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7-4-104
Section 7-4-104 Definitions and index of definitions. (a) In this article, unless the context
otherwise requires: (1) "Account" means any deposit or credit account with a bank,
including a demand, time, savings, passbook, share draft, or like account, other than an account
evidenced by a certificate of deposit; (2) "Afternoon" means the period of a day
between noon and midnight; (3) "Banking day" means the part of a day on which a
bank is open to the public for carrying on substantially all of its banking functions; (4)
"Clearing house" means an association of banks or other payors regularly clearing
items; (5) "Customer" means a person having an account with a bank or for whom a
bank has agreed to collect items, including a bank that maintains an account at another bank;
(6) "Documentary draft" means a draft to be presented for acceptance or payment
if specified documents, certificated securities (Section 7-8-102) or instructions for uncertificated
securities (Section 7-8-308), or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-4-104.htm - 4K - Match Info - Similar pages
32-7-7
Section 32-7-7 Further exceptions to requirement of security. The requirements as to security
and suspension in Section 32-7-6 shall not apply to any of the following persons: (1) The
operator or the owner of a motor vehicle involved in an accident wherein no injury or damage
was caused to the person or property of anyone other than the operator or owner. (2) The operator
or the owner of a motor vehicle legally parked at the time of the accident. (3) The owner
of a motor vehicle if at the time of the accident the vehicle was being operated without the
permission of the owner, express or implied, or was parked by a person who had been operating
the motor vehicle without the permission. (4) If, prior to the date that the director would
otherwise suspend license and registration or nonresident's operating privilege under Section
32-7-6, there shall be filed with the director evidence satisfactory to him or her that the
person who would otherwise have to file security has been released...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-7.htm - 1K - Match Info - Similar pages
45-37-140.12
Section 45-37-140.12 Service charge ordinances; election. (a) Subject to the conditions stated
below in this section, the board of trustees shall be authorized to adopt service charge ordinances
levying service charges provided for in Section 45-37-140.11. No service charge ordinance
shall take effect and be enforced until the substance of the ordinance has been published
in some newspaper of general circulation in the district and at least eight days have elapsed
after such newspaper publication and at least eight days have also elapsed after such ordinance
in full was posted in each fire station in the district, or at some other public place in
the district if there is no such fire station. It is further provided that no such ordinance
shall become effective unless it is approved at an election held in response to the petition
hereinbelow provided for, or unless the time prescribed for filing such petition expires without
the petition being filed. (b) Upon the petition, prescribed in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-140.12.htm - 3K - Match Info - Similar pages
7-3-104
Section 7-3-104 Negotiable instrument. (a) Except as provided in subsections (c) and (d), "negotiable
instrument" means an unconditional promise or order to pay a fixed amount of money, with
or without interest or other charges described in the promise or order, if it: (1) Is payable
to bearer or to order at the time it is issued or first comes into possession of a holder;
(2) Is payable on demand or at a definite time; and (3) Does not state any other undertaking
or instruction by the person promising or ordering payment to do any act in addition to the
payment of money, but the promise or order may contain (i) an undertaking or power to give,
maintain, or protect collateral to secure payment, (ii) an authorization or power to the holder
to confess judgment or realize on or dispose of collateral, or (iii) a waiver of the benefit
of any law intended for the advantage or protection of an obligor. (b) "Instrument"
means a negotiable instrument. (c) An order that meets all of the...
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7-3-302
Section 7-3-302 Holder in due course. (a) Subject to subsection (c) and Section 7-3-106(d),
"holder in due course" means the holder of an instrument if: (1) The instrument
when issued or negotiated to the holder does not bear such apparent evidence of forgery or
alteration or is not otherwise so irregular or incomplete as to call into question its authenticity;
and (2) The holder took the instrument (i) for value, (ii) in good faith, (iii) without notice
that the instrument is overdue or has been dishonored or that there is an uncured default
with respect to payment of another instrument issued as part of the same series, (iv) without
notice that the instrument contains an unauthorized signature or has been altered, (v) without
notice of any claim to the instrument described in Section 7-3-306, and (vi) without notice
that any party has a defense or claim in recoupment described in Section 7-3-305(a). (b) Notice
of discharge of a party, other than discharge in an insolvency proceeding,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-3-302.htm - 3K - Match Info - Similar pages
7-7-202
Section 7-7-202 Form of warehouse receipt; effect of omission. (a) A warehouse receipt need
not be in any particular form. (b) Unless a warehouse receipt provides for each of the following,
the warehouse is liable for damages caused to a person injured by its omission: (1) A statement
of the location of the warehouse facility where the goods are stored; (2) The date of issue
of the receipt; (3) The unique identification code of the receipt; (4) A statement whether
the goods received will be delivered to the bearer, to a named person, or to a named person
or its order; (5) The rate of storage and handling charges, unless goods are stored under
a field warehousing arrangement, in which case a statement of that fact is sufficient on a
nonnegotiable receipt; (6) A description of the goods or the packages containing them; (7)
The signature of the warehouse or its agent; (8) If the receipt is issued for goods that the
warehouse owns, either solely, jointly, or in common with others, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-7-202.htm - 2K - Match Info - Similar pages
10A-2-6.27
Section 10A-2-6.27 Restriction on transfer of shares and other securities. REPEALED IN THE
2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) The articles of incorporation, bylaws, an agreement among shareholders,
or an agreement between shareholders and the corporation may impose restrictions on the transfer
or registration of transfer of shares of corporation. A restriction does not affect shares
issued before the restriction was adopted unless the holders of the shares are parties to
the restriction agreement or voted in favor of the restriction. (b) A restriction on the transfer
or registration of transfer of shares is valid and enforceable against the holder or a transferee
of the holder including an executor, administrator, trustee, guardian, conservator or other
fiduciary entrusted with like responsibility for the person or estate of the holder, provided
the restriction is authorized by this section and, as provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.27.htm - 3K - Match Info - Similar pages
37-9-24
Section 37-9-24 Broker's licenses; bond or other security required of brokers; powers of commission
as to brokers' accounts, reports and records. (a) No person shall, for compensation, sell
or offer for sale transportation subject to this chapter or shall make any contract, agreement
or arrangement to provide, procure, furnish or arrange for such transportation or shall hold
himself or itself out by advertisement, solicitation or otherwise as one who sells, provides,
procures, contracts or arranges for such transportation, unless such person holds a brokers
license issued by the commission to engage in such transaction; provided, that no such person
shall engage in transportation subject to this chapter unless he or it holds a certificate
or permit as provided in this chapter. In the execution of any contract, agreement or arrangement
to sell, provide, procure, furnish or arrange for such transportation, it shall be unlawful
for such person to employ any air carrier who, or which, is...
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40-29-30
Section 40-29-30 Legal effect of certificate of sale of personal property and deed of real
property. (a) Certificate of sale of property other than real property. In all cases of a
sale of property (other than real property) pursuant to Section 40-29-26, the certificate
of such sale: (1) AS EVIDENCE. Shall be prima facie evidence of the right of the officer to
make such sale, and conclusive evidence of the regularity of his proceedings in making the
sale; and (2) AS CONVEYANCES. Shall transfer to the purchaser all right, title, and interest
of the party delinquent in and to the property sold; and (3) AS AUTHORITY FOR TRANSFER OF
CORPORATE STOCK. If such property consists of stocks, shall be notice when received, to any
corporation, company, or association of such transfer, and shall be authority to such corporation,
company, or association to record the transfer on its books and records in the same manner
as if the stocks were transferred or assigned by the party holding the same, in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-30.htm - 3K - Match Info - Similar pages
8-35-2
Section 8-35-2 Security freeze on credit report. (a) A consumer may place a security freeze
on the consumer's credit report by making a request in writing by certified mail to a consumer
credit reporting agency. No later than August 31, 2012, a consumer credit reporting agency
shall make available to consumers an Internet based method of requesting a security freeze
and a toll-free telephone number for consumers to use to place a security freeze, temporarily
lift a security freeze, or completely remove a security freeze. A security freeze shall prohibit,
subject to exceptions in subsection (m), the consumer credit reporting agency from releasing
the consumer's credit report or credit score without the prior express authorization of the
consumer as provided in subsection (d) or (e). Nothing in this subsection shall prevent a
consumer credit reporting agency from advising a third party that a security freeze is in
effect with respect to the consumer's credit report. (b) A consumer credit...
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