer, assignment, or conveyance by the State of Alabama to the authority, all contracts, leases, management agreements, real, or personal property acquired by the State of Alabama for the purpose of erecting a facility for the Real Estate Commission, shall be transferred, assigned, or conveyed to the authority without payment or other consideration. Upon such assignment, transfer, or conveyance, the State of Alabama shall have no further obligations or rights to or under the items or subject matters so assigned, transferred, or conveyed.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-432
What does Code of Alabama § 41-10-432 cover?
Section 41-10-432 ("Funds Appropriated for Alabama Real Estate Commission Building Authority Fund; State to Have No Further Obligations or Rights After Property, Contracts, Etc., Assigned, Transferred, or Conveyed.") 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 § 41-10-432?
A common citation format is "Code of Alabama § 41-10-432" (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 § 41-10-432 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.