27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
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7-2A-307
Section 7-2A-307 Priority over lease contract. (1) Except as otherwise provided in Section
7-2A-306, a creditor of a lessee takes subject to the lease contract. (2) Except as otherwise
provided in subsection (3) and in Sections 7-2A-306 and 7-2A-308, a creditor of a lessor takes
subject to the lease contract unless the creditor holds a lien that attached to the goods
before the lease contract became enforceable. (3) Except as otherwise provided in Sections
7-9A-317, 7-9A-321, and 7-9A-323, a lessee takes a leasehold interest subject to a security
interest held by a creditor of the lessor. (Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §307;
Act 2001-481, p. 647, §2.)...
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7-2A-211
Section 7-2A-211 Warranties against interference and against infringement; lessee's obligation
against infringement. (1) There is in a lease contract a warranty that for the lease term
no person holds a claim to or interest in the goods that arose from an act or omission of
the lessor, other than a claim by way of infringement or the like, which will interfere with
the lessee's enjoyment of its leasehold interest. (2) Except in a finance lease there is in
a lease contract by a lessor who is a merchant regularly dealing in goods of the kind a warranty
that the goods are delivered free of the rightful claim of any person by way of infringement
or the like. (3) A lessee who furnishes specifications to a lessor or a supplier shall hold
the lessor and the supplier harmless against any claim by way of infringement or the like
that arises out of compliance with the specifications. (Acts 1992, 2nd Ex. Sess., No. 92-700,
p. 92, §211.)...
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7-2A-516
Section 7-2A-516 Effect of acceptance of goods; notice of default; burden of establishing default
after acceptance; notice of claim or litigation to person answerable over. (1) A lessee must
pay rent for any goods accepted in accordance with the lease contract, with due allowance
for goods rightfully rejected or not delivered. (2) A lessee's acceptance of goods precludes
rejection of the goods accepted. In the case of a finance lease, other than a consumer lease
in which the supplier assisted in the preparation of the lease contract or participated in
negotiating the terms of the lease contract with the lessor, if made with knowledge of a nonconformity,
acceptance cannot be revoked because of it. In any other case, if made with knowledge of a
nonconformity, acceptance cannot be revoked because of it unless the acceptance was on the
reasonable assumption that the nonconformity would be seasonably cured. Acceptance does not
of itself impair any other remedy provided by this article or...
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7-2A-407
Section 7-2A-407 Irrevocable promises: Finance leases. (1) In the case of a finance lease that
is not a consumer lease the lessee's promises under the lease contract become irrevocable
and independent upon the lessee's acceptance of the goods. (2) A promise that has become irrevocable
and independent under subsection (1): (a) is effective and enforceable between the parties,
and by or against third parties including assignees of the parties; and (b) is not subject
to cancellation, termination, modification, repudiation, excuse, or substitution without the
consent of the party to whom the promise runs. (3) This section does not affect the validity
under any other law of a covenant in any lease contract making the lessee's promises irrevocable
and independent upon the lessee's acceptance of the goods. (Acts 1992, 2nd Ex. Sess., No.
92-700, p. 92, §407.)...
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35-4-51.1
Section 35-4-51.1 Recordation of memorandum of lease; contents; effect. (a) A memorandum of
a lease may be recorded in lieu of the lease itself if the memorandum is executed and acknowledged
by the lessor and the lessee and contains: (1) The names of the lessor and lessee; (2) The
term of the lease; (3) Any option of the lessee to renew or extend the term of the lease;
and (4) The specific legal description of the leased premises, or a survey or plot plan authorized
under subsection (c) showing the location of the leased premises. (b) A memorandum recorded
under this section may also contain any other agreement made between the lessor and the lessee
in the lease. (c) A survey or plot plan may be used in lieu of a specific legal description
to describe: (1) Any part of a building on the leased premises, if the specific legal description
of the real property on which the building is located is set forth in the memorandum, survey,
or plot plan; (2) Any part of the leased premises that is...
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7-2A-213
Section 7-2A-213 Implied warranty of fitness for particular purpose. Except in a finance lease,
if the lessor at the time the lease contract is made has reason to know of any particular
purpose for which the goods are required and that the lessee is relying on the lessor's skill
or judgment to select or furnish suitable goods, there is in the lease contract an implied
warranty that the goods will be fit for that purpose. (Acts 1992, 2nd Ex. Sess., No. 92-700,
p. 92, §213.)...
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13A-8-141
Section 13A-8-141 Prima facie evidence of fraudulent leasing or rental. For the purposes of
Section 13A-8-140 of this article, it is prima facie evidence that a lessee fraudulently leased
or rented property, and intended, knew or expected that he would not perform the terms and
obligations of the lessee under a rental contract if: (1) The name or address of the lessee
appearing on the written agreement shall, at the time it is signed, be false or fictitious,
and if the lessee fails to return the leased property to the lessor within seven days after
lessor makes written demand for its return, notwithstanding that the term under the rental
contract has not expired; or (2) The rental contract provides for the return of the leased
property to a particular place, at a particular time, and the lessee shall fail to return
the leased property to the place and within the time specified in the said rental contract,
and the lessor thereafter makes written demand for the return of the leased...
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41-10-275
Section 41-10-275 Terms and conditions of leasing by authority. The authority, as lessor, and
the Unified Judicial System, as lessee (acting by and through the Chief Justice or his designee)
are hereby authorized to enter into a lease or leases for the use and occupancy of the judicial
facilities constructed by the authority under the provisions of this article by the Unified
Judicial System, including the Supreme Court, the Court of Criminal Appeals, the Court of
Civil Appeals, the State Law Library and the Administrative Office of Courts. Such lease or
leases may commence, at the discretion of the authority and the lessee, at such time as the
judicial facilities are completed and available for occupancy or at such time as the site
for such judicial facilities is made available for construction of the judicial facilities.
The responsibilities for control, management and maintenance of the judicial facilities shall
be, and any lease entered by the authority, as lessor, shall provide...
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7-2A-509
Section 7-2A-509 Lessee's rights on improper delivery; rightful rejection. (1) Subject to the
provisions of Section 7-2A-510 on default in installment lease contracts, if the goods or
the tender or delivery fail in any respect to conform to the lease contract, the lessee may
reject or accept the goods or accept any commercial unit or units and reject the rest of the
goods. (2) Rejection of goods is ineffective unless it is within a reasonable time after tender
or delivery of the goods and the lessee seasonably notifies the lessor. (Acts 1992, 2nd Ex.
Sess., No. 92-700, p. 92, §509.)...
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