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7-9A-328
Section 7-9A-328 Priority of security interests in investment property. The following rules
govern priority among conflicting security interests in the same investment property: (1)
A security interest held by a secured party having control of investment property under Section
7-9A-106 has priority over a security interest held by a secured party that does not have
control of the investment property. (2) Except as otherwise provided in paragraphs (3) and
(4), conflicting security interests held by secured parties each of which has control under
Section 7-9A-106 rank according to priority in time of: (A) if the collateral is a security,
obtaining control; (B) if the collateral is a security entitlement carried in a securities
account and: (i) if the secured party obtained control under Section 7-8-106(d)(1), the secured
party's becoming the person for which the securities account is maintained; (ii) if the secured
party obtained control under Section 7-8-106(d)(2), the securities...
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7-9A-305
Section 7-9A-305 Law governing perfection and priority of security interests in investment
property. (a) Governing law: General rules. Except as otherwise provided in subsection (c),
the following rules apply: (1) While a security certificate is located in a jurisdiction,
the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection,
and the priority of a security interest in the certificated security represented thereby.
(2) The local law of the issuer's jurisdiction as specified in Section 7-8-110(d) governs
perfection, the effect of perfection or nonperfection, and the priority of a security interest
in an uncertificated security. (3) The local law of the securities intermediary's jurisdiction
as specified in Section 7-8-110(e) governs perfection, the effect of perfection or nonperfection,
and the priority of a security interest in a security entitlement or securities account. (4)
The local law of the commodity intermediary's jurisdiction governs...
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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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8-6-8
Section 8-6-8 Registration of securities - Registration statement; conditions precedent; bond;
notice of action; fees; quarterly reports and financial statements; discharge from supervision.
(a) A registration statement on securities may be filed by the issuer, any other person on
whose behalf the offering is to be made, or a registered dealer. Any document filed under
this article within five years preceding the filing of a registration statement may be incorporated
by reference in the registration statement to the extent that the document is currently accurate.
The commission may permit, by rule or otherwise, the omission of any item of information or
document from any registration statement. (b) The Securities Commission may require as a condition
of registration by qualification or coordination that: (1) proceeds from the sale of the registered
security be impounded until the issuer receives a specified amount, or (2) any security issued
within the past three years, or to be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-8.htm - 8K - Match Info - Similar pages
7-8-304
Section 7-8-304 Indorsement. (a) An indorsement may be in blank or special. An indorsement
in blank includes an indorsement to bearer. A special indorsement specifies to whom a security
is to be transferred or who has power to transfer it. A holder may convert a blank indorsement
to a special indorsement. (b) An indorsement purporting to be only of part of a security certificate
representing units intended by the issuer to be separately transferable is effective to the
extent of the indorsement. (c) An indorsement, whether special or in blank, does not constitute
a transfer until delivery of the certificate on which it appears or, if the indorsement is
on a separate document, until delivery of both the document and the certificate. (d) If a
security certificate in registered form has been delivered to a purchaser without a necessary
indorsement, the purchaser may become a protected purchaser only when the indorsement is supplied.
However, against a transferor, a transfer is complete...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-304.htm - 1K - Match Info - Similar pages
27-29-3
Section 27-29-3 Acquisition of control of, or merger with, domestic insurers. (a)(1) No person
other than the issuer shall make a tender offer for or a request or invitation for tenders
of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in
the open market any voting security of a domestic insurer if, after the consummation thereof,
such person would, directly or indirectly, or by conversion or by exercise of any right to
acquire, be in control of such insurer, and no person shall enter into an agreement to merge
with or otherwise to acquire control of a domestic insurer, or any person controlling a domestic
insurer unless, at the time any such offer, request, or invitation is made or any such agreement
is entered into, or prior to the acquisition of such securities if no offer or agreement is
involved such person has filed with the commissioner and has sent to such insurer a statement
containing the information required by this section and such...
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7-8-108
Section 7-8-108 Warranties in direct holding. (a) A person who transfers a certificated security
to a purchaser for value warrants to the purchaser, and an indorser, if the transfer is by
indorsement, warrants to any subsequent purchaser, that: (1) the certificate is genuine and
has not been materially altered; (2) the transferor or indorser does not know of any fact
that might impair the validity of the security; (3) there is no adverse claim to the security;
(4) the transfer does not violate any restriction on transfer; (5) if the transfer is by indorsement,
the indorsement is made by an appropriate person, or if the indorsement is by an agent, the
agent has actual authority to act on behalf of the appropriate person; and (6) the transfer
is otherwise effective and rightful. (b) A person who originates an instruction for registration
of transfer of an uncertificated security to a purchaser for value warrants to the purchaser
that: (1) the instruction is made by an appropriate person,...
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7-8-320
Section 7-8-320 (Effective Until January 1, 1997) Transfer or pledge within a central depository
system. (1) If a security: (a) Is in the custody of a clearing corporation or of a custodian
bank or a nominee of either subject to the instructions of the clearing corporation; and (b)
Is in bearer form or indorsed in blank by an appropriate person or registered in the name
of the clearing corporation or custodian bank or a nominee of either; and (c) Is shown on
the account of a transferor or pledgor on the books of the clearing corporation; Then, in
addition to other methods, a transfer or pledge of the security or any interest therein may
be effected by the making of appropriate entries on the books of the clearing corporation
reducing the account of the transferor or pledgor and increasing the account of the transferee
or pledgee by the amount of the obligation or the number of shares or rights transferred or
pledged. (2) Under this section entries may be with respect to like securities...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-320.htm - 2K - Match Info - Similar pages
8-6-10
Section 8-6-10 Registration of securities - Exempt securities. Sections 8-6-4 through 8-6-9
shall not apply to any of the following securities: (1) Any security, including a revenue
obligation, issued or guaranteed by the United States, any state, any political subdivision
of a state, any agency, corporate, or other instrumentality of one or more of the foregoing;
or any certificate of deposit for any of the foregoing. (2) Any security issued or guaranteed
by Canada, any Canadian province, any political subdivision of any province, any agency, corporate,
or other instrumentality of one or more of the foregoing or any other foreign government with
which the United States currently maintains diplomatic relations if the security is recognized
as a valid obligation by the issuer or guarantor. (3) Any security issued by and representing
an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United
States or any bank, savings institution, or trust company...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-10.htm - 7K - Match Info - Similar pages
40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge of the...
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