Nothing in this article shall be construed to imply any guarantee or obligation as to such securities on the part of the State of Alabama. (Acts 1920, No. 37, p. 38; Code 1923, §9749; Code 1940, T. 48, §314.)
Guarantee or Obligation on Part of State Not to Be Implied
Ala. Code § 37-4-12, under Rate and Other Regulations.
Ala. Code § 37-4-12