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 § 24-1A-10

Title 24Housing

Ch. 1AAlabama Housing Finance Authority

Art. 1Housing Finance Authority

This text of Alabama § 24-1A-10 (Bonds Eligible for Investment by State and Local Governments and by Executors, Trustees, Etc) 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 § 24-1A-10 (2026).

Text

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.

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

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.