Bonds issued under the provisions of this article are hereby made legal investments for executors, administrators, trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary’s authority. Such bonds shall be legal investments for savings banks and insurance companies organized under the laws of the state.
Ala. Code § 4-3-21
Eligibility of Bonds as Investments for Trusts, Savings Banks, Insurance Companies, Etc.
(Acts 1963, No. 265, p. 696, §18.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.