AL · constitutions
Ala. Const. art. IV, § 74
Restrictions on Investment of Trust Funds by Executors, Trustees, Etc., in Private Corporations
No act of the legislature shall authorize the investment of any trust fund by executors, administrators, guardians, or other trustees in the stock of any private corporation; any such acts now existing are avoided, saving investments heretofore made; provided, however, that, unless otherwise provided by the legislature, any of said mentioned trust funds may be invested in corporation or institutions, investments in which are guaranteed as to principal by the United States government or insured as to principal by any instrumentality or agency thereof, provided such investments shall not exceed the amount insured by any such instrumentality or agency.
History
(Amended by Acts 1939, Sp. Sess., No. 14, p. 15, and proclaimed ratified July 21, 1939, as Amendment 40.)
Provenance
- Source
- alison.legislature.state.al.us
- Retrieved
- 2026-09-24
- Edition
- 2026-09-24
- Content hash
e406e5f4140885d064eaec0eabb27e7553a791bae4ca396b4ba343e80873b7a4
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