2006 Alabama Code - Section 19-3-131 — Petition to obtain authority; notice.

The trustee may obtain authority for the making of such loan or investment, by petition to the circuit court of the county in which the trust was created, or in which the trust is being administered. The petition must be verified by affidavit and must state who are the parties having interests in the funds, the nature of the interest, their places of residence, which of them, if any, are minors or of unsound mind, the amount and character of the fund to be lent or invested, the security upon which the loan is to be made, or the nature and character of the investment to be made, and the facts which render such loan or investment desirable. Notice must be given as in the case of an original complaint.

(Code 1876, §3743; Code 1886, §3557; Code 1896, §4176; Code 1907, §6078; Code 1923, §10415; Code 1940, T. 58, §54.)