Any bonds issued by the authority may be used by the holders thereof as security for deposits of any funds belonging to the state or to any instrumentality, agency, or political subdivision of the state in any instance where security for such deposits may be required or permitted by law.
Ala. Code § 41-10-505
Security for Deposit of Governmental Funds.
(Acts 1990, No. 90-603, p. 1094, §16.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.