All persons, as defined in Section 35-8-2, including but not limited to insurance companies, banking organizations, mortgage companies and savings and loan associations, may be permitted to invest in bonds, notes, and evidences of indebtedness which are secured by mortgages or deeds of trust upon condominium property or units thereof wherever such persons may invest and subject to all of the rules and limitations applicable to such investment in bonds, notes, and evidences of indebtedness which are secured by like instruments of the same priority upon real property. Where the applicable limitations are dependent upon the type of use of the real property, only the type of use of the particular unit or units which constitute the security for such investment shall be taken into consideration for the purpose of such limitations.
Structure Code of Alabama
Chapter 8 - Condominium Ownership.
Section 35-8-3 - Applicability of Chapter.
Section 35-8-4 - Units to Constitute Real Property.
Section 35-8-5 - Unit Ownership, Possession, and Enjoyment.
Section 35-8-6 - Common and Limited Common Elements.
Section 35-8-7 - Establishment of Condominium Property; Contents of Declaration.
Section 35-8-8 - Unit Deeds and Other Instruments.
Section 35-8-10 - Bylaws of Association.
Section 35-8-11 - Recordation of Documents and Instruments.
Section 35-8-12 - Liability, Actions, and Service of Process.
Section 35-8-13 - Common Expenses and Limited Common Expenses.
Section 35-8-14 - Prohibited Work.
Section 35-8-15 - Taxes, Special Assessments, Etc.
Section 35-8-16 - Liens Against Condominium Property Generally.
Section 35-8-17 - Liens in Favor of Association.
Section 35-8-18 - Blanket Mortgage on Condominium Property.
Section 35-8-19 - Mortgage Investments on Condominium Property.