Section 24-1A-15 – Freedom of Authority From State Supervision and Control; Authority Deemed Independent Instrumentality.
Section 24-1A-15 Freedom of authority from state supervision and control; authority deemed independent instrumentality. This chapter is intended to aid the state through the furtherance of the purposes of the chapter by providing an appropriate and independent instrumentality of the state with full and adequate powers to fulfill its functions. Except as expressly provided in […]
Section 24-1A-16 – Earnings of Authority; Nonprofit; Excess Paid to State.
Section 24-1A-16 Earnings of authority; nonprofit; excess paid to state. The authority shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event its board of directors shall determine that sufficient provision […]
Section 24-1A-17 – Dissolution of Authority; Vesting Title to Property in State.
Section 24-1A-17 Dissolution of authority; vesting title to property in state. At any time when an authority has no bonds or other obligations outstanding, its board of directors may by the unanimous vote of all directors present adopt a resolution declaring that the authority shall be dissolved. Upon filing for record of a certified copy […]
Section 24-1A-18 – Utilization of Services Provided by Department of Finance.
Section 24-1A-18 Utilization of services provided by Department of Finance. The authority shall utilize all administrative services which may be provided by the Department of Finance. (Acts 1980, No. 80-585, p. 899, §20.)
Section 24-1A-2 – Definitions.
Section 24-1A-2 Definitions. The following words and phrases used in this chapter, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication otherwise, have the following respective meanings: (1) AUTHORITY. The public corporation and instrumentality of the state organized pursuant to the provisions of this chapter. (2) AUTHORIZED INVESTMENTS. Bonds […]
Section 24-1A-19 – Conflict of Interest; Rules Governing.
Section 24-1A-19 Conflict of interest; rules governing. The entire board of directors, the officers and employees of the authority are hereby subject to the provisions of Chapter 25 of Title 36 and to the rules and promulgations of the State Ethics Commission. (Acts 1980, No. 80-585, P. 899, §21.)
Section 24-1A-3 – Incorporation of Authority Authorized; Application; Filing; Fees.
Section 24-1A-3 Incorporation of authority authorized; application; filing; fees. (a) The nine persons initially designated as members of the authority may become a corporation with the power and authority provided in this chapter by proceeding according to the provisions of this chapter. To become a corporation, the persons so designated shall present to the Secretary […]
Section 24-1A-20 – Chapter Not to Aid in Refinancing.
Section 24-1A-20 Chapter not to aid in refinancing. This chapter shall not be used to assist any present owner for refinancing purposes. (Acts 1980, No. 80-585, p. 899, §22.)
Section 24-1A-4 – Members, Officers and Directors; Appointment; Qualifications; Meetings of Board and Public Notice Thereof; Salaries; Record of Proceedings; Copies of Proceedings as Evidence; Permanent Maintenance of Official Record; Members, Officers, etc., Not Personally Liable; Legislative Oversight Committee Established; Composition; Appointment; Expenses.
Section 24-1A-4 Members, officers and directors; appointment; qualifications; meetings of board and public notice thereof; salaries; record of proceedings; copies of proceedings as evidence; permanent maintenance of official record; members, officers, etc., not personally liable; legislative oversight committee established; composition; appointment; expenses. (a) The applicants named in the application, being the seven initial appointees of […]
Section 24-1A-21 – Liberal Construction.
Section 24-1A-21 Liberal construction. This chapter being remedial in nature, the provisions of this chapter shall be liberally construed to effect its purpose. (Acts 1980, No. 80-585, p. 899, §23.)