Section 22-21-110 Issuance of securities - Investment of trust funds. - Alabama Statutes

Section 22-21-110

Issuance of securities - Investment of trust funds.

Unless otherwise directed by the court having jurisdiction thereof and by the document which is the source of authority, a fiduciary may, with the exercise of reasonable business prudence, invest trust funds in securities of a hospital corporation for payment of the principal of, and interest on, which the proceeds of any ad valorem, excise, license or privilege tax are pledged.

(Acts 1949, No. 640, p. 981, §8.)