In connection with the issuance of any obligations, a corporation may make such covenants or agreements and do any and all such acts and things as may be necessary or convenient or desirable in order to secure its obligations or which, in the absolute discretion of the board, tend to make the obligations more marketable, notwithstanding that such covenants, agreements, acts and things may constitute a limitation on the exercise of the powers granted in this chapter.
Structure Code of Alabama
Title 37 - Public Utilities and Public Transportation.
Chapter 7 - Electric Membership Corporations.
Section 37-7-2 - Formation and Purpose Generally.
Section 37-7-3 - Form and Contents of Certificate of Incorporation.
Section 37-7-4 - Persons Executing Certificate to Be Residents; Acknowledgment and Filing.
Section 37-7-5 - Board of Directors - Election; Expenses; President; Secretary.
Section 37-7-6 - Board of Directors - Powers.
Section 37-7-7 - Certificates of Membership; Voting.
Section 37-7-8 - Corporate Purpose; Membership Fees; Service to Nonmembers; Service Outside State.
Section 37-7-9 - Vesting of Powers for Accomplishment of Corporate Purpose.
Section 37-7-10 - Enumerated Powers.
Section 37-7-11 - Encumbering or Disposing of Property.
Section 37-7-12 - Bonds or Obligations - Consent of Department of Finance.
Section 37-7-13 - Bonds or Obligations - Manner of Sale or Issuance.
Section 37-7-14 - Bonds or Obligations - Covenants or Agreements.
Section 37-7-16 - Consolidation.
Section 37-7-15 - Bonds or Obligations - Purchase of Own Obligations.
Section 37-7-17 - Extension of Territory.
Section 37-7-18 - Charges for Services Rendered.
Section 37-7-19 - Dissolution.
Section 37-7-20 - Foreign Corporations.
Section 37-7-21 - Amendment of Certificate of Incorporation.