Alabama § 22-21-152 - Investment of Funds.
Full text of Alabama Code of Alabama § 22-21-152 — Investment of Funds., with citation guidance and answers to common questions.
§ 22-21-152. Investment of Funds.
(a) Any portion of the principal proceeds derived from the sale of the bonds which the board may determine is not presently needed for any of the purposes for which the bonds are authorized to be issued, and any other moneys of the authority which the board may determine will not be presently needed by the authority may, on order of the board, be invested in:
(1) Any securities that are direct general obligations of the United States of America or the principal of and interest on which are unconditionally and irrevocably guaranteed by the United States of America;
(2) Any debt securities that are direct obligations of any agency of the United States of America;
(3) Interest-bearing bank time deposits and interest-bearing bank certificates of deposit; and
(4) Interest-bearing time deposits and interest-bearing certificates of deposit of any federally-chartered savings and loan association.
(b) Any securities, time deposits or certificates of deposit in which any such investment is made may, at any time and from time to time on order of the board, be sold or otherwise converted into cash. The income derived from any such investments shall be disbursed on order of the board for any purpose for which the authority may lawfully expend funds.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 22-21-152
What does Code of Alabama § 22-21-152 cover?
Section 22-21-152 ("Investment of Funds.") 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 § 22-21-152?
A common citation format is "Code of Alabama § 22-21-152" (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 § 22-21-152 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.