Alabama Code (Last Updated: November 28, 2014) |
Title19 FIDUCIARIES AND TRUSTS. |
Chapter4A. IDLE FUNDS IN FIDUCIARY ACCOUNTS. |
§19-4A-2. Investment in accordance with terms of governing document.
Latest version.
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A bank or trust company duly authorized to exercise fiduciary powers through the operation of a trust department shall invest idle funds in each fiduciary account in accordance with the specific terms of the governing document.