7-7-504
Section 7-7-504 Rights acquired in absence of due negotiation; effect of diversion; stoppage
of delivery. (a) A transferee of a document of title, whether negotiable or nonnegotiable,
to which the document has been delivered but not duly negotiated, acquires the title and rights
that its transferor had or had actual authority to convey. (b) In the case of a transfer of
a nonnegotiable document of title, until but not after the bailee receives notice of the transfer,
the rights of the transferee may be defeated: (1) By those creditors of the transferor which
could treat the transfer as void under Section 7-2-402 or 7-2A-308; (2) By a buyer from the
transferor in ordinary course of business if the bailee has delivered the goods to the buyer
or received notification of the buyer's rights; (3) By a lessee from the transferor in ordinary
course of business if the bailee has delivered the goods to the lessee or received notification
of the lessee's rights; or (4) As against the bailee, by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-7-504.htm - 2K - Match Info - Similar pages

7-9A-502
Section 7-9A-502 Contents of financing statement; record of mortgage as financing statement;
time of filing financing statement. (a) Sufficiency of financing statement. Subject to subsection
(b), a financing statement is sufficient only if it: (1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the secured party; and (3)
indicates the collateral covered by the financing statement. (b) Real-property-related financing
statements. Except as otherwise provided in Section 7-9A-501(b), to be sufficient, a financing
statement that covers as-extracted collateral or timber to be cut, or which is filed as a
fixture filing and covers goods that are or are to become fixtures, must satisfy subsection
(a) and also: (1) indicate that it covers this type of collateral; (2) indicate that it is
to be filed in the real property records; (3) provide a description of the real property to
which the collateral is related sufficient to give constructive...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-502.htm - 2K - Match Info - Similar pages

27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-41-30.htm - 4K - Match Info - Similar pages

34-3-104
Section 34-3-104 Powers of foundation. The foundation shall have the following powers: (1)
To have succession by its corporate name in perpetuity; (2) To sue and be sued and to prosecute
and defend in any court having jurisdiction of the subject matter and of the parties thereto;
(3) To adopt and use a corporate seal and to alter the same at pleasure; (4) To acquire by
gift, grant, purchase, condemnation, or otherwise, and to hold title to, real or personal
property, or both, together with all rights incidental thereto; (5) To construct, erect, operate,
and maintain one or more buildings for use by the Alabama State Bar; (6) To lease and make
available to the Alabama State Bar all or any part of the space in any of its buildings, with
or without the payment of rental and on such other terms and conditions as the board of trustees
of the foundation may prescribe; (7) To lease, as either lessor or lessee and on such terms
and conditions as its board of trustees may prescribe, any real or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-3-104.htm - 1K - Match Info - Similar pages

5-8A-35
Section 5-8A-35 Assumption or rejection of executory contracts by receiver. The receiver shall
assume or reject an executory contract, including an unexpired lease of real or personal property,
within 60 days after appointment, but the receivership court may for cause shown extend or
reduce the time. Any such contract or lease not assumed or rejected within that time shall
be deemed to be rejected. The receiver shall file within 60 days of his appointment, a statement
under oath showing which, if any, of the contracts of the bank are executory in whole or in
part, including unexpired leases of real or personal property, and which, if any, have been
rejected by the receiver. Unless a lease of real or personal property expressly otherwise
provides, a rejection of the lease or of any covenant therein by the receiver of the lessor
does not deprive the lessee of his estate. A general covenant or condition in a lease that
it shall not be assigned shall not be construed to prevent the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-8A-35.htm - 1K - Match Info - Similar pages

7-2A-521
Section 7-2A-521 Lessee's right to specific performance or replevin. (1) Specific performance
may be decreed if the goods are unique or in other proper circumstances. (2) A decree for
specific performance may include any terms and conditions as to payment of the rent, damages,
or other relief that the court deems just. (3) A lessee has a right of replevin, detinue,
sequestration, claim and delivery, or the like for goods identified to the lease contract
if after reasonable effort the lessee is unable to effect cover for those goods or the circumstances
reasonably indicate that the effort will be unavailing. (Acts 1992, 2nd Ex. Sess., No. 92-700,
p. 92, §521.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-2A-521.htm - 995 bytes - Match Info - Similar pages

7-9A-313
Section 7-9A-313 When possession by or delivery to secured party perfects security interest
without filing. (a) Perfection by possession or delivery. Except as otherwise provided in
subsection (b), a secured party may perfect a security interest in tangible negotiable documents,
goods, instruments, money, or tangible chattel paper by taking possession of the collateral.
A secured party may perfect a security interest in certificated securities by taking delivery
of the certificated securities under Section 7-8-301. (b) Goods covered by certificate of
title. With respect to goods covered by a certificate of title issued by this State, a secured
party may perfect a security interest in the goods by taking possession of the goods only
in the circumstances described in Section 7-9A-316(d). (c) Collateral in possession of person
other than debtor. With respect to collateral other than certificated securities and goods
covered by a document, a secured party takes possession of collateral in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-313.htm - 4K - Match Info - Similar pages

8-37-2
Section 8-37-2 (Effective January 1, 2018) Definitions. For the purposes of this chapter, the
following words have the following meanings: (1) ADMINISTRATOR. A person, other than an insurer
or creditor, that performs administrative or operational functions pursuant to guaranteed
asset protection waiver programs. (2) BORROWER. A debtor, retail buyer or lessee, under a
finance agreement. (3) CREDITOR means any of the following: a. The lender in a loan or credit
transaction. b. The lessor in a lease transaction. c. Any retail seller of motor vehicles
in a retail installment transaction. d. The seller in commercial retail installment transactions.
e. The assignees of any of the foregoing to whom the credit or lease obligation is payable.
(4) FINANCE AGREEMENT. A loan, lease, or retail installment sales contract for the purchase
or lease of a motor vehicle. (5) FREE LOOK PERIOD. The period of time from the effective date
of the GAP waiver until the date the borrower may cancel the GAP...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-37-2.htm - 2K - Match Info - Similar pages

13A-8-142
Section 13A-8-142 Written demand for return of leased property; form of notice. For the purposes
of Section 13A-8-141 of this article: (1) A written demand for the return of leased property
may be made by personally delivering a copy thereof to the lessee; such demand may also be
delivered to a lessee by certified United States mail, directed to lessee at his address shown
on the rental contract, and the return receipt shall be deemed sufficient evidence that the
demand was received by the lessee, on the date shown on the receipt. (2) The form of notice
to be given under subdivision (1) of Section 13A-8-141 shall be sufficient if substantially
as follows: "This statutory notice is provided pursuant to Section _____ of the Code
of Alabama. You are hereby notified that the name or address given by you, as lessee, and
appearing on the rental contract dated _____, wherein _____ is the lessor, was fictitious
or false. Pursuant to Alabama law you have seven (7) days from receipt of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/13A-8-142.htm - 3K - Match Info - Similar pages

35-8A-206
Section 35-8A-206 Leasehold condominiums. (a) Any lease the expiration or termination of which
may terminate the condominium or reduce its size shall be recorded. Every lessor of those
leases must sign the declaration, and the declaration must state: (1) The recording data for
the lease, the date of the lease, and the date of its recordation; (2) The date on which the
lease is scheduled to expire; (3) A legally sufficient description of the real estate subject
to the lease; (4) Any right of the unit owners to redeem the reversion and the manner whereby
those rights may be exercised, or a statement that they do not have those rights; (5) Any
right of the unit owners to remove any improvements within a reasonable time after the expiration
or termination of the lease, or a statement that they do not have those rights; and (6) Any
rights of the unit owners to renew the lease and the conditions of any renewal, or a statement
that they do not have those rights. (b) After the declaration for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-206.htm - 2K - Match Info - Similar pages