Alabama Code 19-4A-2. Investment in accordance with terms of governing document
Current as of: 2024 | Check for updates
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Terms Used In Alabama Code 19-4A-2
- Fiduciary: A trustee, executor, or administrator.
- fiduciary account: shall mean any account for which the bank or trust company has investment responsibility. See Alabama Code 19-4A-1
A bank or trust company duly authorized to exercise fiduciary powers through the operation of a trust department shall invest idle funds in each fiduciary account in accordance with the specific terms of the governing document.