Alabama § 41-10-476 - Power to Make Payments and to Make Agreements Respecting Investment of Funds.
Full text of Alabama Code of Alabama § 41-10-476 — Power to Make Payments and to Make Agreements Respecting Investment of Funds., with citation guidance and answers to common questions.
§ 41-10-476. Power to Make Payments and to Make Agreements Respecting Investment of Funds.
The authority shall have the power to make such payments to the United States of America as the directors deem necessary to cause the interest on any bonds of the authority to be and remain exempt from federal income taxation. The authority shall have the power to make agreements respecting the investment of funds of the authority necessary in order that the interest income on bonds of the authority be and remain exempt from federal income taxation.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-476
What does Code of Alabama § 41-10-476 cover?
Section 41-10-476 ("Power to Make Payments and to Make Agreements Respecting 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 § 41-10-476?
A common citation format is "Code of Alabama § 41-10-476" (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 § 41-10-476 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.