Alabama § 16-17A-13 Investment in Indebtedness

Alabama Statutes

§ 16-17A-13 — Investment in Indebtedness

Alabama § 16-17A-13

Title 16Education

Ch. 17AUniversity Authority Act of 2016

This text of Alabama § 16-17A-13 (Investment in Indebtedness) 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 § 16-17A-13 (2026).

Text

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.

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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.