The provisions of Section 41-1-9 shall be deemed declarative of existing law and shall not be construed in a manner adverse to the validity of, or the lawfulness of the interest payable with respect to, (i) any bonds, warrants, notes, certificates of indebtedness or other securities at any time issued by any issuer described in Section 41-1-9 hereof, or (ii) any debt at any time incurred by any private person, corporation or other legal entity.
Structure Code of Alabama
Chapter 1 - General Provisions.
Section 41-1-1 - Sovereignty and Jurisdiction of State; Territorial Waters; Legislative Findings.
Section 41-1-2 - Maintenance and Defense of State Authority and Jurisdiction.
Section 41-1-3 - Compromise of Claims in Favor of State.
Section 41-1-4 - When Bonds of State Payable.
Section 41-1-5 - Nepotism in State Service Prohibited.
Section 41-1-6 - Inventory of Nonconsumable Personal Property by Departments and Agencies.
Section 41-1-7 - Issuance of Securities in Fully Registered Form Without Coupons.
Section 41-1-9 - Issuance of Interest Bearing Securities, Etc.
Section 41-1-10 - Section 41-1-9 Deemed Declarative of Existing Law.