Alabama § 41-10-881 - Definitions.
Full text of Alabama Code of Alabama § 41-10-881 — Definitions., with citation guidance and answers to common questions.
§ 41-10-881. Definitions.
For the purposes of this article, the following terms have the following meanings:
(1) BOARD. The governing board of the corporation.
(2) CORPORATION. The Alabama Growth Alliance created by this article as a public corporation having a legal existence separate and apart from the state and any county, municipality, or political subdivision.
(3) ECONOMIC DEVELOPMENT ENTITY.
a. A nonprofit corporation that possesses all of the following characteristics:
1. Is organized as a nonprofit corporation exempt from federal income tax under 26 U.S.C. § 501(c).
2. Has a record of, or can demonstrate that it is capable of, serving the entire state on matters involving economic development.
3. Has a record of, or can demonstrate that it is capable of, developing, fostering, and implementing economic development policies and strategies across Alabama.
4. Has received, or is eligible to receive, grant funding from the state or from federal or private sources.
b. In determining whether a nonprofit corporation qualifies as an economic development entity, the board may attribute to the nonprofit corporation the experiences of its officers, staff, and directors with other nonprofit corporations.
Frequently Asked Questions About Alabama § 41-10-881
What does Code of Alabama § 41-10-881 cover?
Section 41-10-881 ("Definitions.") 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 § 41-10-881?
A common citation format is "Code of Alabama § 41-10-881" (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 § 41-10-881 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.