Alabama § 5-11A-12 Trust Company Authorized to Purchase Its Own Securities in Fiduciary Capacity

Alabama Statutes

§ 5-11A-12 — Trust Company Authorized to Purchase Its Own Securities in Fiduciary Capacity

Alabama § 5-11A-12

Title 5Banks and Financial Institutions

Ch. 11ARegulation of Trust Business of Banks and Trust Companies

Art. 1General Provisions

This text of Alabama § 5-11A-12 (Trust Company Authorized to Purchase Its Own Securities in Fiduciary Capacity) 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 § 5-11A-12 (2026).

Text

A trust company or other financial institution with fiduciary powers may, in its fiduciary capacity, purchase bonds or other securities underwritten or otherwise distributed by the financial institution or by a syndicate which includes the financial institution or an affiliate of the financial institution, provided such purchase is otherwise prudent and not prohibited by the instrument governing the fiduciary relationship. The provisions of this section shall apply to purchases of bonds or other securities made at the time of the initial offering thereof or at any time thereafter.

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A trust company or other financial institution with fiduciary powers may, in its fiduciary capacity, purchase bonds or other securities underwritten or otherwise distributed by the financial institution or by a syndicate which includes the financial institution or an affiliate of the financial institution, provided such purchase is otherwise prudent and not prohibited by the instrument governing the fiduciary relationship. The provisions of this section shall apply to purchases of bonds or other securities made at the time of the initial offering thereof or at any time thereafter.