This chapter is intended to aid the state through the furtherance of the purposes of the chapter by providing an appropriate and independent instrumentality of the state with full and adequate powers to fulfill its functions. Except as expressly provided in this chapter, no proceeding, notice or approval shall be required for the incorporation of the authority, the purchase of any mortgage loans or the making of any loan to a mortgage lender, the acquisition of any mortgage, the acquisition of, or any dealing with respect to, any mortgaged property, the issuance of any bonds, the execution of any mortgage and deed of trust or trust indenture or the exercise of any other of its powers by the authority.
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.