Alabama Code 2-6-120. Payment of principal and interest on bonds; recordkeeping
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Alabama Code 2-6-120
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Out of the receipts, revenues, and income referred to in Section 2-6-118, the corporation is authorized and directed to pay the principal of and interest on the bonds as the principal and interest shall respectively mature, and is further authorized and directed to set up and maintain appropriate records.