7-9A-110
Section 7-9A-110 Security interests arising under Article 2 or 2A. A security interest arising
under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5) is subject to this article. However,
until the debtor obtains possession of the goods: (1) the security interest is enforceable,
even if Section 7-9A-203(b)(3) has not been satisfied; (2) filing is not required to perfect
the security interest; (3) the rights of the secured party after default by the debtor are
governed by Article 2 or 2A; and (4) the security interest has priority over a conflicting
security interest created by the debtor. (Act 2001-481, p. 647, §1.)...
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7-9A-332
Section 7-9A-332 Transfer of money; transfer of funds from deposit account. (a) Transferee
of money. A transferee of money takes the money free of a security interest unless the transferee
acts in collusion with the debtor in violating the rights of the secured party. (b) Transferee
of funds from deposit account. A transferee of funds from a deposit account takes the funds
free of a security interest in the deposit account unless the transferee acts in collusion
with the debtor in violating the rights of the secured party. (Act 2001-481, p. 647, §1.)...

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35-10-92
Section 35-10-92 Submission of a satisfaction of a security instrument for recording. (a) A
secured creditor shall submit for recording a satisfaction of a security instrument within
30 days after the creditor receives full payment and performance of the secured obligation,
and the secured creditor has no obligation to make advances, incur obligations, or otherwise
give value under any agreement. Equity line security instruments are fully paid and performed
only if, in addition to full payment and performance, the equity line previously has been
closed pursuant to the request of the entitled person or the entitled person's authorized
agent or otherwise closed as provided by law and all secured obligations have been paid in
full. (b) Notwithstanding anything to the contrary in this article, any notification demanding
satisfaction of the security instrument must be sent to the secured creditor's address by
a method that also provides proof of receipt by the secured creditor. (c) A...
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7-2-609
Section 7-2-609 Right to adequate assurance of performance. (1) A contract for sale imposes
an obligation on each party that the other's expectation of receiving due performance will
not be impaired. When reasonable grounds for insecurity arise with respect to the performance
of either party the other may in writing demand adequate assurance of due performance and
until he receives such assurance may if commercially reasonable suspend any performance for
which he has not already received the agreed return. (2) Between merchants the reasonableness
of grounds for insecurity and the adequacy of any assurance offered shall be determined according
to commercial standards. (3) Acceptance of any improper delivery or payment does not prejudice
the aggrieved party's right to demand adequate assurance of future performance. (4) After
receipt of a justified demand, failure to provide within a reasonable time not exceeding 30
days such assurance of due performance as is adequate under the...
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7-9A-401
Section 7-9A-401 Alienability of debtor's rights. (a) Other law governs alienability; exceptions.
Except as otherwise provided in subsection (b) and Sections 7-9A-406, 7-9A-407, 7-9A-408,
and 7-9A-409, whether a debtor's rights in collateral may be voluntarily or involuntarily
transferred is governed by law other than this article. (b) Agreement does not prevent transfer.
An agreement between the debtor and secured party which prohibits a transfer of the debtor's
rights in collateral or makes the transfer a default does not prevent the transfer from taking
effect. (Act 2001-481, p. 647, §1.)...
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5-19-19
Section 5-19-19 Liabilities of creditor making excess finance charge; failure to obtain license;
damages for deliberate violation or reckless disregard; written notice of violations; oral
statements not admissible; fiduciary duty not created. (a)(1)(i) Any creditor charging a finance
charge in excess of the amount authorized herein, except as specified in subdivision (2),
shall forfeit debtor's actual economic damages not to exceed the finance charge, and shall
refund to the debtor such amount of the actual economic damages, which may be done by reducing
the amount of the debtor's obligation. If the debtor is entitled to a refund and the creditor
refuses to refund within a reasonable time, not to exceed 60 days, after written demand, including
the filing of a legal action, the debtor shall recover a penalty of five times the amount
of the actual economic damages not to exceed the finance charge, but in any event not less
than one hundred dollars ($100). Provided, however, as to any...
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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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7-9A-205
Section 7-9A-205 Use or disposition of collateral permissible. (a) When security interest not
invalid or fraudulent. A security interest is not invalid or fraudulent against creditors
solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose
of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise,
enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions;
or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the
debtor to account for proceeds or replace collateral. (b) Requirements of possession not relaxed.
This section does not relax the requirements of possession if attachment, perfection, or enforcement
of a security interest depends upon possession of the collateral by the secured party. (Act
2001-481, p. 647, §1.)...
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35-10-23
Section 35-10-23 Partial payments - Notices or demands to enter partial payments or satisfaction.
All notices or demands to enter partial payments or satisfaction of balance of debt secured
as is provided in section 35-10-21 shall be in writing and signed by the party or parties
who are entitled to have the entries of record made, or by their personal representative,
or by their agents duly authorized in writing to give such notices or make such demand; and
the notice or demand shall be served in person upon the owner or holder of such lien or upon
his agent who is authorized to receive payment of such debt, or any part secured by the lien,
or by mailing by registered or certified mail with request for return receipt, a copy of such
written demand or notice to such owner or holder of the lien or to any agent of his who would
be authorized to receive such payments of the debts or demands so secured by the recorded
lien. This letter must be addressed to the usual known address of such...
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7-9A-109
Section 7-9A-109 Scope. (a) General scope of article. Except as otherwise provided in subsections
(c) and (d), this article applies to: (1) a transaction, regardless of its form, that creates
a security interest in personal property or fixtures by contract; (2) an agricultural lien;
(3) a sale of accounts, chattel paper, payment intangibles, or promissory notes; (4) a consignment;
(5) a security interest arising under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5),
as provided in Section 7-9A-110; and (6) a security interest arising under Section 7-4-210
or 7-5-118. (b) Security interest in secured obligation. The application of this article to
a security interest in a secured obligation is not affected by the fact that the obligation
is itself secured by a transaction or interest to which this article does not apply. (c) Extent
to which article does not apply. This article does not apply to the extent that: (1) a statute,
regulation, or treaty of the United States preempts this...
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