Bonds and Coupons Deemed Negotiable Instruments

Ala. Code § 41-10-510 — under Title 41.

Ala. Code § 41-10-510

All bonds issued by the authority shall be construed to be negotiable instruments even though they are payable from a limited source. All coupons applicable to any bonds issued by the authority shall likewise be construed to be negotiable instruments although payable from a limited source.

History: (Acts 1990, No. 90-603, p. 1094, §21.)