SB258 Summary

• Amends Section 41-5A-12.2 of the Code of Alabama 1975 to clarify that nonprofit water corporations providing service to members or the public may be audited once by the Department of Examiners of Public Accounts, with the department authorized to charge a reasonable fee.

• Authorizes the Department of Examiners of Public Accounts to conduct an additional one-time audit of a nonprofit water corporation if the department suspects fraud or mismanagement of funds, with reasonable fees applicable.

• Exempts public water supply systems, waterworks plants, or water distribution systems owned or operated by municipalities, counties, or entities incorporated under Title 11 from these audit requirements.

• Effective immediately upon passage and approval by the Governor or upon becoming law.