GroundRules
Ala. Code § 5-23-4: Proceeds.
Where this section sits in the code
- Title 5 Banks and Financial Institutions.
- Chapter 23 State Sponsorship of Financial Institution Credit Card.
The net proceeds of the state fees shall be transmitted to the state Comptroller and distributed as follows:
(1) Seventy-five percent to the Foundation for Local Schools as provided in Chapter 26C of Title 16, to be allocated to the credit of local school systems.
(2) Twenty-five percent to the Penny Trust Fund as established by Amendment 512 of the Constitution of Alabama of 1901, and by Chapter 15A of Title 41.
Collected 2026-09-03T14:01:52Z. Source file · JSON