(a) Each authority incorporated under this chapter shall be a public corporation in perpetuity under its corporate name and the same shall in that name be a body politic and corporate, with power of perpetual succession.
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Terms Used In Alabama Code 39-7-12

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) The power of each authority shall be vested in and exercised by a majority of the members of the board of trustees of the improvement authority in office.
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