Section 41-1-10 Section 41-1-9 deemed declarative of existing law. - Alabama Statutes

Section 41-1-10

Section 41-1-9 deemed declarative of existing law.

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.

(Acts 1983, 4th Ex. Sess., No. 83-923, p. 205, §2.)