Terms Used In Alabama Code 41-9-206

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • property: includes both real and personal property. See Alabama Code 1-1-1

It specifically is the legislative intent to maintain and retain all of the powers, duties, responsibilities, personnel, property and assets of whatsoever nature, not involved in federal programs and federal grants and federal assistance, in the Alabama Development Office and in the Director of the Alabama Development Office, as the case may be, and that the Alabama Development Office shall retain all of its authority, powers, duties, responsibilities and functions for industrial development.