Ala. Code § 41-10-767: Bonds Are Legal Investments.

Bonds issued by the authority are hereby made a legal investment for savings banks and insurance companies organized under the laws of the state and for trustees, executors, administrators, guardians, persons or organizations acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or by a document providing fiduciary authority. Any governmental entity or public corporation is authorized, in its discretion, to invest any available funds in the bonds of the authority.