Alabama § 41-6-31 - Endowment Fund Established; Composition; Expenditure; Investment of Fund.
Full text of Alabama Code of Alabama § 41-6-31 — Endowment Fund Established; Composition; Expenditure; Investment of Fund., with citation guidance and answers to common questions.
§ 41-6-31. Endowment Fund Established; Composition; Expenditure; Investment of Fund.
The principal amount of such gift or donation shall be set aside by the State Treasurer in a special fund designated: “Endowment Fund - Department of Archives and History,” and moneys so deposited shall constitute an endowment fund for said department. In no event shall more than 10 percent of the amount remaining in said fund be expended in any one fiscal year. The Director of Finance shall invest or reinvest from time to time, at his or her discretion and with the approval of the Governor, all or any part or portion of said fund in such bonds as are authorized by the laws of Alabama governing investments in bonds by domestic life insurance companies, and the interest thereon shall be paid to said department by the State Treasurer upon a requisition signed by the director of said department and approved by the Governor.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-6-31
What does Code of Alabama § 41-6-31 cover?
Section 41-6-31 ("Endowment Fund Established; Composition; Expenditure; Investment of Fund.") 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 § 41-6-31?
A common citation format is "Code of Alabama § 41-6-31" (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 § 41-6-31 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.