Ala. Code § 16-17A-13

Current through the 2024 Regular Session.
Section 16-17A-13 - Investment 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.

Ala. Code § 16-17A-13 (1975)

Added by Act 2016-201,§ 13, eff. 4/28/2016.