No notes shall be made payable on demand, but any note may be made subject to redemption prior to maturity upon notice and at such time as may be stated in the note. All notes may be sold at not less than par and accrue interest at private sale without previous advertisement.
Ala. Code § 11-44C-75
Notes Not Payable on Demand; Redemption Prior to Maturity; Private Sale.
(Acts 1985, No. 85-229, p. 96, §75.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.