The State Treasurer may invest any idle or surplus moneys of the state in bonds of the authority. The governing body of any county or municipality is authorized in its discretion to invest any idle or surplus money held in its treasury in bonds of the authority. Such bonds shall be 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, and for savings banks and insurance companies organized under the laws of the state.
Structure Code of Alabama
Chapter 1A - Alabama Housing Finance Authority.
Article 1 - Housing Finance Authority.
Section 24-1A-1 - Legislative Findings and Declaration of Purpose of Article.
Section 24-1A-2 - Definitions.
Section 24-1A-3 - Incorporation of Authority Authorized; Application; Filing; Fees.
Section 24-1A-5 - Powers of Authority.
Section 24-1A-8 - Refunding Bonds.
Section 24-1A-11 - Applicability of Certain Provisions of Uniform Commercial Code.
Section 24-1A-12 - Exemption From Taxation.
Section 24-1A-13 - Liability of State.
Section 24-1A-14 - Exemption From Usury and Interest Laws.
Section 24-1A-16 - Earnings of Authority; Nonprofit; Excess Paid to State.
Section 24-1A-17 - Dissolution of Authority; Vesting Title to Property in State.
Section 24-1A-18 - Utilization of Services Provided by Department of Finance.
Section 24-1A-19 - Conflict of Interest; Rules Governing.