10A-5A-5.03
Section 10A-5A-5.03 Charging order. (a) On application to a court of competent jurisdiction
by any judgment creditor of a member or transferee, the court may charge the transferable
interest of the judgment debtor with payment of the unsatisfied amount of the judgment with
interest. To the extent so charged and after the limited liability company has been served
with the charging order, the judgment creditor has only the right to receive any distribution
or distributions to which the judgment debtor would otherwise be entitled in respect of the
transferable interest. (b) A limited liability company, after being served with a charging
order and its terms, shall be entitled to pay or deposit any distribution or distributions
to which the judgment debtor would otherwise be entitled in respect of the charged transferable
interest into the hands of the clerk of the court so issuing the charging order, and the payment
or deposit shall discharge the limited liability company and the judgment...
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10A-8A-5.03
Section 10A-8A-5.03 Rights of creditor of partner or transferee. (a) On application to a court
of competent jurisdiction by any judgment creditor of a partner or transferee, the court may
charge the transferable interest of the judgment debtor with payment of the unsatisfied amount
of the judgment with interest. To the extent so charged and after the partnership has been
served with the charging order, the judgment creditor has only the right to receive any distribution
or distributions to which the judgment debtor would otherwise be entitled in respect of the
transferable interest. (b) The partnership, after being served with a charging order and its
terms, shall be entitled to pay or deposit any distribution or distributions to which the
judgment debtor would otherwise be entitled in respect of the charged transferable interest
into the hands of the clerk of the court so issuing the charging order, and the payment or
deposit shall discharge the partnership and the judgment debtor...
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10A-9A-7.03
Section 10A-9A-7.03 Rights of creditor of partner or transferee. (a) On application to a court
of competent jurisdiction by any judgment creditor of a partner or transferee, the court may
charge the transferable interest of the judgment debtor with payment of the unsatisfied amount
of the judgment with interest. To the extent so charged and after the limited partnership
has been served with the charging order, the judgment creditor has only the right to receive
any distribution or distributions to which the judgment debtor would otherwise be entitled
in respect of the transferable interest. (b) The limited partnership, after being served with
a charging order and its terms, shall be entitled to pay or deposit any distribution or distributions
to which the judgment debtor would otherwise be entitled in respect of the charged transferable
interest into the hands of the clerk of the court so issuing the charging order, and the payment
or deposit shall discharge the limited partnership and...
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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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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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7-8-401
Section 7-8-401 Duty of issuer to register transfer. (a) If a certificated security in registered
form is presented to an issuer with a request to register transfer or an instruction is presented
to an issuer with a request to register transfer of an uncertificated security, the issuer
shall register the transfer as requested if: (1) under the terms of the security the person
seeking registration of transfer is eligible to have the security registered in its name;
(2) the indorsement or instruction is made by the appropriate person or by an agent who has
actual authority to act on behalf of the appropriate person; (3) reasonable assurance is given
that the indorsement or instruction is genuine and authorized (Section 7-8-402); (4) any applicable
law relating to the collection of taxes has been complied with; (5) the transfer does not
violate any restriction on transfer imposed by the issuer in accordance with Section 7-8-204;
(6) a demand that the issuer not register transfer has not...
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7-5-118
Section 7-5-118 Security interest of issuer or nominated person. (a) An issuer or nominated
person has a security interest in a document presented under a letter of credit to the extent
that the issuer or nominated person honors or gives value for the presentation. (b) So long
as and to the extent that an issuer or nominated person has not been reimbursed or has not
otherwise recovered the value given with respect to a security interest in a document under
subsection (a), the security interest continues and is subject to Article 9A, but: (1) a security
agreement is not necessary to make the security interest enforceable under Section 7-9A-203(b)(3);
(2) if the document is presented in a medium other than a written or other tangible medium,
the security interest is perfected; and (3) if the document is presented in a written or other
tangible medium and is not a certificated security, chattel paper, a document of title, an
instrument, or a letter of credit, the security interest is...
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7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests to
which filing provisions of this article do not apply. THIS SECTION WAS REPEALED IN THE 2001
REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement must be
filed to perfect all security interests except the following: (a) A security interest in collateral
in possession of the secured party under Section 7-9-305; (b) A security interest temporarily
perfected in instruments, certificated securities, or documents without delivery under Section
7-9-304 or in proceeds for a 20-day period under Section 7-9-306; (c) A security interest
created by an assignment of a beneficial interest in a trust or a decedent's estate; (d) A
purchase money security interest in consumer goods; but filing is required for a motor vehicle
required to be registered; and fixture filing is required for priority over conflicting interests
in fixtures to the extent provided in Section 7-9-313; (e) An...
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7-9A-310
Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security
interests and agricultural liens to which filing provisions do not apply. (a) General rule:
Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b),
a financing statement must be filed to perfect all security interests and agricultural liens.
(b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary
to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f),
or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject
to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession
of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities,
documents, goods, or instruments which is perfected without filing, control, or possession
under Section 7-9A-312(e), (f), or (g); (6) in collateral...
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7-8-106
Section 7-8-106 Control. (a) A purchaser has "control" of a certificated security
in bearer form if the certificated security is delivered to the purchaser. (b) A purchaser
has "control" of a certificated security in registered form if the certificated
security is delivered to the purchaser, and: (1) the certificate is indorsed to the purchaser
or in blank by an effective indorsement; or (2) the certificate is registered in the name
of the purchaser, upon original issue or registration of transfer by the issuer. (c) A purchaser
has "control" of an uncertificated security if: (1) the uncertificated security
is delivered to the purchaser; or (2) the issuer has agreed that it will comply with instructions
originated by the purchaser without further consent by the registered owner. (d) A purchaser
has "control" of a security entitlement if: (1) the purchaser becomes the entitlement
holder; (2) the securities intermediary has agreed that it will comply with entitlement orders
originated by...
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