The corporation shall have a board of directors which shall be composed of the number of directors provided in the certificate of incorporation. All powers of the corporation shall be exercised by the board or pursuant to its authority. The directors shall be residents of the county and shall be elected by the governing body for staggered terms of office as follows: The first term of one third of the directors shall be two years, of another one third shall be for four years and of the remaining one third shall be six years and, thereafter, the term of office of each director shall be six years. If any director resigns or dies or becomes incapable of acting as a director or ceases to reside in the county, the governing body may elect a successor to serve for the unexpired period of his term. Directors shall be eligible for reelection by the governing body to succeed themselves in office. No director shall be an officer of the state, the county or any incorporated municipality. A majority of the members of the board shall constitute a quorum for the transaction of business. The corporation shall have a president, a vice-president, a secretary and a treasurer, but the offices of secretary and treasurer may be held by the same person. All officers shall be elected by the board. The members of the board and the officers shall serve without compensation, except that they may be reimbursed for actual expenses incurred in the performance of their duties. All proceedings of the board shall be reduced to writing by the secretary of the corporation and recorded in a well-bound book. Copies of such proceedings, when certified by the secretary of the corporation under its seal, shall be received in all courts as evidence of the matters and things therein certified.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 1 - Provisions Applicable to Counties Only.
Chapter 15 - Public Building Authorities.
Section 11-15-1 - Definitions.
Section 11-15-2 - Legislative Intent; Construction of Chapter.
Section 11-15-3 - Authority and Procedure for Incorporation.
Section 11-15-4 - Certificate of Incorporation - Contents; Approval.
Section 11-15-5 - Certificate of Incorporation - Recordation.
Section 11-15-6 - Directors and Officers; Records of Proceedings.
Section 11-15-7 - Powers Generally.
Section 11-15-8 - Leasing of Projects to Counties.
Section 11-15-11 - Warrants - Execution and Delivery.
Section 11-15-12 - Warrants - Security for Payment of Principal and Interest.
Section 11-15-13 - Warrants - Disposition of Proceeds From Sale.
Section 11-15-14 - Refunding Warrants.
Section 11-15-15 - Investment of County Funds in Warrants.
Section 11-15-16 - Conveyance of Property to Corporation by County.
Section 11-15-17 - Projects, Income From Leases, Warrants, etc., Exempt From Taxation.