All money collected from the sale of electric current or received in any way from the use of the municipal electric distribution system shall be deposited in the municipal depositories, which shall be qualified public depositories under Chapter 14A of Title 41, and shall be distributed by the board as required by the governing body of the municipality.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50 - Public Utilities.
Article 15 - Electric Utility Boards.
Section 11-50-491 - Qualifications of Members.
Section 11-50-492 - Election of Members; Filling of Vacancies.
Section 11-50-494 - Chairman; Secretary.
Section 11-50-495 - Compensation.
Section 11-50-496 - Meetings; Record of Proceedings.
Section 11-50-497 - Powers and Duties Generally.
Section 11-50-498 - Impeachment and Removal.
Section 11-50-499 - Bonds of Officers and Employees.
Section 11-50-500 - Examination of Books and Accounts.
Section 11-50-501 - Annual Report.
Section 11-50-502 - Expenditures for New Construction, Additions, or Replacements.
Section 11-50-503 - Segregation and Withdrawal of Funds.
Section 11-50-504 - Deposit and Distribution of Money Received From Use of Electric System.
Section 11-50-505 - Bond or Securities of Depository.
Section 11-50-506 - Effect of Chapter on Existing Laws, Etc.