Alabama § 41-4-15 - Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted from Its Object.
Full text of Alabama Code of Alabama § 41-4-15 — Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted from Its Object., with citation guidance and answers to common questions.
§ 41-4-15. Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted from Its Object.
This article is not intended and shall not be executed, enforced, or construed so as to allow any diversion or conversion of any particular sinking funds, or part thereof, from the object and purpose for which such particular fund or part thereof was created, but they shall be executed and enforced so as to enhance and increase the value of all sinking funds and to apply each particular fund and the increased value or interest accruing therefrom to the prompt and faithful payment of the particular indebtedness or obligation for which the fund was created, and no sinking funds or any part thereof shall be devoted to any other use or purpose than that for which it was created and provided.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-4-15
What does Code of Alabama § 41-4-15 cover?
Section 41-4-15 ("Use of Funds in Sinking Fund - Sinking Fund Not to Be Diverted from Its Object.") 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 § 41-4-15?
A common citation format is "Code of Alabama § 41-4-15" (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 § 41-4-15 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.