Alabama Code 45-45-241.01. Optimist Boys Center, Inc
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Terms Used In Alabama Code 45-45-241.01
- 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.
- property: includes both real and personal property. See Alabama Code 1-1-1
All property owned by the Optimist Boys Center, Inc., a Madison County nonprofit corporation organized under Section 10-4-250, and used for the promotion or betterment of the community, is hereby exempted from all county and local ad valorem taxation.