Section 41-4-13 Use of funds in sinking fund - Deposit of funds in savings banks. - Alabama Statutes

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Section 41-4-13

Use of funds in sinking fund - Deposit of funds in savings banks.

If any state sinking funds or any part thereof cannot be invested profitably in any of the other modes provided for in this article, the Director of Finance, by and with the advice and consent of the Governor, may direct the Treasurer to deposit any sinking fund or part thereof in a reputable and solvent savings bank on the best terms obtainable.

(Acts 1923, No. 436, p. 585; Code 1923, §847; Acts 1939, No. 112, p. 144; Code 1940, T. 55, §78.)

State Codes and Statutes

Statutes > Alabama > Title41 > Chapter4 > 41-4-13

Section 41-4-13

Use of funds in sinking fund - Deposit of funds in savings banks.

If any state sinking funds or any part thereof cannot be invested profitably in any of the other modes provided for in this article, the Director of Finance, by and with the advice and consent of the Governor, may direct the Treasurer to deposit any sinking fund or part thereof in a reputable and solvent savings bank on the best terms obtainable.

(Acts 1923, No. 436, p. 585; Code 1923, §847; Acts 1939, No. 112, p. 144; Code 1940, T. 55, §78.)

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State Codes and Statutes

Statutes > Alabama > Title41 > Chapter4 > 41-4-13

Section 41-4-13

Use of funds in sinking fund - Deposit of funds in savings banks.

If any state sinking funds or any part thereof cannot be invested profitably in any of the other modes provided for in this article, the Director of Finance, by and with the advice and consent of the Governor, may direct the Treasurer to deposit any sinking fund or part thereof in a reputable and solvent savings bank on the best terms obtainable.

(Acts 1923, No. 436, p. 585; Code 1923, §847; Acts 1939, No. 112, p. 144; Code 1940, T. 55, §78.)