Alabama § 23-2-151 Revenues Deemed Trust Funds; Depository Deemed Trustee

Alabama Statutes

§ 23-2-151 — Revenues Deemed Trust Funds; Depository Deemed Trustee

Alabama § 23-2-151

Title 23Highways, Roads, Bridges and Ferries

Ch. 2Toll Roads, Bridges and Ferries

Art. 5Alabama Toll Road, Bridge and Tunnel Authority

This text of Alabama § 23-2-151 (Revenues Deemed Trust Funds; Depository Deemed Trustee) 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 § 23-2-151 (2026).

Text

All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and the resolution or trust agreement may provide.

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

All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and the resolution or trust agreement may provide.