SB356 Summary

• Amends Section 11-4-41, Code of Alabama 1975, to remove the requirement that county commissions select a county depository on or before the first Monday in December each year.

• Allows county commissions to select a county depository at any time during the year instead of a fixed annual deadline.

• County commissions must still select a qualified public depository under Chapter 14A of Title 41 that offers the highest rate of interest on daily balances of bank deposits.

• Becomes effective immediately upon passage and approval by the Governor, or upon otherwise becoming law.