Alabama § 23-7-29 - Other Financial Assistance Authorized.
Full text of Alabama Code of Alabama § 23-7-29 — Other Financial Assistance Authorized., with citation guidance and answers to common questions.
§ 23-7-29. Other Financial Assistance Authorized.
(a) The granting of other financial assistance by the bank shall be authorized by a resolution of the bank.
(b) The bank may execute instruments and enter into financing agreements, including, without limitation, a trust indenture between the bank and a corporate trustee, which may be the State Treasurer or any bank having trust powers or any trust company doing business in this state, containing the terms and conditions as the bank shall determine in connection with the provision of other financial assistance and securing its obligations with respect to other financial assistance.
(c) The bank may pledge any of its revenues or funds to the payment of other financial assistance provided by the bank, subject to any prior pledges for outstanding bonds or other financial assistance of the bank and, in the case of those revenues described in subdivisions (1) and (2) of subsection (a) and subsection (b) of Section 23-7-6, the pledges by Alabama Federal Aid Highway Finance Authority and Alabama Highway Finance Corporation of the revenues for bonds issued by the entities. Other financial assistance may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the state, or any corporation, association, institution, or person, any other property or assets of the bank, or a pledge of any money, income, or revenue of the bank from any source.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 23-7-29
What does Code of Alabama § 23-7-29 cover?
Section 23-7-29 ("Other Financial Assistance Authorized.") 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 § 23-7-29?
A common citation format is "Code of Alabama § 23-7-29" (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 § 23-7-29 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.