An insurer may invest in certificates, notes, or other obligations issued by trustees or receivers of any institution created or existing under the laws of the United States or of any state thereof which, or the assets of which, are being administered under the direction of any court having jurisdiction if any such obligation is adequately secured as to principal and interest.
Ala. Code § 27-41-23
Particular Investments - Certificates, Etc., Issued by Trustees or Receivers of Institutions Being Administered Under Court Direction.
(Acts 1977, No. 408, p. 530, §23.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.