Alabama § 24-1-80 - Security for Funds Deposited by Authorities in Banks and Trust Companies.
Full text of Alabama Code of Alabama § 24-1-80 — Security for Funds Deposited by Authorities in Banks and Trust Companies., with citation guidance and answers to common questions.
§ 24-1-80. Security for Funds Deposited by Authorities in Banks and Trust Companies.
The authority may by resolution provide that all moneys deposited by it shall be secured by obligations of the United States or of the State of Alabama of a market value equal at all times to the amount of such deposits, by any securities in which savings banks may legally invest funds within their control or by an undertaking with such sureties, as shall be approved by the authority, faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for such deposits.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 24-1-80
What does Code of Alabama § 24-1-80 cover?
Section 24-1-80 ("Security for Funds Deposited by Authorities in Banks and Trust Companies.") 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 § 24-1-80?
A common citation format is "Code of Alabama § 24-1-80" (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 § 24-1-80 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.