(a) There is created a board to be known as the Board of Commissioners of the Alabama Firefighters Annuity and Benefit Fund. The board shall be composed of the following members:
Terms Used In Alabama Code 36-21-181
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
person: includes a corporation as well as a natural person. 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.
(1) A consumer member appointed by the Governor for an initial term of two years.(2) A volunteer firefighter appointed by the Alabama Association of Volunteer Fire Departments for an initial term of two years.(3) A volunteer firefighter appointed by the Alabama Firefighters Association for an initial term of four years.(4) A paid firefighter appointed by the Professional Firefighters Association of Alabama for an initial term of four years.(5) A paid firefighter appointed by the Alabama Association of Fire Chiefs for an initial term of four years.(b) Thereafter, each member of the board shall serve for a period of four years. Any member of the board shall be eligible to succeed himself or herself. The term of each person appointed or elected to the board shall begin on the date of appointment or election, and any person so appointed or elected whose successor has not been appointed or elected shall continue to serve until the appointment or election of a successor. Any member of the board who shall cease to be a member during his or her incumbency shall be replaced as a member of the board by the appointing authority for the remainder of the unexpired term.
