It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible for investment in mortgages which have been accepted for insurance by the secretary of housing and urban development or his predecessor officer pursuant to Title 2 of the National Housing Act.
No law of this state requiring security upon which loans or investments may be made or prescribing the nature, amount or form of such security or prescribing or limiting the period for which loans or investments may be made shall be deemed to apply to loans or investments made pursuant to the foregoing paragraph.
Structure Code of Alabama
Title 19 - Fiduciaries and Trusts.
Article 6 - Investment of Trust Estate.
Section 19-3-120 - Classes of Authorized Investments; Repeal of Conflicting Statutes.
Section 19-3-120.2 - Standards for Fiduciary Investment and Management.
Section 19-3-121 - Interest-Bearing Warrants.
Section 19-3-122 - Securities Issued or Insured by Secretary of Housing and Urban Development.
Section 19-3-123 - Mortgages Insured by Secretary of Housing and Urban Development - Investment.
Section 19-3-124 - Mortgages Insured by Secretary of Housing and Urban Development - Sale, Etc.
Section 19-3-125 - Life, Endowment, or Annuity Contracts.
Section 19-3-126 - Tax Anticipation Bonds, etc., of Certain Counties.
Section 19-3-127 - Bonds of Tennessee Valley Authority.
Section 19-3-129 - General Rules of Law Govern Trustee's Liability.
Section 19-3-130 - Investment Outside State.