An insurer may invest in secured and unsecured obligations of religious institutions or societies located within the United States if the institution or society has not defaulted in payment of principal or interest on any of its obligations during the five years preceding the investment.
Ala. Code § 27-41-21
Particular Investments - Obligations of Religious Institutions or Societies.
(Acts 1977, No. 408, p. 530, §21.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.