Alabama Code 43-8-256. Testator may preclude corporation from becoming surety on bond of executor or administrator
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Terms Used In Alabama Code 43-8-256
- 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.
- Executor: A male person named in a will to carry out the decedent
- Testator: A male person who leaves a will at death.
Whenever any testator, by the terms of his will, so provides, no corporation shall be accepted upon the bond of any executor or administrator of such testator.