Alabama Code (Last Updated: November 28, 2014) |
Title16 EDUCATION. |
Chapter47. UNIVERSITY OF ALABAMA. |
Article1. General Provisions. |
§16-47-5. Grants and gifts preserved.
Latest version.
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No grant or gift, by will or otherwise, shall fail on account of any misnomer or informality, when the intention of the grantor or donor can be ascertained; nor shall any default or malfeasance on the part of the trustees or other officers or agents of such corporation work a forfeiture of any of its rights, powers, privileges or franchises.