Rules & Regulations

Section 5.        Supervisory Committee

Section 5-17-13 of the Alabama Code provides the powers and duties of the Supervisory Committee. In addition to these provisions of law, the following is added to supplement and clarify Section 5-17-13.

(A)     Any outside auditor hired to perform the annual audit must provide evidence of liability insurance in an amount not less than $1,000,000.

(B)     An audit by a CPA may be required when any of the following conditions exist

1.      Persistent recordkeeping problems.

2.      The supervisory committee did not perform an audit.

3.      The audit did not meet minimum standards.

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