Alabama § 11-50-353 - Moneys Received Under Article Deemed Trust Funds; Provisions in Trust Agreements or Resolutions for Issuance of Bonds as to Trustees.
Full text of Alabama Code of Alabama § 11-50-353 — Moneys Received Under Article Deemed Trust Funds; Provisions in Trust Agreements or Resolutions for Issuance of Bonds as to Trustees., with citation guidance and answers to common questions.
§ 11-50-353. Moneys Received Under Article Deemed Trust Funds; Provisions in Trust Agreements or Resolutions for Issuance of Bonds as to Trustees.
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this article.
The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom or any bank, trust company, or other fiscal agent with which such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes hereof, subject to such regulations as this article and such resolution or trust agreement may provide.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-50-353
What does Code of Alabama § 11-50-353 cover?
Section 11-50-353 ("Moneys Received Under Article Deemed Trust Funds; Provisions in Trust Agreements or Resolutions for Issuance of Bonds as to Trustees.") 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 § 11-50-353?
A common citation format is "Code of Alabama § 11-50-353" (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 § 11-50-353 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.