§ 41-6-50 Establishment; certain gifts or donations of money to be deposited in State Treasury in said fund
§ 41-6-51 Disposition and expenditure of fund
§ 41-6-52 Identification of item or purpose for which gift expended where gift designated in memory of specified person
§ 41-6-53 Gifts deemed gifts to state; deduction of amount of gift for income tax purposes
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Terms Used In Alabama Code > Title 41 > Chapter 6 > Article 3 - Memorial Fund

  • Donor: The person who makes a gift.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • preceding: means next before. See Alabama Code 1-1-1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
  • year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 1-1-1