State Codes and Statutes
Statutes > Alabama > Title34 > Chapter3 > 34-3-108Section 34-3-108
Nonprofit and public nature of foundation.
It is the intention of this article that the foundation be a nonprofit public corporation. No part of the net earnings of the foundation shall inure to the benefit of any private individual, firm or corporation.
(Acts 1961, No. 670, p. 917, §9.)