There is a newer version of the Code of Alabama
2006 Alabama Code - Section 5-11A-6 — Deposit of security for a operation of trust business - State Treasurer to decline certain bonds or securities.
The State Treasurer shall decline to receive bonds or other securities of a market value less than par and may, in his discretion, decline to receive any bonds or other securities that he considers unsafe or unsuitable for the purpose.
(Acts 1980, No. 80-658, §5-11-6.)
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