The price or prices at which any redemption whatsoever shall be made shall not exceed the par value of the securities with respect to which such option may be exercised plus accrued interest thereon to the redemption date and plus a premium which shall not exceed 12 months’ interest on such securities, computed at the rate which such securities would bear on the redemption date as specified therein if such option had not been exercised.
Ala. Code § 11-82-4
Limitation on Redemption Prices.
(Acts 1945, No. 395, p. 613, §4.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.