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7-3-420
Section 7-3-420 Conversion of instrument. (a) An instrument is converted under circumstances
which would constitute conversion under personal property law. An instrument is also converted
if it is taken by transfer, other than a negotiation, from a person not entitled to enforce
the instrument or a bank makes or obtains payment with respect to the instrument for a person
not entitled to enforce the instrument or receive payment. An action for conversion of an
instrument may not be brought by (i) the issuer or acceptor of the instrument or (ii) a payee
or indorsee who did not receive delivery of the instrument either directly or through delivery
to an agent or a co-payee. (b) In an action under subsection (a), the measure of liability
is presumed to be the amount payable on the instrument, but recovery may not exceed the amount
of the plaintiff's interest in the instrument. (c) A representative, other than a depositary
bank, who has in good faith dealt with an instrument or its proceeds...
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8-33-7
Section 8-33-7 Form and contents of warranty. (a) Every vehicle protection product warranty
in its entirety shall be written, printed, or typed in eight point type size or larger and
shall not be sold or offered for sale in this state unless the warranty: (1) States that the
obligations of the warrantor to the warranty holder are guaranteed under a warranty reimbursement
insurance policy if the warrantor elects to meet its financial responsibility obligations
under subsection (b) of Section 8-33-5 or states that the obligations of the warrantor under
the warranty are backed by the full faith and credit of the warrantor if the warrantor elects
to meet its financial responsibility obligations under subsection (c) of Section 8-33-5. (2)
States that in the event a warranty holder must make a claim against a party other than the
warranty reimbursement insurance policy issuer, the warranty holder is entitled to make a
direct claim against the insurer upon the failure of the warrantor to pay...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-7.htm - 3K - Match Info - Similar pages
8-9A-8
Section 8-9A-8 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9A-4(a) against a person who took in good faith and for a reasonably equivalent
value or against any subsequent transferee or obligee who took in good faith. (b) Except as
otherwise provided in this section, to the extent a transfer is voidable in an action by a
creditor under Section 8-9A-7(a)(1), the creditor may recover judgment for the value of the
asset transferred, as adjusted under subsection (c), or the amount necessary to satisfy the
creditor's claim, whichever is less, or judgment for conveyance of the asset transferred.
The judgment may be entered against: (1) The first transferee of the asset or the person for
whose benefit the transfer was made; or (2) Any subsequent transferee other than a good faith
transferee who took for value or from any subsequent transferee. (c) If the judgment under
subsection (b) is based upon the value of the asset transferred, 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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7-3-406
Section 7-3-406 Negligence contributing to forged signature or alteration of instrument. (a)
A person whose failure to exercise ordinary care substantially contributes to an alteration
of an instrument or to the making of a forged signature on an instrument is precluded from
asserting the alteration or the forgery against a person who, in good faith, pays the instrument
or takes it for value or for collection. (b) Under subsection (a), if the person asserting
the preclusion fails to exercise ordinary care in paying or taking the instrument and that
failure substantially contributes to loss, the loss is allocated between the person precluded
and the person asserting the preclusion according to the extent to which the failure of each
to exercise ordinary care contributed to the loss. (c) Under subsection (a), the burden of
proving failure to exercise ordinary care is on the person asserting the preclusion. Under
subsection (b), the burden of proving failure to exercise ordinary care is...
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26-10C-1
Section 26-10C-1 Registration of putative fathers; notice of intent to claim paternity; release
of information. (a) The Department of Human Resources shall establish a putative father registry
which shall record the names, Social Security number, date of birth, and addresses of the
following: (1) Any person adjudicated by a court of this state to be the father of a child
born out of wedlock. (2) Any person who has filed with the registry before or after the birth
of a child born out of wedlock, a notice of intent to claim paternity of the child, which
includes the information required in subsection (c) below. (3) Any person adjudicated by a
court of another state or territory of the United States to be the father of a child born
out of wedlock, where a certified copy of the court order has been filed with the registry
by the person or any other person. (4) Any person who has filed with the registry an instrument
acknowledging paternity pursuant to Sections 26-11-1 to 26-11-3,...
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8-33-2
Section 8-33-2 Definitions. As used in this chapter, the following words shall have the following
meanings: (1) ADMINISTRATOR. A third party other than the warrantor who is designated by the
warrantor to be responsible for the administration of vehicle protection product warranties.
(2) COMMISSIONER. The Commissioner of the Department of Insurance. (3) DEPARTMENT. The Department
of Insurance. (4) INCIDENTAL COSTS. Expenses specified in the warranty incurred by the warranty
holder related to the failure of the vehicle protection product to perform as provided in
the warranty. Incidental costs may include, without limitation, insurance policy deductibles,
rental vehicle charges, the difference between the actual value of the stolen vehicle at the
time of theft and the cost of a replacement vehicle, sales taxes, registration fees, transaction
fees, and mechanical inspection fees. (5) SERVICE CONTRACT. A contract or agreement as defined
in subdivision (13) of Section 8-32-2. (6) VEHICLE...
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8-33-4
Section 8-33-4 Registration requirements. (a) A person may not operate as a warrantor or represent
to the public that the person is a warrantor unless the person is registered with the department
on a form prescribed by the commissioner. (b) Warrantor registration records shall be filed
annually and shall be updated within 30 days of any change. The registration records shall
contain the following information: (1) The warrantor's name, any fictitious names under which
the warrantor does business in the state, principal office address, and telephone number.
(2) The name and address of the warrantor's agent for service of process in the state if other
than the warrantor. (3) The names of the warrantor's executive officer or officers directly
responsible for the warrantor's vehicle protection product business. (4) The name, address,
and telephone number of any administrators designated by the warrantor to be responsible for
the administration of vehicle protection product warranties in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-4.htm - 2K - Match Info - Similar pages
10A-30-2.05
Section 10A-30-2.05 Issuance or transfer of shares of a close corporation in breach of qualifying
conditions; applicable to corporations formed as close corporations or electing close corporation
status prior to January 1, 1995. (a) If shares of a close corporation are issued or transferred
to any person who is not entitled under any provision of the certificate of formation permitted
by Section 10A-30-2.02 to be a holder of record of shares of the corporation, and if the certificate
for shares conspicuously notes the qualifications of the persons entitled to be holders of
record thereof, such person is conclusively presumed to have notice of the fact of his or
her ineligibility to be a shareholder. (b) If a certificate for shares of any close corporation
conspicuously notes the fact of a restriction on transfer of shares of the corporation and
the restriction is one which is permitted by the Alabama Business Corporation Law, the transferee
of the shares is conclusively presumed to...
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10A-8A-3.02
Section 10A-8A-3.02 Transfer of partnership property. (a) Partnership property may be transferred
as follows: (1) Subject to the effect of a statement of authority under Section 10A-8A-3.03,
partnership property held in the name of the partnership may be transferred by an instrument
of transfer executed by a partner in the partnership name. (2) Partnership property held in
the name of one or more partners with an indication in the instrument transferring the property
to them of their capacity as partners or of the existence of a partnership, but without an
indication of the name of the partnership, may be transferred by an instrument of transfer
executed by the persons in whose name the property is held. (3) Partnership property held
in the name of one or more persons other than the partnership, without an indication in the
instrument transferring the property to them of their capacity as partners or of the existence
of a partnership, may be transferred by an instrument of transfer...
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