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27-41-12
Section 27-41-12 Particular investments - Obligations issued or guaranteed by certain federal
agencies. An insurer may invest in obligations issued or guaranteed by the following agencies
of the United States of America: (1) Commodity Credit Corporation; (2) Federal intermediate
credit banks; (3) Federal land banks; (4) Central bank for cooperatives; (5) Federal home
loan banks; (6) Federal National Mortgage Association; (7) Federal Home Loan Mortgage Corporation;
(8) Tennessee Valley Authority; and (9) Any other similar agency of the government of the
United States of America having similar financial quality. (Acts 1977, No. 408, p. 530, §12.)...
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9-10-39
Section 9-10-39 Investment in bonds by state, banks, insurance companies, etc.; deposit of
bonds, etc., with state or municipal officers or agencies. Bonds issued by the corporation
under the provisions of this article are hereby made securities in which the state and all
political subdivisions of this state, their officers, boards, commissions, departments or
other agencies, all banks, bankers, savings banks, trust companies, savings and loan associations,
investment companies and other persons carrying on a banking business, all insurance companies,
insurance associations, and other persons carrying on an insurance business and all administrators,
executors, guardians, trustees and other fiduciaries and all other persons whatsoever who
now are or may hereafter be authorized to invest in bonds or other obligations of the state
may properly and legally invest any funds including capital belonging to them or within their
control. The bonds or other securities or obligations are hereby...
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11-89B-6
Section 11-89B-6 Investment of bond proceeds. The proceeds of any such bonds issued by such
public corporation and moneys held in any special fund established by such public corporation
in connection with the issuance of any of its bonds may be invested in any direct obligations
of the United States of America, the obligations of any agency of the United States of America,
interest bearing bank deposits, or in any securities the payment of the principal of and interest
on which is fully secured by direct obligations of the United States of America or in any
obligations in which municipal or county funds are authorized to be invested pursuant to Section
11-81-21. (Acts 1991, No. 91-551, p. 1015, §6.)...
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40-18-35
Section 40-18-35 Deductions allowed to corporations. (a) The following items shall be deducted
from federal taxable income for purposes of computing taxable income under this chapter: (1)
Refunds of state and local income taxes. (2) Federal income tax paid or accrued during the
taxpayer's taxable year. The portion of federal income tax deductible by a corporation earning
income from sources both inside and outside of Alabama shall be determined by the ratio that
the corporation's taxable income, computed without the deduction for federal income tax, apportioned
and allocated to Alabama bears to the corporation's taxable income, computed without the deduction
for federal income tax, apportioned and allocated everywhere. (3) Interest income earned on
obligations of the United States. (4)a. Interest income earned on obligations of the State
of Alabama or its subdivisions or instrumentalities thereof to the extent included in gross
income for the purposes of federal income taxation. b....
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16-18B-19
Section 16-18B-19 Exemption from federal income taxation. The corporation on behalf of the
state shall have the power to provide for such payments to the United States of America as
the directors deem necessary to cause the interest on any bonds to be and remain exempt from
federal income taxation. The corporation shall have the power to make agreements respecting
the investment of the proceeds of the bonds or other funds of the corporation necessary in
order that the interest income on bonds of the corporation be and remain exempt from federal
income taxation. (Act 98-391, p. 771, §19.)...
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22-21-152
Section 22-21-152 Investment of funds. (a) Any portion of the principal proceeds derived from
the sale of the bonds which the board may determine is not presently needed for any of the
purposes for which the bonds are authorized to be issued, and any other moneys of the authority
which the board may determine will not be presently needed by the authority may, on order
of the board, be invested in: (1) Any securities that are direct general obligations of the
United States of America or the principal of and interest on which are unconditionally and
irrevocably guaranteed by the United States of America; (2) Any debt securities that are direct
obligations of any agency of the United States of America; (3) Interest-bearing bank time
deposits and interest-bearing bank certificates of deposit; and (4) Interest-bearing time
deposits and interest-bearing certificates of deposit of any federally-chartered savings and
loan association. (b) Any securities, time deposits or certificates of...
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27-41-11
Section 27-41-11 Particular investments - Bonds, etc., of local public housing authorities.
An insurer may invest in bonds, debentures, or other evidences of indebtedness of local public
housing authorities existing under the laws of the United States or of any state if such obligations
are: (1) Secured by a pledge of annual contributions unconditionally payable under the annual
contributions contract between the Department of Housing and Urban Development and the local
agencies issuing the bonds; (2) Unconditionally guaranteed by the state, municipality, or
political subdivision creating the authority, if the tax supported obligations of such state,
municipality, or political subdivision so guaranteeing would be eligible for investment under
this chapter; or (3) Secured by payments to be made sufficient to pay principal and interest
on the bonds under an "assistance contract" between the local authority and the
state, municipality, or other political subdivision creating the...
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11-101A-20
Section 11-101A-20 Investments. (a) To the extent permitted by the contracts of the authority
with the holders of its securities and if not otherwise specifically prohibited by any other
provision of this chapter, the authority may invest any portion of the principal proceeds
derived from the sale of any of its securities which is not then needed for any of the purposes
for which the securities were authorized to be issued, the moneys held in any special fund
created pursuant to any resolution or indenture authorizing or securing any of its securities,
and any other moneys of the authority not then needed by it, in any of the following: (1)
Federal securities. (2) Any debt securities that are direct obligations of any agency of the
United States of America. (3) Interest-bearing bank time deposits and interest-bearing bank
certificates of deposit. (4) Money market funds whose investments are restricted to federal
securities. (5) Repurchase agreements with respect to federal securities....
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11-3-14
Section 11-3-14 Disposition of funds from special tax levy. The county commission may deposit
any funds arising from any special tax levied to pay bonds issued by said county which are
in excess of amounts then payable on said bonds in some solvent savings bank in the State
of Alabama in the name of the county or invest the same in interest-bearing securities issued
by the United States government or by the State of Alabama. The interest accruing on such
deposit or from such securities shall be a part of such special fund and shall be devoted
to the same uses as the principal of said fund. The county commission shall require adequate
bond of said bank to secure the safety of said deposit, which bond shall be in such sum as
such county commission shall fix, having due regard to the safety of county funds. (Acts 1923,
No. 509, p. 680; Code 1923, §6756; Code 1940, T. 12, §15.)...
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22-21-332
Section 22-21-332 Investment of funds. (a) To the extent permitted by the contracts of the
authority with the holders of its securities and if not otherwise specifically prohibited
by any other provision of this article, the authority may invest any portion of the principal
proceeds derived from the sale of any of its securities which is not then needed for any of
the purposes for which such securities were authorized to be issued, the moneys held in any
special fund created pursuant to any resolution or indenture authorizing or securing any of
its securities, and any other moneys of the authority not then needed by it, in any of the
following: (1) Federal securities; (2) Any debt securities that are direct obligations of
any agency of the United States of America; (3) Interest-bearing bank time deposits and interest-bearing
bank certificates of deposit; and (4) Interest-bearing time deposits and interest-bearing
certificates of deposit of any federally-chartered savings and loan...
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