Alabama § 11-95-9 - Bonds of Corporation - Proceeds from Sale.
Full text of Alabama Code of Alabama § 11-95-9 — Bonds of Corporation - Proceeds from Sale., with citation guidance and answers to common questions.
§ 11-95-9. Bonds of Corporation - Proceeds from Sale.
All moneys derived from the sale of any bonds issued by a corporation shall be used solely for the purpose or purposes for which the same are authorized, including, but without limitation to, the establishment of reserve funds as security for the payment of the principal of (and premium, if any) and interest on such bonds and funds for the maintenance, repair, replacement, improvement and enlargement of any of its hospital facilities or other properties, and any costs and expenses incidental thereto. Such costs and expenses may include but shall not be limited to the fiscal, consulting, legal and other expenses incurred in connection with the issuance of the bonds, and interest to accrue on such bonds for a period ending not later than three years from their date.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 11-95-9
What does Code of Alabama § 11-95-9 cover?
Section 11-95-9 ("Bonds of Corporation - Proceeds from Sale.") 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 § 11-95-9?
A common citation format is "Code of Alabama § 11-95-9" (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 § 11-95-9 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.