40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...

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10A-1-3.41
Section 10A-1-3.41 Certificated or uncertificated ownership interest. (a) Ownership interests
in a domestic entity may be certificated or uncertificated. (b) The ownership interests in
a business corporation, real estate investment trust, or professional corporation must be
certificated unless the governing documents of the entity or a resolution adopted by the governing
authority of the entity states that the ownership interests are uncertificated. If a domestic
entity changes the form of its ownership interests from certificated to uncertificated, a
certificated ownership interest subject to the change becomes an uncertificated ownership
interest only after the certificate is surrendered to the domestic entity. (c) Ownership interests
in a domestic entity, other than a domestic entity described in subsection (b), are uncertificated
unless this title or the governing documents of the domestic entity state that the interests
are certificated. (d) Unless an entity's chapter specifically...
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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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10A-1-3.45
Section 10A-1-3.45 Notice for uncertificated ownership interest. (a) Except as otherwise provided
in subsection (c) and in accordance with Article 8 of Title 7, after issuing or transferring
an uncertificated ownership interest, a domestic entity shall notify the owner of the ownership
interest in writing of any information required under this division to be stated on a certificate
representing the ownership interest. (b) Except as otherwise expressly provided by law, the
rights and obligations of the owner of an uncertificated ownership interest are the same as
the rights and obligations of the owner of a certificated ownership interest of the same class
and series. (c) A domestic entity is not required to send a notice under subsection (a) if:
(1) the required information is included in the governing documents of the entity; and (2)
the owner of the uncertificated ownership interest is provided with a copy of the governing
documents. (Act 2009-513, p. 967, §22.)...
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5-19-20
Section 5-19-20 Insurance. (a) With respect to any consumer credit transaction, the creditor
shall not require any insurance other than insurance against loss of or damage to any property
in which the creditor is given a security interest and insurance insuring the lien of the
creditor on the property which is collateral for the transaction. (b) (1) Credit life and
disability and involuntary unemployment insurance may be offered and, if accepted, may be
provided by the creditor. The charge to the debtor for the insurance shall not exceed the
premium permitted for the coverages. Insurance with respect to any credit transaction shall
not exceed the approximate amount and term of the credit. (2) This subdivision (2) applies
to all consumer credit transactions entered into on or after June 19, 1996. If the consumer
credit transaction is scheduled to be repaid in substantially equal installments which include
a portion of the amount financed, the amount of credit life insurance at any time...
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7-9A-324
Section 7-9A-324 Priority of purchase-money security interests. (a) General rule: Purchase-money
priority. Except as otherwise provided in subsection (g), a perfected purchase-money security
interest in goods other than inventory or livestock has priority over a conflicting security
interest in the same goods, and, except as otherwise provided in Section 7-9A-327, a perfected
security interest in its identifiable proceeds also has priority, if the purchase-money security
interest is perfected when the debtor receives possession of the collateral or within 20 days
thereafter. (b) Inventory purchase-money priority. Subject to subsection (c) and except as
otherwise provided in subsection (g), a perfected purchase-money security interest in inventory
has priority over a conflicting security interest in the same inventory, has priority over
a conflicting security interest in chattel paper or an instrument constituting proceeds of
the inventory and in proceeds of the chattel paper, if so...
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7-9A-325
Section 7-9A-325 Priority of security interests in transferred collateral. (a) Subordination
of security interest in transferred collateral. Except as otherwise provided in subsection
(b), a security interest created by a debtor is subordinate to a security interest in the
same collateral created by another person if: (1) the debtor acquired the collateral subject
to the security interest created by the other person; (2) the security interest created by
the other person was perfected when the debtor acquired the collateral; and (3) there is no
period thereafter when the security interest is unperfected. (b) Limitation of subsection
(a) subordination. Subsection (a) subordinates a security interest only if the security interest:
(1) otherwise would have priority solely under Section 7-9A-322(a) or 7-9A-324; or (2) arose
solely under Section 7-2-711(3) or 7-2A-508(5). (Act 2001-481, p. 647, §1.)...
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35-5A-10
Section 35-5A-10 Manner of creating custodial property and effecting transfer; form of transfer;
control of custodial property. (a) Custodial property is created and a transfer is made whenever:
(1) An uncertificated security or a certificated security in registered form is either: a.
Registered in the name of the transferor, an adult other than the transferor, or a trust company,
followed in substance by the words: "as custodian for _____ (name of minor) under the
Alabama Uniform Transfers to Minors Act"; or b. Delivered if in certificated form, or
any document necessary for the transfer of an uncertificated security is delivered, together
with any necessary endorsement to an adult other than the transferor or to a trust company
as custodian, accompanied by an instrument in substantially the form set forth in subsection
(b); (2) Money is paid or delivered to a broker or financial institution for credit to an
account in the name of the transferor, an adult other than the transferor, or...
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7-9A-311
Section 7-9A-311 Perfection of security interests in property subject to certain statutes,
regulations, and treaties. (a) Security interest subject to other law. Except as otherwise
provided in subsection (d), the filing of a financing statement is not necessary or effective
to perfect a security interest in property subject to: (1) a statute, regulation, or treaty
of the United States whose requirements for a security interest's obtaining priority over
the rights of a lien creditor with respect to the property preempt Section 7-9A-310(a); (2)
Chapter 8 or Chapter 20 of Title 32 or another statute of this state which provides for a
security interest to be indicated on a certificate of title as a condition or result of the
security interest's obtaining priority over the rights of a lien creditor with respect to
the collateral, or any central filing system created by another statute of this state governing
perfection of a security interest in collateral that is subject to this article;...
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7-1-310
Section 7-1-310 Subordinated obligations. An obligation may be issued as subordinated to performance
of another obligation of the person obligated, or a creditor may subordinate its right to
performance of an obligation by agreement with either the person obligated or another creditor
of the person obligated. Subordination does not create a security interest as against either
the common debtor or a subordinated creditor. (Act 2004-524, p. 1070, §1.)...
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