7-8-203
Section 7-8-203 Staleness as notice of defect or defense. After an act or event, other than
a call that has been revoked, creating a right to immediate performance of the principal obligation
represented by a certificated security or setting a date on or after which the security is
to be presented or surrendered for redemption or exchange, a purchaser is charged with notice
of any defect in its issue or defense of the issuer, if the act or event: (1) requires the
payment of money, the delivery of a certificated security, the registration of transfer of
an uncertificated security, or any of them on presentation or surrender of the security certificate,
the money or security is available on the date set for payment or exchange, and the purchaser
takes the security more than one year after that date; or (2) is not covered by paragraph
(1) and the purchaser takes the security more than two years after the date set for surrender
or presentation or the date on which performance became due....
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7-9A-314
Section 7-9A-314 Perfection by control. (a) Perfection by control. A security interest in investment
property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic
documents may be perfected by control of the collateral under Section 7-7-106, 7-9A-104, 7-9A-105,
7-9A-106, or 7-9A-107. (b) Specified collateral: Time of perfection by control; continuation
of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit
rights, or electronic documents is perfected by control under Section 7-7-106, 7-9A-104, 7-9A-105,
or 7-9A-107 when the secured party obtains control and remains perfected by control only while
the secured party retains control. (c) Investment property: Time of perfection by control;
continuation of perfection. A security interest in investment property is perfected by control
under Section 7-9A-106 from the time the secured party obtains control and remains perfected
by control until: (1) the secured party...
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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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7-8-107
Section 7-8-107 Whether indorsement, instruction, or entitlement order is effective. (a) "Appropriate
person" means: (1) with respect to an indorsement, the person specified by a security
certificate or by an effective special indorsement to be entitled to the security; (2) with
respect to an instruction, the registered owner of an uncertificated security; (3) with respect
to an entitlement order, the entitlement holder; (4) if the person designated in paragraph
(1), (2), or (3) is deceased, the designated person's successor taking under other law or
the designated person's personal representative acting for the estate of the decedent; or
(5) if the person designated in paragraph (1), (2), or (3) lacks capacity, the designated
person's guardian, conservator, or other similar representative who has power under other
law to transfer the security or financial asset. (b) An indorsement, instruction, or entitlement
order is effective if: (1) it is made by the appropriate person; (2) it is...
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8-6-5
Section 8-6-5 Registration of securities - Registration by notification. (a) The following
securities may be registered by notification, whether or not they are also eligible for registration
by coordination under Section 8-6-6: (1) Any security whose issuer and any predecessors have
been in continuous operation for at least five years if: a. There has been no default during
the current fiscal year or within the three preceding fiscal years in the payment of principal,
interest, or dividends on any security of the issuer, or any predecessor, with a fixed maturity
or a fixed interest or dividend provision; and b. The issuer and any predecessors during the
past three fiscal years have had average net earnings determined in accordance with generally
accepted accounting practices which are applicable to all securities without a fixed maturity
or a fixed interest or dividend provision and which: 1. Equal at least five percent of the
amount of securities without a fixed maturity or a fixed...
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7-8-112
Section 7-8-112 Creditor's legal process. (a) The interest of a debtor in a certificated security
may be reached by a creditor only by actual seizure of the security certificate by the officer
making the attachment or levy, except as otherwise provided in subsection (d). However, a
certificated security for which the certificate has been surrendered to the issuer may be
reached by a creditor by legal process upon the issuer. (b) The interest of a debtor in an
uncertificated security may be reached by a creditor only by legal process upon the issuer
at its chief executive office in the United States, except as otherwise provided in subsection
(d). (c) The interest of a debtor in a security entitlement may be reached by a creditor only
by legal process upon the securities intermediary with whom the debtor's securities account
is maintained, except as otherwise provided in subsection (d). (d) The interest of a debtor
in a certificated security for which the certificate is in the...
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7-8-311
Section 7-8-311 (Effective Until January 1, 1997) Effect of unauthorized indorsement. Unless
the owner has ratified an unauthorized indorsement or is otherwise precluded from asserting
its ineffectiveness: (a) He may assert its ineffectiveness against the issuer or any purchaser
other than a purchaser for value and without notice of adverse claims who has in good faith
received a new, reissued or reregistered security on registration of transfer; and (b) An
issuer who registers the transfer of a security upon the unauthorized indorsement is subject
to liability for improper registration (Section 7-8-404). (Acts 1965, No. 549, p. 811.)...

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32-7-32
Section 32-7-32 Transfer of registration to defeat purpose of chapter prohibited. If an owner's
registration has been suspended hereunder, such registration shall not be transferred nor
the motor vehicle in respect of which such registration was issued registered in any other
name until the director is satisfied that such transfer of registration is proposed in good
faith and not for the purpose or with the effect of defeating the purposes of this chapter.
Nothing in this section shall in anywise affect the rights of any conditional vendor, chattel
mortgagee, or lessor of a motor vehicle registered in the name of another as owner who becomes
subject to the provisions of this section. (Acts 1951, No. 704, p. 1224, §30.)...
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8-6-148
Section 8-6-148 Transfer on death. (a) A transfer on death resulting from a registration in
beneficiary form is effective by reason of the contract regarding the registration between
the owner and the registering entity and this article and is not testamentary. (b) This article
does not limit the rights of creditors of security owners against beneficiaries and other
transferees under other laws of this state. (Acts 1997, No. 97-703, p. 1451, §9.)...
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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...
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