Alabama Statutes
§ 22-21-79 — Investment of Trust Funds in Corporation’s Securities
Alabama·Title 22 Health, Mental Health, and Environmental Control·Ch. 21 Hospitals and Other Health Care Facilities Generally·Art. 4 County Hospital Boards and Corporations·Div. 1 Hospital Boards
Unless otherwise directed by the court having jurisdiction thereof or by the document which is the source of authority, a fiduciary may, with the exercise of reasonable business prudence, invest trust funds in securities of the corporation for payment of the principal of, and interest on, which the proceeds of any ad valorem, excise, license or privilege tax are pledged.
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Alabama § 22-21-79 (Investment of Trust Funds in Corporation’s Securities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1949, No. 46, p. 68, §9.)
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