Alabama Code 41-10-100. Investment of surplus, etc., county funds in bonds of corporation
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Terms Used In Alabama Code 41-10-100
- 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.
The governing body is authorized in its discretion to invest in bonds of the corporation any idle or surplus money held in the treasury of the county which is not otherwise earmarked or pledged.