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Alabama Statutes

§ 23-7-10 — Essential Governmental Function of Bank; Taxation

Alabama § 23-7-10
JurisdictionAlabama
Title 23Highways, Roads, Bridges and Ferries
Ch. 7Alabama Transportation Infrastructure Bank Act

This text of Alabama § 23-7-10 (Essential Governmental Function of Bank; Taxation) 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 § 23-7-10 (2026).

Text

The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.

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Legislative History

(Act 2015-50, §10.)

Nearby Sections

15
§ 23-1-1
Contracts and Regulations Relative to Federal Assistance
§ 23-1-10
“Blue Reflective Markers” and “Fire/Water Hydrant” Defined; Purpose and Installation of Blue Reflective Markers
§ 23-1-100
“Captive County” Defined
§ 23-1-101
Powers and Duties of County Commissions of Captive Counties as to Construction, Repair, and Maintenance of County Roads and Bridges Generally
§ 23-1-102
Transfer to Counties of Unexpended Funds Maintained by State Department of Transportation; Payment to Counties of Tax Proceeds, Federal Aid Accruals, Etc
§ 23-1-103
Transfer to Counties by State Department of Transportation of Facilities and Properties for Construction, Repair, and Maintenance of Roads; Resolution of Disputes as to Transfers
§ 23-1-104
Furnishing of Counties with Lists of Persons Employed by State Department of Transportation Therein; Employment by Counties of Persons on Lists; Employment Status of Other Persons Employed by Department in Counties; Liability for Accumulated Obligations Due and Payable to Present Employees of Department; Payment by Department of Accumulated Sick Leave of Transferred Employee
§ 23-1-105
Effect of Article Upon Contracts for Construction, Repair and Maintenance of County Roads and Bridges Entered into by State Department of Transportation
§ 23-1-106
Effect of Article Upon Outstanding Financial Obligations Incurred by Counties; Disposition of Funds Received by State from Counties for Road and Bridge Work Therein
§ 23-1-107
Effective Date
§ 23-1-110
Purpose of Article
§ 23-1-111
Designation
§ 23-1-112
Maintenance and Repair - Responsibility
§ 23-1-113
Maintenance and Repair - Stipulations and Conditions
§ 23-1-130
Establishment
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Bluebook (online)
Alabama § 23-7-10, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/23-7-10.