Statutes > Alabama Statutes > Title 41 — STATE GOVERNMENT. > Chapter 10 — AUTHORITIES. > Section 41-10-510 Bonds and coupons deemed negotiable instruments.

Section 41-10-510 Bonds and coupons deemed negotiable instruments.

Section 41-10-510

Bonds and coupons deemed negotiable instruments.

All bonds issued by the authority shall be construed to be negotiable instruments even though they are payable from a limited source. All coupons applicable to any bonds issued by the authority shall likewise be construed to be negotiable instruments although payable from a limited source.

(Acts 1990, No. 90-603, p. 1094, §21.)