Alabama Code 37-4-12. Guarantee or obligation on part of state not to be implied
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Terms Used In Alabama Code 37-4-12
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
Nothing in this article shall be construed to imply any guarantee or obligation as to such securities on the part of the State of Alabama.