Code of Alabama

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7-9-305
Section 7-9-305 When possession by secured party perfects security interest without filing.
Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002. (Acts 1965, No. 549, p.
811; Acts 1981, No. 81-312, p. 399; Acts 1997, No. 97-702, &amp;amp;sect;2.)...
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7-9-304
Section 7-9-304 Perfection of security interest in instruments, documents, proceeds of a written
letter of credit, and goods covered by documents; perfection by permissive filing; temporary
perfection without filing or transfer of possession. Repealed by Act 2001-481, p. 647, §
4, effective January 1, 2002. (Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399;
Acts 1996, No. 96-742, p. 1241, &amp;amp;sect;2; Acts 1997, No. 97-702, &amp;amp;sect;2.)...

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40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers,
holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed
by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest,
mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements
of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall
not be perfected as against any purchaser, holder of a security interest, mechanic's lienor,
or judgment lien creditor until the date such notice is filed. (b) Protection for certain
interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20
has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as
defined in subsection (g)(4)): a. As against a purchaser of such security who at the time
of purchase did not have actual notice or knowledge 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,...
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7-8-511
Section 7-8-511 Priority among security interests and entitlement holders. (a) Except as otherwise
provided in subsections (b) and (c), if a securities intermediary does not have sufficient
interests in a particular financial asset to satisfy both its obligations to entitlement holders
who have security entitlements to that financial asset and its obligation to a creditor of
the securities intermediary who has a security interest in that financial asset, the claims
of entitlement holders, other than the creditor, have priority over the claim of the creditor.
(b) A claim of a creditor of a securities intermediary who has a security interest in a financial
asset held by a securities intermediary has priority over claims of the securities intermediary's
entitlement holders who have security entitlements with respect to that financial asset if
the creditor has control over the financial asset. (c) If a clearing corporation does not
have sufficient financial assets to satisfy both its...
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7-9A-322
Section 7-9A-322 Priorities among conflicting security interests in and agricultural liens
on same collateral. (a) General priority rules. Except as otherwise provided in this section,
priority among conflicting security interests and agricultural liens in the same collateral
is determined according to the following rules: (1) Conflicting perfected security interests
and agricultural liens rank according to priority in time of filing or perfection. Priority
dates from the earlier of the time a filing covering the collateral is first made or the security
interest or agricultural lien is first perfected, if there is no period thereafter when there
is neither filing nor perfection. (2) A perfected security interest or agricultural lien has
priority over a conflicting unperfected security interest or agricultural lien. (3) The first
security interest or agricultural lien to attach or become effective has priority if conflicting
security interests and agricultural liens are unperfected. (b)...
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7-9A-705
Section 7-9A-705 Effectiveness of action taken before January 1, 2002. (a) Pre-effective-date
action; one-year perfection period unless reperfected. If action, other than the filing of
a financing statement, is taken before January 1, 2002, and the action would have resulted
in priority of a security interest over the rights of a person that becomes a lien creditor
had the security interest become enforceable before January 1, 2002, the action is effective
to perfect a security interest that attaches under this article within one year after January
1, 2002. An attached security interest becomes unperfected one year after January 1, 2002,
unless the security interest becomes a perfected security interest under this article before
the expiration of that period. (b) Pre-effective-date filing. The filing of a financing statement
before January 1, 2002, is effective to perfect a security interest to the extent the filing
would satisfy the applicable requirements for perfection under this...
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27-8-21
Section 27-8-21 Temporary licenses. Repealed by Act 2001-702, p. 1509, &amp;sect; 16, effective
January 1, 2002. (Acts 1957, No. 598, p. 848, &amp;amp;sect;12; Acts 1971, No. 407, p.
707, &amp;amp;sect;169; Acts 1981, No. 81-862, p. 1635, &amp;amp;sect;1.)...
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27-8-22
Section 27-8-22 Nonresident agents. Repealed by Act 2001-702, p. 1509, &amp;sect; 16, effective
January 1, 2002. (Acts 1957, No. 598, p. 848, &amp;amp;sect;8; Acts 1971, No. 407, p.
707, &amp;amp;sect;170; Acts 1981, No. 81-862, p. 1635, &amp;amp;sect;1.)...
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27-8-5
Section 27-8-5 License - Application; certificate of insurer; fees; bond. Repealed by Act 2001-702,
p. 1509, &amp;sect; 16, effective January 1, 2002. (Acts 1957, No. 598, p. 848, &amp;amp;sect;4;
Acts 1971, No. 407, p. 707, &amp;amp;sect;159; Acts 1981, No. 81-862, p. 1635, &amp;amp;sect;1;
Acts 1988, 1st Ex. Sess., No. 88-875, p. 410, &amp;amp;sect;1.)...
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