Alabama § 41-10-492 - Authority as Public Corporation.
Full text of Alabama Code of Alabama § 41-10-492 — Authority as Public Corporation., with citation guidance and answers to common questions.
§ 41-10-492. Authority as Public Corporation.
The state Finance Director, the state Budget Officer and one person appointed by the Governor, one person appointed by the Speaker of the House, and one person appointed by the Lieutenant Governor, may become a public corporation with the power and authority provided in this article by proceeding according to the provisions hereof. Those persons appointed by the Governor, Lieutenant Governor, and Speaker of the House shall serve at the pleasure of the official appointing them and until their replacements have been appointed. The State Treasurer shall be treasurer of the authority, shall act as custodian of the funds of the authority, and shall pay the principal of and interest on the bonds of the authority out of the funds hereinafter provided for; provided, that the State Treasurer may designate one or more banks either within or without the state as the paying agent with respect to any series of bonds issued under this article.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-492
What does Code of Alabama § 41-10-492 cover?
Section 41-10-492 ("Authority as Public Corporation.") 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 § 41-10-492?
A common citation format is "Code of Alabama § 41-10-492" (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 § 41-10-492 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.