Alabama § 19-3-123 Mortgages Insured by Secretary of Housing and Urban Development - Investment

Alabama Statutes

§ 19-3-123 — Mortgages Insured by Secretary of Housing and Urban Development - Investment

Alabama § 19-3-123

Title 19Fiduciaries and Trusts

Ch. 3Trusts

Art. 6Investment of Trust Estate

This text of Alabama § 19-3-123 (Mortgages Insured by Secretary of Housing and Urban Development - Investment) 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 § 19-3-123 (2026).

Text

It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible for investment in mortgages which have been accepted for insurance by the secretary of housing and urban development or his predecessor officer pursuant to Title 2 of the National Housing Act.
No law of this state requiring security upon which loans or investments may be made or prescribing the nature, amount or form of such security or prescribing or limiting the period for which loans or investments may be made shall be deemed to apply to loans or investments made pursuant to the foregoing paragraph.

Free access — add to your briefcase to read the full text and ask questions with AI

It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible for investment in mortgages which have been accepted for insurance by the secretary of housing and urban development or his predecessor officer pursuant to Title 2 of the National Housing Act.
No law of this state requiring security upon which loans or investments may be made or prescribing the nature, amount or form of such security or prescribing or limiting the period for which loans or investments may be made shall be deemed to apply to loans or investments made pursuant to the foregoing paragraph.