Alabama § 41-14-56 Liability of State and Treasurer ; Delays in Payments

Alabama Statutes

§ 41-14-56 — Liability of State and Treasurer ; Delays in Payments

Alabama § 41-14-56

Title 41State Government

Ch. 14State Funds Generally

Art. 3Linked Deposit Program of 2007

This text of Alabama § 41-14-56 (Liability of State and Treasurer ; Delays in Payments) 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 § 41-14-56 (2026).

Text

(a)Neither the state nor the Treasurer shall be liable to any eligible lending institution in any manner for payment of the principal or interest on the linked deposit loan to an eligible borrower.

(b)Any delay in payments or any default on the part of the eligible borrower does not in any manner affect the linked deposit participation agreement between the eligible lending institution and the Treasurer.

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(a) Neither the state nor the Treasurer shall be liable to any eligible lending institution in any manner for payment of the principal or interest on the linked deposit loan to an eligible borrower.
(b) Any delay in payments or any default on the part of the eligible borrower does not in any manner affect the linked deposit participation agreement between the eligible lending institution and the Treasurer.