2019 Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 6 - Securities.
Article 5 - Pre-Issuance Procedure for Industrial Revenue Bonds.
Section 8-6-112 - Powers of director of Securities Commission.
(a) The director shall have authority to:
(1) Consider and investigate proposed issues of industrial revenue bonds;
(2) Advise and consult with issuers with respect thereto;
(3) Publish such notices of proposed issues of industrial revenue bonds or proposed rules and regulations as are required by this article or the rules and regulations of the commission;
(4) Stop the issuance of industrial revenue bonds for the limited times and under the procedures provided in this article by issuing the orders and giving the notices herein required;
(5) Cause information concerning a proposed issue of industrial revenue bonds to be presented at any meeting of the governing body at which industrial revenue bonds are to be authorized or reauthorized or any hearing upon the judicial validation of such issue; and
(6) Perform such other functions and duties as may be required by this article or by order of the commission.
(b) The authority herein granted to the director is in addition to that granted under Section 8-6-50 et seq.(Acts 1978, No. 586, p. 681, §3.)