7-3-310
Section 7-3-310 Effect of instrument on obligation for which taken. (a) Unless otherwise agreed,
if a certified check, cashier's check, or teller's check is taken for an obligation, the obligation
is discharged to the same extent discharge would result if an amount of money equal to the
amount of the instrument were taken in payment of the obligation. Discharge of the obligation
does not affect any liability that the obligor may have as an indorser of the instrument.
(b) Unless otherwise agreed and except as provided in subsection (a), if a note or an uncertified
check is taken for an obligation, the obligation is suspended to the same extent the obligation
would be discharged if an amount of money equal to the amount of the instrument were taken,
and the following rules apply: (1) In the case of an uncertified check, suspension of the
obligation continues until dishonor of the check or until it is paid or certified. Payment
or certification of the check results in discharge of the...
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7-3-413
Section 7-3-413 Obligation of acceptor. (a) The acceptor of a draft is obliged to pay the draft
(i) according to its terms at the time it was accepted, even though the acceptance states
that the draft is payable "as originally drawn" or equivalent terms, (ii) if the
acceptance varies the terms of the draft, according to the terms of the draft as varied, or
(iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms
when completed, to the extent stated in Sections 7-3-115 and 7-3-407. The obligation is owed
to a person entitled to enforce the draft or to the drawer or an indorser who paid the draft
under Section 7-3-414 or 7-3-415. (b) If the certification of a check or other acceptance
of a draft states the amount certified or accepted, the obligation of the acceptor is that
amount. If (i) the certification or acceptance does not state an amount, (ii) the amount of
the instrument is subsequently raised, and (iii) the instrument is then negotiated to a...

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7-3-302
Section 7-3-302 Holder in due course. (a) Subject to subsection (c) and Section 7-3-106(d),
"holder in due course" means the holder of an instrument if: (1) The instrument
when issued or negotiated to the holder does not bear such apparent evidence of forgery or
alteration or is not otherwise so irregular or incomplete as to call into question its authenticity;
and (2) The holder took the instrument (i) for value, (ii) in good faith, (iii) without notice
that the instrument is overdue or has been dishonored or that there is an uncured default
with respect to payment of another instrument issued as part of the same series, (iv) without
notice that the instrument contains an unauthorized signature or has been altered, (v) without
notice of any claim to the instrument described in Section 7-3-306, and (vi) without notice
that any party has a defense or claim in recoupment described in Section 7-3-305(a). (b) Notice
of discharge of a party, other than discharge in an insolvency proceeding,...
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7-3-603
Section 7-3-603 Tender of payment. (a) If tender of payment of an amount due on an instrument
is made to a person entitled to enforce the instrument, the effect of tender is governed by
principles of law applicable to tender of payment under a simple contract and by subsections
(b), (c) and (d). (b) If tender of payment of an amount due on an instrument is made to a
person entitled to enforce the instrument and the tender is refused, there is discharge, to
the extent of the amount of the tender, of the obligation of an indorser or accommodation
party having a right of recourse with respect to the obligation to which the tender relates.
(c) If tender of payment of an amount due on an instrument is made to a person entitled to
enforce the instrument, the obligation of the obligor to pay interest after the due date on
the amount tendered is discharged. If presentment is required with respect to an instrument
and the obligor is able and ready to pay on the due date at every place of...
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7-3-605
Section 7-3-605 Discharge of indorsers and accommodation parties. (a) In this section, the
term "indorser" includes a drawer having the obligation described in Section 7-3-414(d).
(b) Discharge, under Section 7-3-604, of the obligation of a party to pay an instrument does
not discharge the obligation of an indorser or accommodation party having a right of recourse
against the discharged party. (c) If a person entitled to enforce an instrument agrees, with
or without consideration, to an extension of the due date of the obligation of a party to
pay the instrument, the extension discharges an indorser or accommodation party having a right
of recourse against the party whose obligation is extended to the extent the indorser or accommodation
party proves that the extension caused loss to the indorser or accommodation party with respect
to the right of recourse. (d) If a person entitled to enforce an instrument agrees, with or
without consideration, to a material modification of the...
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7-3-305
Section 7-3-305 Defenses and claims in recoupment. (a) Except as stated in subsection (b),
the right to enforce the obligation of a party to pay an instrument is subject to the following:
(1) A defense of the obligor based on (i) infancy of the obligor to the extent it is a defense
to a simple contract, (ii) duress, lack of legal capacity, or illegality of the transaction
which, under other law, nullifies the obligation of the obligor, (iii) fraud that induced
the obligor to sign the instrument with neither knowledge nor reasonable opportunity to learn
of its character or its essential terms, or (iv) discharge of the obligor in insolvency proceedings;
(2) A defense of the obligor stated in another section of this article or a defense of the
obligor that would be available if the person entitled to enforce the instrument were enforcing
a right to payment under a simple contract; and (3) A claim in recoupment of the obligor against
the original payee of the instrument if the claim arose...
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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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7-3-414
Section 7-3-414 Obligation of drawer. (a) This section does not apply to cashier's checks or
other drafts drawn on the drawer. (b) If an unaccepted draft is dishonored, the drawer is
obliged to pay the draft (i) according to its terms at the time it was issued or, if not issued,
at the time it first came into possession of a holder, or (ii) if the drawer signed an incomplete
instrument, according to its terms when completed, to the extent stated in Sections 7-3-115
and 7-3-407. The obligation is owed to a person entitled to enforce the draft or to an indorser
who paid the draft under Section 7-3-415. (c) If a draft is accepted by a bank, the drawer
is discharged, regardless of when or by whom acceptance was obtained. (d) If a draft is accepted
and the acceptor is not a bank, the obligation of the drawer to pay the draft if the draft
is dishonored by the acceptor is the same as the obligation of an indorser under Section 7-3-415(a)
and (c). (e) If a draft states that it is drawn...
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22-32-1
Section 22-32-1 Enactment of Southeast Interstate Low-Level Radioactive Waste Management Compact.
The Southeast Interstate Low-Level Radioactive Waste Management Compact is hereby enacted
into law and entered into by the State of Alabama with any and all states legally joining
therein in accordance with its terms, in the form substantially as follows: SOUTHEAST INTERSTATE
LOW-LEVEL RADIOACTIVE WASTE MANAGEMENT COMPACT Article I. Policy and Purpose There is hereby
created the Southeast Interstate Low-Level Radioactive Waste Management Compact. The party
states recognize and declare that each state is responsible for providing for the availability
of capacity either within or outside the state for the disposal of low-level radioactive waste
generated within its borders, except for waste generated as a result of defense activities
of the federal government or federal research and development activities. They also recognize
that the management of low-level radioactive waste is handled most...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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