Alabama § 16-17A-13 Investment in Indebtedness

Alabama Statutes

§ 16-17A-13 — Investment in Indebtedness

Alabama·Title 16 Education·Ch. 17A University Authority Act of 2016

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.

Alabama § 16-17A-13 (Investment in Indebtedness) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.