Alabama Code (Last Updated: November 28, 2014) |
Title5 BANKS AND FINANCIAL INSTITUTIONS. |
Chapter11A. REGULATION OF TRUST BUSINESS OF BANKS AND TRUST COMPANIES. |
Article1. General Provisions. |
§5-11A-6. Deposit of security for a operation of trust business - State Treasurer to decline certain bonds or securities.
Latest version.
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The State Treasurer shall decline to receive bonds or other securities of a market value less than par and may, in his discretion, decline to receive any bonds or other securities that he considers unsafe or unsuitable for the purpose.