Alabama § 41-10-806 - Alabama Innovation Fund - Created.
Full text of Alabama Code of Alabama § 41-10-806 — Alabama Innovation Fund - Created., with citation guidance and answers to common questions.
§ 41-10-806. Alabama Innovation Fund - Created.
(a)(1) For the benefit of the state and the residents thereof, there is created an irrevocable fund named the Alabama Innovation Fund, which shall be funded from all of the following sources:
a. Proceeds of any gifts, grants, or contributions.
b. Revenue sources as directed by, and at the discretion of, the Legislature.
c. Appropriations as directed by, and at the discretion of, the Legislature.
d. Investment income.
e. Any other lawful sources.
(2) The fund shall be administered in accordance with this article. All revenues received by the fund shall be deposited in the fund upon receipt, shall be invested by the board in a manner consistent with this article, and shall be withdrawn and expended by the corporation for the purposes of this article in a manner consistent with the powers granted to the corporation by this article.
(b) The fund shall be under the management and control of the board, and all powers necessary or appropriate for the management and control of the fund shall be vested solely in the board.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-806
What does Code of Alabama § 41-10-806 cover?
Section 41-10-806 ("Alabama Innovation Fund - Created.") 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 § 41-10-806?
A common citation format is "Code of Alabama § 41-10-806" (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 § 41-10-806 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.