Alabama § 11-50-531 Exemption from Taxation

Alabama Statutes

§ 11-50-531 — Exemption from Taxation

Alabama·Title 11 Counties and Municipal Corporations·Ch. 50 Public Utilities·Art. 16 District Electric Corporations

All bonds and the income therefrom issued by the corporation and all mortgages and deeds of trust executed as security therefor and all properties of the corporation of every kind and character shall be exempt from all taxation in the State of Alabama. Any such mortgage or deed of trust shall be admitted to record in the office of the judge of probate of any county in this state without the payment of any tax upon the debt secured thereby or any other fee or charge except the costs of recording the instrument at the rate fixed by law.

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All bonds and the income therefrom issued by the corporation and all mortgages and deeds of trust executed as security therefor and all properties of the corporation of every kind and character shall be exempt from all taxation in the State of Alabama. Any such mortgage or deed of trust shall be admitted to record in the office of the judge of probate of any county in this state without the payment of any tax upon the debt secured thereby or any other fee or charge except the costs of recording the instrument at the rate fixed by law.

Alabama § 11-50-531 (Exemption from Taxation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.