(a) There is established a special fund within the State Treasury to be known as the Alabama Abandoned and Derelict Vessel Fund.
Terms Used In Alabama Code 33-5A-9
Appraisal: A determination of property value.
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
(b) The fund shall be placed under the management or administration of the Secretary of the Alabama State Law Enforcement Agency for payment of the cost of implementing and administering this chapter, including, but not limited to, the cost of the seizure, removal, transportation, preservation, storage, advertisement, appraisal, and disposal of an abandoned derelict vessel.(c) The fund shall consist of all moneys collected or received by the secretary pursuant to this chapter and all grants, appropriations, gifts, donations, and other sources for purposes of implementing and administering this chapter.(d) The secretary shall have the authority to expend moneys in the fund in accordance with this chapter.
