Alabama act 2001 955-2026

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The document outlines the requirements of Act 2001-955, which mandates that a Vendor Disclosure Statement must be completed and submitted with proposals, bids, contracts, or grant proposals exceeding $5,000 to the State of Alabama. It specifies exemptions, submission timelines, penalties for misleading information, and definitions related to public officials and employees. The document also includes instructions for completing the disclosure statement.

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Click ‘Get Form’ to open the Alabama Act 2001-955 disclosure statement in the editor.
Begin by filling in the ENTITY COMPLETING FORM section. Enter your entity's name, address, city, state, zip code, and telephone number.
Next, specify the STATE AGENCY/DEPARTMENT that will receive goods or services. Provide their address and contact information.
Indicate whether you have previously performed work for any State Agency/Department in the current or last fiscal year by selecting 'Yes' or 'No'. If 'Yes', provide details about the agency, type of goods/services, and amount received.
Repeat a similar process for grants by indicating if you have applied for any grants from State Agencies/Departments and providing relevant details if applicable.
List all public officials/public employees with whom you have a family relationship that may benefit financially from the transaction. Include their names, addresses, and associated State Departments/Agencies.
Describe any direct and indirect financial benefits related to the proposed transaction for identified individuals.
Finally, list all paid consultants and/or lobbyists utilized for obtaining the contract or proposal. Ensure all sections are completed accurately before signing and notarizing the form.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Which of the following is not a seller required disclosure in Alabama?

Estate agents are required to pass on any information that the buyer needs to know. This covers a broad range of subjects, and comes with the added complication that sellers are not honest about every detail. Paying for a survey and carrying out searches is recommended for potential buyers.

What do you have to disclose when selling a house in Alabama?

Although Alabama law does not require sellers to provide a laundry list of defects to potential buyers, nor to proactively inspect the property for problems, smart sellers will disclose material defects as a risk-management tool. Doing so will help avoid buyer anger and the possibility of lawsuits.

What not to say when selling a house?

b. The answer is prior owner committed suicide in the property. A suicide is a stigma on the property, but stigma does not have to be disclosed by the seller in Alabama. The other choices are all required disclosures.

What is the Act 2001 955 in Alabama?

Act 2001-955 requires the disclosure statement to be completed and filed with all proposals, bids, contracts, or grant proposals to the State of Alabama in excess of $5,000.

What is the buyer beware law in Alabama?

The Prompt Pay Act requires that a contractor who receives payment from an owner must pay each of its subcontractors the portion of the owners payment corresponding to that subcontractors interest in the owners payment.

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Does Alabama require a sellers disclosure?

Buyers have a chance to inspect the property and should assume the responsibility of a purchase. Simply stated, this means that neither the seller nor the sellers agents, unless asked, are required to disclose defects, except those which might pose an immediate health or safety risk to the buyers.

Alabama act 2001 955-2026

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