Code of Alabama - Title 16: Education - Section 16-18-19 - Investments in bonds of authority

Section 16-18-19 - Investments in bonds of authority.

Unless otherwise directed by the court having jurisdiction thereof, or by the document that is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition to any other investment powers conferred by law and with the exercise of reasonable business prudence, invest trust and other fiduciary funds in bonds of the authority.

(Acts 1966, Ex. Sess., No. 221, p. 308, §19.)

Last modified: May 3, 2021