In the event of dissolution of the compact, which may be accomplished only by legislative act, the residual assets shall be turned over to another public corporation or organization which is exempt from federal income tax as an organization described in Section 501(c)(3) of the Internal Revenue Code.
Ala. Code § 16-44A-17
Distribution of Residual Assets in the Event of Dissolution of Compact.
(Acts 1994, No. 94-482, p. 799, §17.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.