(a) The power of the bureau shall be vested in and exercised by the board subject to this part.
Terms Used In Alabama Code 45-37-91.05
- board: The board of directors of the authority. See Alabama Code 45-37-91.01
- bureau: The public corporation for which this part provides. See Alabama Code 45-37-91.01
- Contract: A legal written agreement that becomes binding when signed.
- person: Includes a natural person, corporation, partnership, association, or other entity. See Alabama Code 45-37-91.01
- 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 board shall be authorized to employ agents, employees, officers, consultants, attorneys, and to secure such services and assistance as the board deems necessary to enable it to conduct and engage in the activities and purposes for which this bureau is created.
(c) The board may delegate to one or more of its members, employees, agents, or officers, such duties as it deems proper.
(d) The board shall elect a chair and a vice chair of the board who shall serve as chair in the event of the chair’s absence. The board shall also elect a treasurer, assistant treasurer, secretary, and assistant secretary. One person may serve as treasurer and secretary, or as assistant treasurer and assistant secretary. The treasurer, assistant treasurer, secretary, or assistant secretary may, but need not be, a member of the board.
(e) The board shall provide by resolution for the dates on which the chair, vice chair, treasurer, and secretary shall be elected, which resolution shall specify the term or period for which each of the officers last named shall serve.
(f) The treasurer shall act as custodian of all of the funds from whatever sources derived received by such officer.
(g) The treasurer of the bureau shall execute a fidelity bond with a company authorized to write such bonds in the State of Alabama being surety thereon, which bond shall be in an amount approved by the board.
(h) Contracts of the bureau shall be executed in the name of the bureau by the chair of the board and attested by the secretary of the bureau; provided, however, that the board may by resolution provide for a different form for the execution of contracts and for the execution thereof by an officer or agent other than the chair and secretary. In no event shall a contract, irrespective of its form and of the persons executing the same, be binding unless such contract was authorized or ratified by the board.