Alabama § 14-2-17 Bonds - Investment of Surplus in State Fund, Etc., and Trust Funds

Alabama Statutes

§ 14-2-17 — Bonds - Investment of Surplus in State Fund, Etc., and Trust Funds

Alabama § 14-2-17

Title 14Criminal Correctional and Detention Facilities

Ch. 2Alabama Corrections Institution Finance Authority

This text of Alabama § 14-2-17 (Bonds - Investment of Surplus in State Fund, Etc., and Trust Funds) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 14-2-17 (2026).

Text

Any surplus in any state fund and any retirements or trust fund, where the investment thereof is permitted or required by law, may be invested in bonds issued by the authority. Unless otherwise directed by the court having jurisdiction thereof or the document which is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust funds in the bonds of the authority.

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Any surplus in any state fund and any retirements or trust fund, where the investment thereof is permitted or required by law, may be invested in bonds issued by the authority. Unless otherwise directed by the court having jurisdiction thereof or the document which is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust funds in the bonds of the authority.