|
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
27-61-1
functions. 5. CORPORATE RECORDS OF THE COMMISSION The Commission shall maintain its corporate
books and records in accordance with the Bylaws. 6. QUALIFIED IMMUNITY, DEFENSE, AND INDEMNIFICATION
a. The Members, officers, executive director, employees, and representatives of the Commission,
the Executive Committee, and any other Committee of the Commission shall be immune from suit
and liability, either personally or in their official capacity, for any claim for damage to
or loss of property or personal injury or other civil liability caused by or
arising out of any actual or alleged act, error, or omission that occurred, or that the person
against whom the claim is made had a reasonable basis for believing occurred within the scope
of Commission employment, duties, or responsibilities; provided that nothing in this paragraph
shall be construed to protect any such person from suit and/or liability for any damage, loss,
injury, or liability caused by the intentional or willful or wanton...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
7-9A-508
Section 7-9A-508 Effectiveness of financing statement if new debtor becomes bound by security
agreement. (a) Financing statement naming original debtor. Except as otherwise provided in
this section, a filed financing statement naming an original debtor is effective to perfect
a security interest in collateral in which a new debtor has or acquires rights to the extent
that the financing statement would have been effective had the original debtor acquired rights
in the collateral. (b) Financing statement becoming seriously misleading. If the difference
between the name of the original debtor and that of the new debtor causes a filed financing
statement that is effective under subsection (a) to be seriously misleading under Section
7-9A-506: (1) the financing statement is effective to perfect a security interest in collateral
acquired by the new debtor before, and within four months after, the new debtor becomes bound
under Section 7-9A-203(d); and (2) the financing statement is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-508.htm - 1K - Match Info - Similar pages
7-9A-206
Section 7-9A-206 Security interest arising in purchase or delivery of financial asset. (a)
Security interest when person buys through securities intermediary. A security interest in
favor of a securities intermediary attaches to a person's security entitlement if: (1) the
person buys a financial asset through the securities intermediary in a transaction in which
the person is obligated to pay the purchase price to the securities intermediary at the time
of the purchase; and (2) the securities intermediary credits the financial asset to the buyer's
securities account before the buyer pays the securities intermediary. (b) Security interest
secures obligation to pay for financial asset. The security interest described in subsection
(a) secures the person's obligation to pay for the financial asset. (c) Security interest
in payment against delivery transaction. A security interest in favor of a person that delivers
a certificated security or other financial asset represented by a writing...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-206.htm - 1K - Match Info - Similar pages
7-9A-315
Section 7-9A-315 Secured party's rights on disposition of collateral and in proceeds. (a) Disposition
of collateral: Continuation of security interest or agricultural lien; proceeds. Except as
otherwise provided in this article and in Section 7-2-403(2): (1) a security interest or agricultural
lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition
thereof unless the secured party authorized the disposition free of the security interest
or agricultural lien; and (2) a security interest attaches to any identifiable proceeds of
collateral. (b) When commingled proceeds identifiable. Proceeds that are commingled with other
property are identifiable proceeds: (1) if the proceeds are goods, to the extent provided
by Section 7-9A-336; and (2) if the proceeds are not goods, to the extent that the secured
party identifies the proceeds by a method of tracing, including application of equitable principles,
that is permitted under law other than this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-315.htm - 2K - Match Info - Similar pages
7-9A-313
Section 7-9A-313 When possession by or delivery to secured party perfects security interest
without filing. (a) Perfection by possession or delivery. Except as otherwise provided in
subsection (b), a secured party may perfect a security interest in tangible negotiable documents,
goods, instruments, money, or tangible chattel paper by taking possession of the collateral.
A secured party may perfect a security interest in certificated securities by taking delivery
of the certificated securities under Section 7-8-301. (b) Goods covered by certificate of
title. With respect to goods covered by a certificate of title issued by this State, a secured
party may perfect a security interest in the goods by taking possession of the goods only
in the circumstances described in Section 7-9A-316(d). (c) Collateral in possession of person
other than debtor. With respect to collateral other than certificated securities and goods
covered by a document, a secured party takes possession of collateral in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-313.htm - 4K - Match Info - Similar pages
7-9A-204
Section 7-9A-204 After-acquired property; future advances. (a) After-acquired collateral. Except
as otherwise provided in subsection (b), a security agreement may create or provide for a
security interest in after-acquired collateral. (b) When after-acquired property clause not
effective. A security interest does not attach under a term constituting an after-acquired
property clause to: (1) consumer goods, other than an accession when given as additional security,
unless the debtor acquires rights in them within 10 days after the secured party gives value;
or (2) a commercial tort claim. (c) Future advances and other value. A security agreement
may provide that collateral secures, or that accounts, chattel paper, payment intangibles,
or promissory notes are sold in connection with, future advances or other value, whether or
not the advances or value are given pursuant to commitment. (Act 2001-481, p. 647, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-204.htm - 1K - Match Info - Similar pages
7-9A-335
(e) Removal of accession after default. After default, subject to Part 6, a secured party may
remove an accession from other goods if the security interest in the accession has priority
over the claims of every person having an interest in the whole. (f) Reimbursement following
removal. A secured party that removes an accession from other goods under subsection (e) shall
promptly reimburse any holder of a security interest or other lien on, or owner of, the whole
or of the other goods, other than the debtor, for the cost of repair of any physical injury
to the whole or the other goods. The secured party need not reimburse the holder or owner
for any diminution in value of the whole or the other goods caused by the absence of the accession
removed or by any necessity for replacing it. A person entitled to reimbursement may refuse
permission to remove until the secured party gives adequate assurance for the performance
of the obligation to reimburse. (Act 2001-481, p. 647, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-335.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-314.htm - 1K - Match Info - Similar pages
7-9A-620
Section 7-9A-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory
disposition of collateral. (a) Conditions to acceptance in satisfaction. Except as otherwise
provided in subsection (g), a secured party may accept collateral in full or partial satisfaction
of the obligation it secures only if: (1) the debtor consents to the acceptance under subsection
(c); (2) the secured party does not receive, within the time set forth in subsection (d),
a notification of objection to the proposal authenticated by: (A) a person to which the secured
party was required to send a proposal under Section 7-9A-621; or (B) any other person, other
than the debtor, holding an interest in the collateral subordinate to the security interest
that is the subject of the proposal; (3) if the collateral is consumer goods, the collateral
is not in the possession of the debtor when the debtor consents to the acceptance; and (4)
subsection (e) does not require the secured party to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-620.htm - 4K - Match Info - Similar pages
|