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2022 Code of Alabama
Title 41 - State Government.
Chapter 10 - Authorities.
Article 19 - Alabama Economic Settlement Authority.
Section 41-10-767 - Bonds Are Legal Investments.
Universal Citation: AL Code § 41-10-767 (2022)
Section 41-10-767
Bonds are legal investments.
Bonds issued by the authority are hereby made a legal investment for savings banks and insurance companies organized under the laws of the state 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 the bonds of the authority.
(Act 2016-469, 1st Sp Sess., §18.)
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