§ 19-3-128 — Debts Incurred Under National Housing Act and Under Acts of Congress Relating to Veterans’ Benefits

Alabama § 19-3-128

• Jurisdiction: Alabama
• Title 19: Fiduciaries and Trusts
• Ch. 3: Trusts
• Art. 6: Investment of Trust Estate

Text

All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same now exists or may hereafter be amended or supplemented, and all debts or extensions of credit incurred pursuant to any act of Congress relating to veterans’ benefits, as the same now exists or may hereafter be amended or supplemented, shall be legal investments for banks, insurance companies, savings and loan associations, trustees, fiduciaries of all types and for any other person, firm or corporation, and shall be free from any restrictions of this state as to the nature, forms, or amounts of any loans or investments.
The provisions of this section supersede the provisions of any act defining legal investments in any way contrary to the provisions hereof.

Legislative History

(Acts 1969, No. 2, p. 296, §1.)