Ala. Code § 45-37A-56.40: Eligibility of Bonds as Investments for Trust Funds.

Bonds issued under this subpart are hereby made legal investments for executors, administrators, trustees, and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary’s authority. Such bonds shall be legal investments for savings banks and insurance companies organized under the laws of the state.