Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/7-9A-310.htm |
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Depth: | 0 singles |
Size: | 2,254 bytes |
Modified: | 2006-04-07 14:47:18 |
Categories: | -None- |
Title: | 7-9A-310 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. (a) General rule: Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f), or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under Section 7-9A-312(e), (f), or (g); (6) in collateral in the secured party's possession under Section 7-9A-313; (7) in a certificated security which is perfected by delivery of the security certificate to the secured party under Section 7-9A-313; (8) in deposit accounts, electronic documents, electronic chattel paper, investment property, or letter-of-credit rights which is perfected by control under Section 7-9A-314; (9) in proceeds which is perfected under Section 7-9A-315; or (10) that is perfected under Section 7-9A-316. (c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this article is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. (Act 2001-481, p. 647, §1; Act 2004-315, p. 464, §2.) |