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2017 Code of Alabama
Title 16 - EDUCATION.
Chapter 17A - UNIVERSITY AUTHORITY ACT OF 2016.
Section 16-17A-13 - Investment in indebtedness.
Universal Citation: AL Code § 16-17A-13 (2017)
Section 16-17A-13Investment in indebtedness.
Indebtedness issued under the provisions of this chapter is hereby made a legal investment for savings banks and insurance companies organized under state law and for trustees, executors, administrators, guardians, persons, or organizations acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or by a document providing fiduciary authority. Any governmental entity or public corporation is authorized, in its discretion, to invest any available funds in securities of the authority.
(Act 2016-201, §13.)
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