Alabama § 45-49A-63.103 - Donations.
Full text of Alabama Code of Alabama § 45-49A-63.103 — Donations., with citation guidance and answers to common questions.
§ 45-49A-63.103. Donations.
Any person, firm, association, or corporation may donate money to the fund and the board may take by gift, grant, devise, or bequest any money, personal property, real estate, or any interest therein or any right of property for the benefit of the fund. Any gift, grant, devise, or bequest may be absolute or in fee simple or upon condition that only the rents, income, and profits arising therefrom shall be applied to the purposes for which the fund is created. Any money or property donated to the fund pursuant to this section which is a gift, grant, devise, or bequest for which absolute ownership is granted to the fund shall be added to the fund to be administered by the board in its capacity as trustee. If any money or property donated to the fund pursuant to this section is not a grant of absolute ownership, then the board shall take such steps which are necessary to preserve its interest in such money or property, including the appointment of a trustee who may be paid from the income or corpus of the money or property.
Frequently Asked Questions About Alabama § 45-49A-63.103
What does Code of Alabama § 45-49A-63.103 cover?
Section 45-49A-63.103 ("Donations.") 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 § 45-49A-63.103?
A common citation format is "Code of Alabama § 45-49A-63.103" (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 § 45-49A-63.103 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.