7-8-303
Section 7-8-303 Protected purchaser. (a) "Protected purchaser" means a purchaser
of a certificated or uncertificated security, or of an interest therein, who: (1) gives value;
(2) does not have notice of any adverse claim to the security; and (3) obtains control of
the certificated or uncertificated security. (b) In addition to acquiring the rights of a
purchaser, a protected purchaser also acquires its interest in the security free of any adverse
claim. (Acts 1996, No. 96-742, p. 1241, §1.)...
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7-9A-316
Section 7-9A-316 Effect of change in governing law. (a) General rule: Effect on perfection
of change in governing law. A security interest perfected pursuant to the law of the jurisdiction
designated in Section 7-9A-301(1) or 7-9A-305(c) remains perfected until the earliest
of: (1) the time perfection would have ceased under the law of that jurisdiction; (2) the
expiration of four months after a change of the debtor's location to another jurisdiction;
or (3) the expiration of one year after a transfer of collateral to a person that thereby
becomes a debtor and is located in another jurisdiction. (b) Security interest perfected or
unperfected under law of new jurisdiction. If a security interest described in subsection
(a) becomes perfected under the law of the other jurisdiction before the earliest time or
event described in that subsection, it remains perfected thereafter. If the security interest
does not become perfected under the law of the other jurisdiction before the earliest...
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7-8-115
Section 7-8-115 Securities intermediary and others not liable to adverse claimant. A
securities intermediary that has transferred a financial asset pursuant to an effective entitlement
order, or a broker or other agent or bailee that has dealt with a financial asset at the direction
of its customer or principal, is not liable to a person having an adverse claim to the financial
asset, unless the securities intermediary, or broker or other agent or bailee: (1) took the
action after it had been served with an injunction, restraining order, or other legal process
enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable
opportunity to act on the injunction, restraining order, or other legal process; or (2) acted
in collusion with the wrongdoer in violating the rights of the adverse claimant; or (3) in
the case of a security certificate that has been stolen, acted with notice of the adverse
claim. (Acts 1996, No. 96-742, p. 1241, §1.)...
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7-8-313
Section 7-8-313 (Effective Until January 1, 1997) When delivery to the purchaser occurs;
purchaser's broker as holder. (1) Delivery to a purchaser occurs when: (a) He or a person
designated by him acquires possession of a security; or (b) His broker acquires possession
of a security specially indorsed to or issued in the name of the purchaser; or (c) His broker
sends him confirmation of the purchase and also by book entry or otherwise identifies a specific
security in the broker's possession as belonging to the purchaser; or (d) With respect to
an identified security to be delivered while still in the possession of a third person when
that person acknowledges that he holds for the purchaser; or (e) Appropriate entries on the
books of a clearing corporation are made under Section 7-8-320. (2) The purchaser is
the owner of a security held for him by his broker, but is not the holder except as specified
in subparagraphs (b), (c) and (e) of subsection (1). Where a security is part of a...
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7-9A-309
Section 7-9A-309 Security interest perfected upon attachment. The following security
interests are perfected when they attach: (1) a purchase-money security interest in consumer
goods, except as otherwise provided in Section 7-9A-311(b) with respect to consumer
goods that are subject to a statute or treaty described in Section 7-9A-311(a); (2)
an assignment of accounts or payment intangibles which does not by itself or in conjunction
with other assignments to the same assignee transfer a significant part of the assignor's
outstanding accounts or payment intangibles; (3) a sale of a payment intangible; (4) a sale
of a promissory note; (5) a security interest created by the assignment of a health-care-insurance
receivable to the provider of the health-care goods or services; (6) a security interest arising
under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5), until the debtor obtains
possession of the collateral; (7) a security interest of a collecting bank arising under Section...

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40-22-2
Section 40-22-2 Mortgages, deeds of trust, etc., generally. No mortgage, deed of trust,
contract of conditional sale, or other instrument of like character which is given to secure
the payment of any debt which conveys any real or personal property situated within this state
or any interest therein or any security agreement or financing statement provided for by the
Uniform Commercial Code, except a security agreement or a financing statement relating solely
to security interests in accounts, contract rights, or general intangibles, as such terms
are defined in the Uniform Commercial Code, and except for the re-recordation of corrected
mortgages, deeds, or instruments executed for the purpose of perfecting the title to real
or personal property, specifically, but not limited to, corrections of maturity dates thereof,
shall be received for record or for filing in the office of any probate judge of this state
unless the following privilege or license taxes shall have been paid upon such...
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7-2A-103
Section 7-2A-103 Definitions and index of definitions. (1) In this article unless the
context otherwise requires: (a) "Buyer in ordinary course of business" means a person
who in good faith and without knowledge that the sale to him or her is in violation of the
ownership rights or security interest or leasehold interest of a third party in the goods,
buys in ordinary course from a person in the business of selling goods of that kind but does
not include a pawnbroker. "Buying" may be for cash or by exchange of other property
or on secured or unsecured credit and includes receiving goods or documents of title under
a pre-existing contract for sale but does not include a transfer in bulk or as security for
or in total or partial satisfaction of a money debt. (b) "Cancellation" occurs when
either party puts an end to the lease contract for default by the other party. (c) "Commercial
unit" means such a unit of goods as by commercial usage is a single whole for purposes
of lease and...
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7-9A-323
Section 7-9A-323 Future advances. (a) When priority based on time of advance. Except
as otherwise provided in subsection (c), for purposes of determining the priority of a perfected
security interest under Section 7-9A-322(a)(1), perfection of the security interest
dates from the time an advance is made to the extent that the security interest secures an
advance that: (1) is made while the security interest is perfected only: (A) under Section
7-9A-309 when it attaches; or (B) temporarily under Section 7-9A-312(e), (f), or (g);
and (2) is not made pursuant to a commitment entered into before or while the security interest
is perfected by a method other than under Section 7-9A-309 or 7-9A-312(e), (f), or
(g). (b) Lien creditor. Except as otherwise provided in subsection (c), a security interest
is subordinate to the rights of a person that becomes a lien creditor to the extent that the
security interest secures an advance made more than 45 days after the person becomes a lien
creditor...
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7-8-507
Section 7-8-507 Duty of securities intermediary to comply with entitlement order. (a)
A securities intermediary shall comply with an entitlement order if the entitlement order
is originated by the appropriate person, the securities intermediary has had reasonable opportunity
to assure itself that the entitlement order is genuine and authorized, and the securities
intermediary has had reasonable opportunity to comply with the entitlement order. A securities
intermediary satisfies the duty if: (1) the securities intermediary acts with respect to the
duty as agreed upon by the entitlement holder and the securities intermediary; or (2) in the
absence of agreement, the securities intermediary exercises due care in accordance with reasonable
commercial standards to comply with the entitlement order. (b) If a securities intermediary
transfers a financial asset pursuant to an ineffective entitlement order, the securities intermediary
shall reestablish a security entitlement in favor of the...
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40-10-120
Section 40-10-120 When and by whom land may be redeemed. (a) Real estate which hereafter
may be sold for taxes and purchased by the state may be redeemed at any time before the title
passes out of the state or, if purchased by any other purchaser, may be redeemed at any time
within three years from the date of the sale by the owner, his or her heirs, or personal representatives,
or by any mortgagee or purchaser of such lands, or any part thereof, or by any person having
an interest therein, or in any part thereof, legal or equitable, in severalty or as tenant
in common, including a judgment creditor or other creditor having a lien thereon, or on any
part thereof; and an infant or insane person entitled to redeem at any time before the expiration
of three years from the sale may redeem at any time within one year after the removal of the
disability; and such redemption may be of any part of the lands so sold, which includes the
whole of the interest of the redemptioner. If the mortgage...
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