The Secretary of the Alabama Department of Commerce, the Commissioner of Revenue and the Director of Finance may become a public corporation with the powers provided for in this article by proceeding according to the provisions of Section 41-10-23.

(Acts 1965, No. 662, p. 1187, §3; Acts 1965, 3rd Ex. Sess., No. 2, p. 208, §1; Act 2011-690, p. 2112, §1.)

Terms Used In Alabama Code 41-10-22

  • 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.