Alabama § 37-7-14 Bonds or Obligations - Covenants or Agreements

Alabama Statutes

§ 37-7-14 — Bonds or Obligations - Covenants or Agreements

Alabama § 37-7-14

Title 37Public Utilities and Public Transportation

Ch. 7Electric Membership Corporations

This text of Alabama § 37-7-14 (Bonds or Obligations - Covenants or Agreements) 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 § 37-7-14 (2026).

Text

In connection with the issuance of any obligations, a corporation may make such covenants or agreements and do any and all such acts and things as may be necessary or convenient or desirable in order to secure its obligations or which, in the absolute discretion of the board, tend to make the obligations more marketable, notwithstanding that such covenants, agreements, acts and things may constitute a limitation on the exercise of the powers granted in this chapter.

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In connection with the issuance of any obligations, a corporation may make such covenants or agreements and do any and all such acts and things as may be necessary or convenient or desirable in order to secure its obligations or which, in the absolute discretion of the board, tend to make the obligations more marketable, notwithstanding that such covenants, agreements, acts and things may constitute a limitation on the exercise of the powers granted in this chapter.