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7-9A-331
Section 7-9A-331 Priority of rights of purchasers of instruments, documents, and securities
under other articles; priority of interests in financial assets and security entitlements
under Article 8. (a) Rights under Articles 3, 7, and 8 not limited. This article does not
limit the rights of a holder in due course of a negotiable instrument, a holder to which a
negotiable document of title has been duly negotiated, or a protected purchaser of a security.
These holders or purchasers take priority over an earlier security interest, even if perfected,
to the extent provided in Articles 3, 7, and 8. (b) Protection under Article 8. This article
does not limit the rights of or impose liability on a person to the extent that the person
is protected against the assertion of a claim under Article 8. (c) Filing not notice. Filing
under this article does not constitute notice of a claim or defense to the holders, or purchasers,
or persons described in subsections (a) and (b). (Act 2001-481, p....
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7-8-509
Section 7-8-509 Specification of duties of securities intermediary by other statute or regulation;
manner of performance of duties of securities intermediary and exercise of rights of entitlement
holder. (a) If the substance of a duty imposed upon a securities intermediary by Sections
7-8-504 through 7-8-508 is the subject of other statute, regulation, or rule, compliance with
that statute, regulation, or rule satisfies the duty. (b) To the extent that specific standards
for the performance of the duties of a securities intermediary or the exercise of the rights
of an entitlement holder are not specified by other statute, regulation, or rule or by agreement
between the securities intermediary and entitlement holder, the securities intermediary shall
perform its duties and the entitlement holder shall exercise its rights in a commercially
reasonable manner. (c) The obligation of a securities intermediary to perform the duties imposed
by Sections 7-8-504 through 7-8-508 is subject to:...
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7-9A-309
Section 7-9A-309 Security interest perfected upon attachment. The following security interests
are perfected when they attach: (1) a purchase-money security interest in consumer goods,
except as otherwise provided in Section 7-9A-311(b) with respect to consumer goods that are
subject to a statute or treaty described in Section 7-9A-311(a); (2) an assignment of accounts
or payment intangibles which does not by itself or in conjunction with other assignments to
the same assignee transfer a significant part of the assignor's outstanding accounts or payment
intangibles; (3) a sale of a payment intangible; (4) a sale of a promissory note; (5) a security
interest created by the assignment of a health-care-insurance receivable to the provider of
the health-care goods or services; (6) a security interest arising under Section 7-2-401,
7-2-505, 7-2-711(3), or 7-2A-508(5), until the debtor obtains possession of the collateral;
(7) a security interest of a collecting bank arising under Section...
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7-8-103
Section 7-8-103 Rules for determining whether certain obligations and interests are securities
or financial assets. (a) A share or similar equity interest issued by a corporation, business
trust, joint stock company, or similar entity is a security. (b) An "investment company
security" is a security. "Investment company security" means a share or similar
equity interest issued by an entity that is registered as an investment company under the
federal investment company laws, an interest in a unit investment trust that is so registered,
or a face-amount certificate issued by a face-amount certificate company that is so registered.
Investment company security does not include an insurance policy or endowment policy or annuity
contract issued by an insurance company. (c) An interest in a partnership or limited liability
company is not a security unless it is dealt in or traded on securities exchanges or in securities
markets, its terms expressly provide that it is a security governed by...
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7-8-105
Section 7-8-105 Notice of adverse claim. (a) A person has notice of an adverse claim if: (1)
the person knows of the adverse claim; (2) the person is aware of facts sufficient to indicate
that there is a significant probability that the adverse claim exists and deliberately avoids
information that would establish the existence of the adverse claim; or (3) the person has
a duty, imposed by statute or regulation, to investigate whether an adverse claim exists,
and the investigation so required would establish the existence of the adverse claim. (b)
Having knowledge that a financial asset or interest therein is or has been transferred by
a representative imposes no duty of inquiry into the rightfulness of a transaction and is
not notice of an adverse claim. However, a person who knows that a representative has transferred
a financial asset or interest therein in a transaction that is, or whose proceeds are being
used, for the individual benefit of the representative or otherwise in breach...
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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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7-2A-310
Section 7-2A-310 Lessor's and lessee's rights when goods become accessions. (1) Goods are "accessions"
when they are installed in or affixed to other goods. (2) The interest of a lessor or a lessee
under a lease contract entered into before the goods became accessions is superior to all
interests in the whole except as stated in subsection (4). (3) The interest of a lessor or
a lessee under a lease contract entered into at the time or after the goods became accessions
is superior to all subsequently acquired interests in the whole except as stated in subsection
(4) but is subordinate to interests in the whole existing at the time the lease contract was
made unless the holders of such interests in the whole have in writing consented to the lease
or disclaimed an interest in the goods as part of the whole. (4) The interest of a lessor
or a lessee under a lease contract described in subsection (2) or (3) is subordinate to the
interest of (a) a buyer in the ordinary course of business or a...
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24-1-33
Section 24-1-33 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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24-1-72
Section 24-1-72 Powers of authority to secure payment of bonds, etc. In connection with the
issuance of bonds or the incurring of any obligation under a lease and in order to secure
the payment of such bonds or obligations, the authority shall have power: (1) To pledge by
resolution, trust indenture, mortgage, subject to the limitations hereinafter imposed, or
other contract all or any part of its rents, fees, or revenues. (2) To covenant against mortgaging
all or any part of its property, real or personal, then owned or thereafter acquired, or against
permitting or suffering any lien thereon. (3) To covenant with respect to limitations on its
right to sell, lease, or otherwise dispose of any housing project, or any part thereof, or
with respect to limitations on its right to undertake additional housing projects. (4) To
covenant against pledging all or any part of its rents, fees, and revenues to which its right
then exists, or the right to which may thereafter come into existence, or...
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8-9A-8
Section 8-9A-8 Defenses, liability, and protection of transferee. (a) A transfer is not voidable
under Section 8-9A-4(a) against a person who took in good faith and for a reasonably equivalent
value or against any subsequent transferee or obligee who took in good faith. (b) Except as
otherwise provided in this section, to the extent a transfer is voidable in an action by a
creditor under Section 8-9A-7(a)(1), the creditor may recover judgment for the value of the
asset transferred, as adjusted under subsection (c), or the amount necessary to satisfy the
creditor's claim, whichever is less, or judgment for conveyance of the asset transferred.
The judgment may be entered against: (1) The first transferee of the asset or the person for
whose benefit the transfer was made; or (2) Any subsequent transferee other than a good faith
transferee who took for value or from any subsequent transferee. (c) If the judgment under
subsection (b) is based upon the value of the asset transferred, the...
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