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2018 Code of Alabama
Title 5 - BANKS AND FINANCIAL INSTITUTIONS.
Chapter 12A - ADMINISTRATION, ETC., OF COMMON TRUST FUNDS.
Section 5-12A-3 - Investments by trust institutions.
Universal Citation: AL Code § 5-12A-3 (2018)
Section 5-12A-3Investments by trust institutions.
Any trust institution, in its capacity as fiduciary or cofiduciary, whether such fiduciary capacity arose before or was created after July 8, 1943, may invest funds which it lawfully holds for investment in such capacity in interests or participations in one or more common trust funds, if such investment is not prohibited by the instrument, judgment, decree or order creating the fiduciary relationship and if, in the case of cofiduciaries, the trust institution procures the consent of its cofiduciary or cofiduciaries to such investment.
(Acts 1980, No. 80-658, §5-12-3.)
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