All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same now exists or may hereafter be amended or supplemented, and all debts or extensions of credit incurred pursuant to any act of congress relating to veterans' benefits, as the same now exists or may hereafter be amended or supplemented, shall be legal investments for banks, insurance companies, savings and loan associations, trustees, fiduciaries of all types and for any other person, firm or corporation, and shall be free from any restrictions of this state as to the nature, forms, or amounts of any loans or investments.
The provisions of this section supersede the provisions of any act defining legal investments in any way contrary to the provisions hereof.
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.