Section 16-61-1 Legislative intent. The Legislature recognizes that the following public universities in Alabama which grant baccalaureate degrees and are independently accredited by the Southern Association of Colleges and Schools – the University of Alabama in Huntsville, the University of Alabama in Birmingham, the University of Alabama, Auburn University, Auburn University at Montgomery, Jacksonville State […]
Section 16-61-10 Provisions apply to future appropriations. The provisions of this chapter shall apply to any future appropriations made by the Legislature for the Eminent Scholars Program. (Acts 1985, No. 85-759, p. 1265, §10.)
Section 16-61-2 Establishment; administration; funding. There is hereby established the Alabama Trust Fund for Eminent Scholars to provide challenge grants to the public state universities in Alabama named in Section 16-61-1. The trust fund shall be administered by the Alabama Commission on Higher Education in accordance with the guidelines as set forth in this chapter. […]
Section 16-61-3 Raising funds; allocation of matching funds. The associated foundations that serve the respective universities shall solicit and receive contributions, from sources other than state appropriations, student fees, federal funds, research grants and any interest earned thereon, to provide funds to match the Alabama Trust Fund for Eminent Scholars challenge grants for the establishment […]
Section 16-61-4 Challenge grant money; accounting methods. Such challenge grants shall be matched by the university’s foundation on a basis of $3.00 of contributions and accrued interest thereon, received by said university’s foundation for every $2.00 in challenge grant money from the Alabama Trust Fund for Eminent Scholars. Matching funds shall come from contributions, and […]
Section 16-61-5 Universities entitled to match appropriated funds; basis for applying for unmatched funds. Each public state university named in Section 16-61-1 is entitled to match an equal share of the total moneys appropriated to the Alabama Eminent Scholars Trust Fund prior to September 30, 1987, or for two years after any subsequent appropriation made […]
Section 16-61-6 University foundations to maintain and invest funds; limitation on total amount of grants received; annual report. The foundation serving a university shall have the responsibility for the maintenance and investment of its fund and for the administration of the program at that university. The governing board of each foundation shall be responsible for […]
Section 16-61-7 Establishment of endowed chair. When the sum of the challenge grant and matching funds reaches $1,000,000.00 the foundation and the president of the university may recommend, to the board of trustees of the university for its approval, the establishment of an endowed chair. The board of trustees must approve the recommendation in order […]
Section 16-61-8 Selection process for individual to fill endowed chair; use of endowment proceeds. (a) The president shall be responsible for the final approval of criteria to be used in the selection process for the individual to fill the endowed chair. (b) The president of the university shall nominate individuals for consideration as candidates, or […]
Section 16-61-9 Foundation to enter into agreement with university. The respective university foundation receiving a challenge grant from the Alabama Trust Fund for Eminent Scholars shall enter into a written agreement with its university to provide from the earnings from its Eminent Scholars Trust Fund an amount not to exceed said earnings which the university […]
