AL SB60

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 the fixed December deadline.

Requires selected depositories to be qualified public depositories under Chapter 14A of Title 41 and offer the highest rate of interest on daily balances of bank deposits where permitted by law.

Takes effect immediately upon passage and approval by the Governor or upon otherwise becoming law.