7-3-415
Section 7-3-415 Obligation of indorser. (a) Subject to subsections (b), (c), and (d) and to
Section 7-3-419(d), if an instrument is dishonored, an indorser is obliged to pay the amount
due on the instrument (i) according to the terms of the instrument at the time it was indorsed,
or (ii) if the indorser indorsed an incomplete instrument, according to its terms when completed,
to the extent stated in Sections 7-3-115 and 7-3-407. The obligation of the indorser is owed
to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument
under this section. (b) If an indorsement states that it is made "without recourse"
or otherwise disclaims liability of the indorser, the indorser is not liable under subsection
(a) to pay the instrument. (c) If notice of dishonor of an instrument is required by Section
7-3-503 and notice of dishonor complying with that section is not given to an indorser, the
liability of the indorser under subsection (a) is discharged. (d)...
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7-8-102
Section 7-8-102 Definitions. (a) In this article: (1) "Adverse claim" means a claim
that a claimant has a property interest in a financial asset and that it is a violation of
the rights of the claimant for another person to hold, transfer, or deal with the financial
asset. (2) "Bearer form," as applied to a certificated security, means a form in
which the security is payable to the bearer of the security certificate according to its terms
but not by reason of an indorsement. (3) "Broker" means a person defined as a broker
or dealer under the federal securities laws, but without excluding a bank acting in that capacity.
(4) "Certificated security" means a security that is represented by a certificate.
(5) "Clearing corporation" means: (i) a person that is registered as a "clearing
agency" under the federal securities laws; (ii) a federal reserve bank; or (iii) any
other person that provides clearance or settlement services with respect to financial assets
that would require it to...
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8-6-71
Section 8-6-71 (Repealed effective January 1, 1997) Definitions. For the purposes of this article,
unless the context otherwise requires, the following terms shall have the meanings respectively
ascribed to them by this section: Assignment. Such term includes any written stock power,
bond power, bill of sale, deed, declaration of trust, or other instrument of transfer. Claim
of beneficial interest. Such term includes a claim of any interest by a decedent's legatee,
distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of
a security registered in the name of a nominee or a minor owner of a security registered in
the name of a custodian, or a claim of any similar interest whether the claim is asserted
by the claimant, a fiduciary, or by any other authorized person on his behalf and includes
a claim that the transfer would be in breach of fiduciary duties. Corporation. A private or
public corporation, association, or trust issuing a security. Fiduciary. An...
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1-1-1
Section 1-1-1 Meaning of certain words and terms. The following words, whenever they appear
in this Code, shall have the signification attached to them in this section unless otherwise
apparent from the context: (1) PERSON. The word "person" includes a corporation
as well as a natural person. (2) WRITING. The word "writing" includes typewriting
and printing on paper. (3) OATH. The word "oath" includes affirmation. (4) SIGNATURE
or SUBSCRIPTION. The words "signature" or "subscription" include a mark
when the person cannot write, if his name is written near the mark, and witnessed by a person
who writes his own name as a witness, and include with respect to corporate securities facsimile
signature placed upon any instrument or writing with intent to execute or authenticate such
instrument or writing. (5) LUNATIC, INSANE or NON COMPOS MENTIS. The words "lunatic"
or "insane" or the term "non compos mentis" include all persons of unsound
mind. (6) PROPERTY. The word "property" includes both...
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10A-8A-8.07
Section 10A-8A-8.07 Other claims against dissolved partnership. Notwithstanding Sections 10A-1-9.01
and 10A-1-9.22: (a) A dissolved partnership may publish notice of its dissolution and request
that persons with claims against the dissolved partnership present them in accordance with
the notice. (b) The notice authorized by subsection (a) must: (1) be published at least one
time in a newspaper of general circulation in the county in which the dissolved partnership's
principal office in this state is located, and if none, was last located; (2) describe the
information that must be included in a claim and provide a mailing address to which the claim
is to be sent; (3) state that if not sooner barred, a claim against the dissolved partnership
will be barred unless a proceeding to enforce the claim is commenced within two years after
the publication of the notice; and (4) unless the partnership has been throughout its existence
a limited liability partnership, state that the barring of a...
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35-11-227
Section 35-11-227 Actions by employees, etc.; defense by contractor. (a) If the action is by
an employee of the contractor, or by any person who has furnished to him material for the
building or improvement, the contractor shall be a necessary party defendant thereto; and
in such action on motion of the plaintiff, the owner or proprietor may be cited to answer
under oath how much was owing by him to the contractor on his contract with such contractor,
at the time of the service on him of the notice required by Section 35-11-218; and such answer
may be controverted, and proceedings had and judgment entered as in garnishment cases. (b)
When the lien is sought to be enforced by any person other than the contractor, it shall be
the duty of the contractor to defend the action at his own expense; and after notice of an
intention to file a statement of the lien, and pending the action, the owner or proprietor
may withhold from the contractor money sufficient to cover the amount claimed, and...
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37-9-28
Section 37-9-28 Duties of air carriers as to service, facilities, etc.; undue preferences and
advantages prohibited; extension of credit; commission to establish, enforce, etc., reasonable
rates, fares, etc.; proceedings as to validity of rates, fares, etc.; authority to prescribe
service and rates, fares, etc.; time tables. (a) It shall be the duty of every common carrier
by aircraft to provide and furnish intrastate transportation, as authorized by its certificate,
upon reasonable request to have and to provide reasonable through intrastate service in such
transportation in connection with other such carriers or with common carriers by railroad,
motor vehicles, express or water; to provide adequate and reasonable service, equipment, facilities,
waiting rooms and rest rooms, in connection with such transportation; to establish, observe
and enforce just and reasonable individual and joint rates, fares and charges and just and
reasonable classifications, rules, regulations and practices...
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43-2-751
Section 43-2-751 Action by creditor to recover dividend. (a) Any creditor of an insolvent estate,
whose claim is not barred, may bring a civil action against any person who has received any
dividend of such estate and may recover from him such an amount of the dividend he has received
as shall be in the same proportion thereto as the claim of the plaintiff bears to the debts
of the estate distributed, including the claim of the plaintiff. (b) But, in such action,
the defendant may reduce the recovery, by showing that such dividend has been reduced by the
recovery or payment of the claims of other creditors of such estate in the like proportion.
(c) In such action, the plaintiff must pay the costs, unless he proves that he has exhibited
his claim and demanded of the defendant his proportion of the dividend received by him before
the commencement of the action. (Code 1852, §§1864-1866; Code 1867, §§2213-2215; Code
1876, §§2585-2587; Code 1886, §§2255-2257; Code 1896, §§323-325;...
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43-8-132
Section 43-8-132 Self-proved will - Form and execution; how attested will made self-proved;
effect. (a) Any will may be simultaneously executed, attested, and made self-proved, by acknowledgment
thereof by the testator and affidavits of the witnesses, each made before an officer authorized
to administer oaths under the laws of the state where execution occurs and evidenced by the
officer's certificate, under official seal, in substantially the following form: "I,
_____, the testator, sign my name to this instrument this ______ day of _____, 19__, and being
first duly sworn, do hereby declare to the undersigned authority that I sign and execute this
instrument as my last will and that I sign it willingly (or willingly direct another to sign
for me), that I execute it as my free and voluntary act for the purposes therein expressed,
and that I am 18 years of age or older, of sound mind, and under no constraint or undue influence."
___ Testator "We, _____, the witnesses, sign...
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7-3-116
Section 7-3-116 Joint and several liability; contribution. (a) Except as otherwise provided
in the instrument, two or more persons who have the same liability on an instrument as makers,
drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly
and severally liable in the capacity in which they sign. (b) Except as provided in Section
7-3-419(e) or by agreement of the affected parties, a party having joint and several liability
who pays the instrument is entitled to receive from any party having the same joint and several
liability contribution in accordance with applicable law. (c) Discharge of one party having
joint and several liability by a person entitled to enforce the instrument does not affect
the right under subsection (b) of a party having the same joint and several liability to receive
contribution from the party discharged. (Acts 1995, No. 95-668, p. 1381, §1.)...
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