Volunteer fire departments; authorized to deposit funds with financial institutions

This bill allows Alabama volunteer fire departments and rescue squads to deposit, invest, or manage their funds in federally insured banks or credit unions (like FDIC-insured banks). It requires these funds to remain separate from private money and mandates detailed three-year record-keeping for all expenditures. Departments must follow all local, state, and federal security and reporting rules for these deposits. The change applies to certified volunteer departments meeting state requirements under existing law.