Alabama Const. art. IV, § 74

Alabama Constitution

Article IV, § 74 — Restrictions on Investment of Trust Funds by Executors, Trustees, Etc., in Private Corporations

Alabama Const. art. IV, § 74 (Restrictions on Investment of Trust Funds by Executors, Trustees, Etc., in Private Corporations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

JurisdictionAlabama DocumentConstitution

ArticleIV

Section§ 74

CitationAlabama Const. art. IV, § 74

Bluebook

Ala. Const. art. IV, § 74.

Full Text

No act of the legislature shall authorize the investment of any trust fund by executors, administrators, guardians, or other trustees in the stock of any private corporation; any such acts now existing are avoided, saving investments heretofore made; provided, however, that, unless otherwise provided by the legislature, any of said mentioned trust funds may be invested in corporation or institutions, investments in which are guaranteed as to principal by the United States government or insured as to principal by any instrumentality or agency thereof, provided such investments shall not exceed the amount insured by any such instrumentality or agency.

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No act of the legislature shall authorize the investment of any trust fund by executors, administrators, guardians, or other trustees in the stock of any private corporation; any such acts now existing are avoided, saving investments heretofore made; provided, however, that, unless otherwise provided by the legislature, any of said mentioned trust funds may be invested in corporation or institutions, investments in which are guaranteed as to principal by the United States government or insured as to principal by any instrumentality or agency thereof, provided such investments shall not exceed the amount insured by any such instrumentality or agency.