Alabama § 11-50-528 - Bonds - Nature of Obligations.
Full text of Alabama Code of Alabama § 11-50-528 — Bonds - Nature of Obligations., with citation guidance and answers to common questions.
§ 11-50-528. Bonds - Nature of Obligations.
All bonds issued by the corporation and all interest coupons appertaining thereto shall possess all the qualities of negotiable instruments. All bonds issued by the corporation shall be issued in anticipation of its revenues and shall be payable solely out of such of its revenues as may be designated by the board and shall not create a debt of the corporation. None of the municipalities located in the power district shall at any time or in any manner be liable for any obligations or bonds of the corporation, nor shall the same be construed to be an indebtedness of or against any such municipality.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-50-528
What does Code of Alabama § 11-50-528 cover?
Section 11-50-528 ("Bonds - Nature of Obligations.") 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 § 11-50-528?
A common citation format is "Code of Alabama § 11-50-528" (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 § 11-50-528 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.