Bonds Constitute Negotiable Instruments; Registration of Transfers

Ala. Code § 41-10-280 — under Title 41.

Ala. Code § 41-10-280

All bonds (and income therefrom) issued by the authority shall be construed to be negotiable instruments subject to the registration provisions pertaining to transfers, even though they are payable from a limited source.

History: (Acts 1986, No. 86-420, p. 627, §21.)