Alabama § 23-7-19 - Requirements for Bonds.
Full text of Alabama Code of Alabama § 23-7-19 — Requirements for Bonds., with citation guidance and answers to common questions.
§ 23-7-19. Requirements for Bonds.
(a) The bonds of the bank must be authorized by a resolution of the bank.
(b) The bonds shall bear the date and mature at the time which the resolution provides, except that no bond may mature more than 40 years from its date of issue.
(c) The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the bank prior to their issuance.
(d) The bonds may bear interest payable at a time and at a rate as determined by the bank, including the determination by agents designated by the bank under guidelines established by it.
(e) Bonds may be sold by the bank at public or private sale at the price it determines and approves.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 23-7-19
What does Code of Alabama § 23-7-19 cover?
Section 23-7-19 ("Requirements for Bonds.") 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 § 23-7-19?
A common citation format is "Code of Alabama § 23-7-19" (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 § 23-7-19 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.