The State Treasurer shall decline to receive bonds or other securities of a market value less than par and may, in his discretion, decline to receive any bonds or other securities that he considers unsafe or unsuitable for the purpose.
Ala. Code § 5-11A-6
Deposit of Security for a Operation of Trust Business - State Treasurer to Decline Certain Bonds or Securities.
(Acts 1980, No. 80-658, §5-11-6.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.