Section 19-3-120 Classes of authorized investments; repeal of conflicting statutes. (a) Unless otherwise authorized or directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source of authority, a trustee, executor, administrator, guardian or one acting in any other fiduciary capacity, other than as a trustee […]
Section 19-3-120.1 Investments in common trusts, collective investment funds, and interests of investment companies and trusts. In addition to the investments authorized by Section 19-3-120, by any other provision of law for the investment of funds held by a trustee, executor, administrator, guardian, conservator or other fiduciary, or by the will, trust agreement or other […]
Section 19-3-120.2 Standards for fiduciary investment and management. (a) When investing, reinvesting, purchasing, acquiring, exchanging, selling and managing property for the benefit of another, a trustee, executor, administrator, guardian, conservator or other fiduciary, other than a trustee governed by Chapter 3B, shall act with the care, skill, prudence, and diligence under the circumstances then prevailing […]
Section 19-3-121 Interest-bearing warrants. A trustee, executor, administrator, guardian or one acting in any other fiduciary capacity may, with the exercise of reasonable business prudence, in addition to any other investments now permitted by law, invest funds in interest-bearing warrants of any county board of education or city board of education in the State of […]
Section 19-3-122 Securities issued or insured by secretary of housing and urban development. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, the State of Alabama and any of its departments, boards, institutions and agencies, and the municipalities, counties and other political subdivisions of the state to invest their funds and the […]
Section 19-3-123 Mortgages insured by secretary of housing and urban development – Investment. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries to invest their funds and the moneys in their custody or possession eligible for investment in mortgages which have been accepted for insurance by the secretary of housing and urban […]
Section 19-3-124 Mortgages insured by secretary of housing and urban development – Sale, etc. It shall be lawful for trustees, executors, administrators, guardians and other fiduciaries, upon the termination of their fiduciary relationships, whether by revocation or otherwise, to make distribution of assets consisting of mortgages insured by the Secretary of Housing and Urban Development […]
Section 19-3-125 Life, endowment, or annuity contracts. In addition to any other investment now permitted by law, a guardian or trustee may invest the funds of his ward or of the beneficiary of the trust in life, endowment or annuity contracts of legal reserve life insurance companies duly qualified and authorized to write such business […]
Section 19-3-126 Tax anticipation bonds, etc., of certain counties. Unless otherwise directed by the court having jurisdiction thereof, or by the will, trust agreement or other document which is the source of authority, any trustee, executor, administrator, guardian or one acting in any other fiduciary capacity, may, with the exercise of reasonable business prudence, in […]
Section 19-3-127 Bonds of Tennessee Valley Authority. Bonds issued by the Tennessee Valley Authority under the provisions of the Tennessee Valley Authority Act of 1933, as amended or as the same may be hereafter amended, shall be legal investments for fiduciaries investing trust funds and for investments by savings banks and insurance companies organized under […]
Section 19-3-128 Debts incurred under National Housing Act and under acts of congress relating to veterans’ benefits. All debts or extensions of credit incurred pursuant to any provision of the act of Congress known as the National Housing Act, as the same now exists or may hereafter be amended or supplemented, and all debts or […]
Section 19-3-129 General rules of law govern trustee’s liability. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1876, §3742; Code 1886, §3555; Code 1896, §4174; Code 1907, §6076; Code 1923, §10413; Code 1940, T. 58, §52.)
Section 19-3-130 Investment outside state. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1876, §3743; Code 1886, §3556; Code 1896, §4175; Code 1907, §6077; Code 1923, §10414; Code 1940, T. 58, §53.)
Section 19-3-131 Petition to obtain authority; notice. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1876, §3743; Code 1886, §3557; Code 1896, §4176; Code 1907, §6078; Code 1923, §10415; Code 1940, T. 58, §54.)
Section 19-3-132 Judgment on hearing. Repealed by Act 2006-216, p. 314, §5, effective January 1, 2007. (Code 1876, §3743; Code 1886, §3559; Code 1896, §4178; Code 1907, §6080; Code 1923, §10417; Code 1940, T. 58, §55.)
