Ala. Code § 37-7-15

Current through the 2024 Regular Session.

Section 37-7-15 - Bonds or obligations - Purchase of own obligations

A corporation shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All obligations so purchased shall be cancelled.

Ala. Code § 37-7-15 (1975)

Acts 1935, No. 45, p. 100; Code 1940, T. 18, §24.