Alabama Statutes
§ 37-7-15 — Bonds or Obligations - Purchase of Own Obligations
Alabama § 37-7-15
JurisdictionAlabama
Title 37Public Utilities and Public Transportation
Ch. 7Electric Membership Corporations
This text of Alabama § 37-7-15 (Bonds or Obligations - Purchase of Own Obligations) 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 § 37-7-15 (2026).
Text
A corporation shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All obligations so purchased shall be cancelled.
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Legislative History
(Acts 1935, No. 45, p. 100; Code 1940, T. 18, §24.)
Nearby Sections
15
§ 37-1-1
Commission Established§ 37-1-100
Effective Date of Orders§ 37-1-101
Modification of Orders§ 37-1-102
Record of Proceedings§ 37-1-105
Rehearing§ 37-1-122
Time for Appeal; How Appeal PerfectedCite This Page — Counsel Stack
Bluebook (online)
Alabama § 37-7-15, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/37-7-15.