An insurer may invest in bonds or other evidences of indebtedness issued, assumed, or guaranteed by Canada or any province thereof or issued by any municipality in Canada having a population of 25,000 or more. (Acts 1977, No. 408, p. 530, §13.)
Particular Investments - Bonds, Etc., Issued, Etc., by Canadian Government, Provinces Thereof, Etc
Ala. Code § 27-41-13, under Investments of Domestic Insurers and Health Maintenance Organizations.
Ala. Code § 27-41-13