Terms Used In Alabama Code > Title 16 > Chapter 45
- Balanced budget: A budget in which receipts equal outlays.
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 30-3D-608
- preceding: means next before. See Alabama Code 30-3D-608
- real property: includes lands, tenements and hereditaments. See Alabama Code 30-3D-608
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- writing: includes typewriting and printing on paper. See Alabama Code 30-3D-608
- year: means a calendar year; but, whenever the word "year" is used in reference to any appropriations for the payment of money out of the treasury, it shall mean fiscal year. See Alabama Code 30-3D-608