Section 11-50A-15 Negotiability of bonds. - Alabama Statutes

Section 11-50A-15

Negotiability of bonds.

Bonds, bond anticipation notes and notes issued by the authority shall be construed to be, and shall have all the rights and incidents of negotiable instruments, subject to the provision of the bonds, bond anticipation notes or notes pertaining to registration, although payable solely from a specified source as provided herein.

(Acts 1981, No. 81-681, p. 1114, §15.)