Notwithstanding any other provision of law to the contrary:
(1) Each authority shall be exempt from all laws of the state governing usury or prescribing or limiting interest rates, including, without limitation, the provisions of Title 8, Chapter 8.
(2) Authorities, university affiliates, members of the governing bodies of authorities and university affiliates, and officers and employees of authorities and university affiliates shall not be subject to state ethics laws, including, without limitation, the provisions of Title 36, Chapter 25.
(3) Meetings of the board of an authority and any committee thereof shall not be subject to public meeting or notice requirements, including, without limitation, the provisions of Title 36, Chapter 25A.
(4) Deposits of authorities and university affiliates are entitled to the benefits of the Security for Alabama Funds Enhancement Act, Title 41, Chapter 14A, and therefore, authorities and university affiliates are each a covered public entity as such term is used in that act.
(5) Authorities and university affiliates shall not be subject to the competitive bid laws of the state, including, without limitation, the provisions of Title 41, Chapter 16, Articles 2, 3, and 3A.
(6) Authorities and university affiliates shall not be subject to examination by the state Department of Examiners of Public Accounts.
(7) Authorities, university affiliates, and the employees thereof shall not be required to participate in any retirement plan, public pension plan, or health insurance plan administered by the state, or any agency of the state, unless an authority or university affiliate elects to join the plan and is otherwise eligible under applicable law to join the plan.
(8) No expenditure authorized or permitted by the provisions of this chapter shall be considered to be a lending of credit or a granting of public money or thing of value to or in aid of any individual, association, or corporation within the meaning of any constitutional or statutory provision.
(9) For purposes of The Volunteer Service Act, an authority shall be considered a governmental entity, and a university affiliate shall be considered a nonprofit organization so as to provide volunteers with the protections of Section 6-5-336. Terms used in this subdivision shall have the meanings assigned in Section 6-5-336.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.