§ 12-108. Benefit of net earnings

Latest version.

Except as necessary to pay debt service or implement the public purposes or programs of the incorporating county or municipal corporation, the net earnings of an authority may benefit only the incorporating county or municipal corporation and may not benefit any person.

HISTORY: An. Code 1957, art. 41, § 14-103(j); 2008, ch. 306, § 2.

                    
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