Any public corporation shall be a nonprofit corporation, and no part of its net earnings shall inure to the benefit of any individual, firm, or corporation. In the event of dissolution of a public corporation, if the board of directors of the public corporation determines that sufficient provision has been made for the full payment of the expenses and other obligations, then any net earnings thereafter existing shall be paid to the member governing bodies of the public corporation provided, such amounts so paid out shall only be used by the member governing bodies for storm water purposes and no other purpose.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 89C - Storm Water Discharges Into Separate Storm Sewers.
Section 11-89C-1 - Legislative Findings and Intent.
Section 11-89C-2 - Definitions.
Section 11-89C-3 - Public Corporation - Procedure for Incorporation.
Section 11-89C-5 - Exemption of Public Corporation From Fees and Taxes.
Section 11-89C-6 - Member Governing Bodies Granted Power of Eminent Domain.
Section 11-89C-7 - Public Corporation to Be Nonprofit; Dissolution.
Section 11-89C-8 - Immunity of Corporation, Board Members, and Employees.
Section 11-89C-9 - Powers of Governing Bodies.
Section 11-89C-10 - Assessment, Collection, etc., of Fees, Charges, or Assessments.
Section 11-89C-12 - No Enforcement Action by Governing Body Where Adem Has Taken Certain Actions.
Section 11-89C-13 - Liberal Construction.
Section 11-89C-14 - Effect of Chapter on State Entities.
Section 11-89C-15 - Revision of Regulations and Permits; Compliance With 2014 Amendments.