§ 6-20-817 — Prior loans validated

All outstanding loans evidenced by revolving loan bonds and certificates of indebtedness made under the provisions of the laws or parts of laws repealed by this subchapter are validated, ratified, and confirmed; such evidences of debt are, respectively, found and declared to be the valid and subsisting obligations of the makers in accordance with the terms thereof, and the pledges to secure the payment of such obligations shall continue to be pledged for such purpose.

Legislative History

Acts 1953, No. 384, § 17, as renumbered by Acts 1967, No. 480, § 3; A.S.A. 1947, § 80-956.