There is a newer version of the Code of Alabama
2006 Alabama Code - Section 11-59-16 — Exemption from taxation of corporations, facilities, bonds, etc.
The corporation and all facilities at any time owned by it and the income therefrom and all bonds issued by it and the income therefrom shall be exempt from all taxation in the State of Alabama.
(Acts 1947, No. 231, p. 94, §11.)
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