Alabama § 24-1A-10 Bonds Eligible for Investment by State and Local Governments and by Executors, Trustees, Etc

Alabama Statutes

§ 24-1A-10 — Bonds Eligible for Investment by State and Local Governments and by Executors, Trustees, Etc

Alabama·Title 24 Housing·Ch. 1A Alabama Housing Finance Authority·Art. 1 Housing Finance Authority

The State Treasurer may invest any idle or surplus moneys of the state in bonds of the authority. The governing body of any county or municipality is authorized in its discretion to invest any idle or surplus money held in its treasury in bonds of the authority. Such bonds shall be legal investments for executors, administrators, trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary’s authority, and for savings banks and insurance companies organized under the laws of the state.

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The State Treasurer may invest any idle or surplus moneys of the state in bonds of the authority. The governing body of any county or municipality is authorized in its discretion to invest any idle or surplus money held in its treasury in bonds of the authority. Such bonds shall be legal investments for executors, administrators, trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary’s authority, and for savings banks and insurance companies organized under the laws of the state.

Alabama § 24-1A-10 (Bonds Eligible for Investment by State and Local Governments and by Executors, Trustees, Etc) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.