Section 41-10-810 – Liberal Construction.
Section 41-10-810 Liberal construction. This article shall be liberally construed to effectuate its purpose. (Act 2021-455, §1.)
Section 41-10-811 – Report to Legislature.
Section 41-10-811 Report to Legislature. The Alabama Innovation Corporation shall report to the Legislature beginning in 2023, pursuant to Section 40-1-50, an assessment of the corporation efforts to accomplish the goals pursuant to this article. (Act 2021-455, §2.)
Section 41-10-820 – Leglislative Findings.
Section 41-10-820 Leglislative findings. The Legislature finds and declares all of the following: (1) The federal Small Business Innovation Research and Small Business Technology Transfer Research programs encourage innovative small businesses to engage in research that has the potential for technological innovation and commercialization. (2) Stimulating research and commercialization will grow the Alabama economy by […]
Section 41-10-821 – Definitions.
Section 41-10-821 Definitions. For the purposes of this article, the following terms shall have the following meanings: (1) CORPORATION. The Alabama Innovation Corporation created by Article 20, commencing with Section 41-10-800. (2) FEDERAL AGENCY. An executive branch agency of the United States government which participates in the Small Business Innovation Research program, the Small Business […]
Section 41-10-822 – Small Business Innovation Research and Small Business Technology Transfer Research Matching Grants.
Section 41-10-822 Small Business Innovation Research and Small Business Technology Transfer Research matching grants. The corporation may make Small Business Innovation Research and Small Business Technology Transfer Research matching grants to entities as provided in this section. (1) The corporation may establish priorities, guidelines, standards, and processes by which the matching grants contemplated in this […]
Section 41-10-823 – Rulemaking Authority.
Section 41-10-823 Rulemaking authority. The corporation may adopt rules as necessary to implement and administer this article. (Act 2021-449, §1.)
Section 41-10-800 – Legislative Findings.
Section 41-10-800 Legislative findings. The Legislature finds and declares all of the following: (1) On July 16, 2020, the Governor issued Executive Order No. 720, establishing the Alabama Innovation Commission to “identify policies that will promote entrepreneurship, innovation, and related opportunities in the State of Alabama.” (2) The commission has issued an interim report outlining […]
Section 41-10-801 – Definitions.
Section 41-10-801 Definitions. For the purposes of this article, the following terms shall have the following meanings: (1) ASPIRING ALABAMIAN. A person who has less than one hundred thousand dollars ($100,000) of household net worth and who satisfies at least one of the following criteria: a. The person has a principal residence in a community […]
Section 41-10-802 – Incorporation.
Section 41-10-802 Incorporation. (a) The Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate shall present to the Secretary of State an application, signed by each of them, for the formation of the Alabama Innovation Corporation, as a public corporation, having a legal existence separate and apart from […]
Section 41-10-803 – Board of Directors.
Section 41-10-803 Board of directors. (a) The corporation shall be under the management and control of a board of directors, and all powers necessary or appropriate for the management and control of the corporation shall be vested solely in the board. The board shall be comprised of both ex officio directors and at-large directors, all […]