Alabama § 2-6-115 - Investment of Proceeds.

Full text of Alabama Code of Alabama § 2-6-115 — Investment of Proceeds., with citation guidance and answers to common questions.

§ 2-6-115. Investment of Proceeds.

Any portion of the principal proceeds derived from the sale of the bonds which the board of directors of the corporation may determine is not then needed for any of the purposes for which the bonds are authorized to be issued shall be invested in permitted investments. Any such securities, at any time and from time to time on order of the corporation, may be sold or otherwise converted into cash. The income derived from any investments shall be disbursed on order of the corporation for any purpose for which the corporation may lawfully expend funds.

Source: official Alabama text · Last verified 2026-08-27

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Frequently Asked Questions About Alabama § 2-6-115

What does Code of Alabama § 2-6-115 cover?

Section 2-6-115 ("Investment of Proceeds.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Alabama § 2-6-115?

A common citation format is "Code of Alabama § 2-6-115" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Alabama law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.

How does Alabama § 2-6-115 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.