Code of Alabama - Title 5: Banks and Financial Institutions - Section 5-11A-6 - Deposit of security for a operation of trust business - State Treasurer to decline certain bonds or securities
Section 5-11A-6 - Deposit of security for a operation of trust business - State Treasurer to decline certain bonds or securities.
The State Treasurer shall decline to receive bonds or other securities of a market value less than par and may, in his discretion, decline to receive any bonds or other securities that he considers unsafe or unsuitable for the purpose.