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8-9A-2
Section 8-9A-2 Insolvency. (a) A debtor is insolvent if the sum of the debtor's debts is greater
than all of the debtor's assets at a fair valuation. (b) A debtor who is generally not paying
his debts as they become due is presumed to be insolvent. (c) A partnership is insolvent under
subsection (a) if the sum of the partnership's debts is greater than the aggregate, at a fair
valuation, of all of the partnership's assets and the sum of the excess of the value of each
general partner's nonpartnership assets over the partner's nonpartnership debts. (d) Assets
under this section do not include property that has been transferred, concealed, or removed
with intent to hinder, delay, or defraud creditors or that has been transferred in a manner
making the transfer voidable under this chapter. (e) Debts under this section do not include
an obligation to the extent it is secured by a valid lien on property of the debtor not included
as an asset. (Acts 1989, No. 89-793, p. 1585, §2.)...
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12-19-133
Section 12-19-133 Effect of certificate of attendance; obligation of witness to appear in same
case when fees not paid. The certificate issued to the witness entitles him to demand, of
the party summoning or at whose request he attended, the amount therein stated and is presumptive
evidence that such amount is due in any proceeding instituted for its recovery; and, if in
any civil case, on demand therefor of the party, his agent or attorney, the same is not paid,
the witness is not obliged to appear again as a witness in the same case until his fees are
paid. (Code 1852, §2388; Code 1867, §2793; Code 1876, §3141; Code 1886, §2850; Code 1896,
§1341; Code 1907, §3678; Code 1923, §7238; Code 1940, T. 11, §49.)...
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35-10-26
Section 35-10-26 Title revested upon payment of debt. The payment or satisfaction of the real
property mortgage debt divests the title passing by the mortgage. "Payment or satisfaction
of the real property mortgage debt" shall not occur until there is no outstanding indebtedness
or other obligation secured by the mortgage, and no commitment or agreement by the mortgagee
to make advances, incur obligations or otherwise give value (collectively referred to as "extend
value"), under any agreement, including, without limitation, agreements providing for
future advances, open end, revolving or other lines of credit, or letters of credit. Except
as otherwise specifically provided to the contrary in the Alabama Residential Mortgage Satisfaction
Act, upon the written request to satisfy a mortgage signed by the mortgagors and by all other
persons who have a right to require the mortgagee to extend value or signed by other authorized
representatives on behalf of the mortgagors and such other...
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7-11-106
Section 7-11-106 Required refilings. (1) If a security interest is perfected or has priority
on February 1, 1982, as to all persons or as to certain persons without any filing or recording,
and if the filing of a financing statement would be required for the perfection or priority
of the security interest against those persons under the new U.C.C., the perfection and priority
rights of the security interest continue until three years after February 1, 1982. The perfection
will then lapse unless a financing statement is filed as provided in subsection (2) or unless
the security interest is perfected otherwise than by filing. (2) A financing statement may
be filed within six months before the perfection of a security interest would otherwise lapse.
Any such financing statement may be signed by either the debtor or the secured party. It must
identify the security agreement, statement or notice (however denominated in any statute or
other law repealed or modified by this act), state the...
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7-8-603
Section 7-8-603 Savings clause. (a) This act does not affect an action or proceeding commenced
before this act takes effect. (b) If a security interest in a security is perfected at the
date this act takes effect, and the action by which the security interest was perfected would
suffice to perfect a security interest under this act, no further action is required to continue
perfection. If a security interest in a security is perfected at the date this act takes effect
but the action by which the security interest was perfected would not suffice to perfect a
security interest under this act, the security interest remains perfected for a period of
four months after the effective date and continues perfected thereafter if appropriate action
to perfect under this act is taken within that period. If a security interest is perfected
at the date this act takes effect and the security interest can be perfected by filing under
this act, a financing statement signed by the secured party instead...
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7-9A-317
Section 7-9A-317 Interests that take priority over or take free of security interest or agricultural
lien. (a) Conflicting security interests and rights of lien creditors. A security interest
or agricultural lien is subordinate to the rights of: (1) a person entitled to priority under
Section 7-9A-322; and (2) except as otherwise provided in subsection (e), a person that becomes
a lien creditor before the earlier of the time: (A) the security interest or agricultural
lien is perfected; or (B) one of the conditions specified in Section 7-9A-203(b)(3) is met
and a financing statement covering the collateral is filed. (b) Buyers that receive delivery.
Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible
chattel paper, tangible documents, goods, instruments, or a certificated security takes free
of a security interest or agricultural lien if the buyer gives value and receives delivery
of the collateral without knowledge of the security interest...
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7-9A-330
Section 7-9A-330 Priority of purchaser of chattel paper or instrument. (a) Purchaser's priority:
Security interest claimed merely as proceeds. A purchaser of chattel paper has priority over
a security interest in the chattel paper which is claimed merely as proceeds of inventory
subject to a security interest if: (1) in good faith and in the ordinary course of the purchaser's
business, the purchaser gives new value and takes possession of the chattel paper or obtains
control of the chattel paper under Section 7-9A-105; and (2) the chattel paper does not indicate
that it has been assigned to an identified assignee other than the purchaser. (b) Purchaser's
priority: Other security interests. A purchaser of chattel paper has priority over a security
interest in the chattel paper which is claimed other than merely as proceeds of inventory
subject to a security interest if the purchaser gives new value and takes possession of the
chattel paper or obtains control of the chattel paper under...
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7-9A-521
Section 7-9A-521 Uniform form of written financing statement and amendment. (a) Initial financing
statement form. A filing office that accepts written records may not refuse to accept a written
initial financing statement in the following form and format except for a reason set forth
in Section 7-9A-516(b): UCC FINANCING STATEMENT FOLLOW INSTRUCTIONS A. NAME & PHONE OF
CONTACT AT FILER (optional) ___ B. E-MAIL CONTACT AT FILER (optional) ___ C. SEND ACKNOWLEDGMENT
TO: (Name and Address) ___ THE ABOVE SPACE IS FOR FILING OFFICE USE ONLY 1. DEBTOR'S NAME:
Provide only one Debtor name (1a or 1b) (use exact, full name; do not omit, modify, or abbreviate
any part of the Debtor's name); if any part of the Individual Debtor's name will not fit in
line 1b, leave all of item 1 blank, check here [ ] and provide the Individual Debtor information
in item 10 of the Financing Statement Addendum (Form UCC1Ad) 1a....
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7-9A-516
Section 7-9A-516 What constitutes filing; effectiveness of filing. (a) What constitutes filing.
Except as otherwise provided in subsection (b), communication of a record to a filing office
and tender of the filing fee or acceptance of the record by the filing office constitutes
filing. (b) Refusal to accept record; filing does not occur. Filing does not occur with respect
to a record that a filing office refuses to accept because: (1) the record is not communicated
by a method or medium of communication authorized by the filing office; (2) an amount equal
to or greater than the applicable filing fee is not tendered; (3) the filing office is unable
to index the record because: (A) in the case of an initial financing statement, the record
does not provide a name for the debtor; (B) in the case of an amendment or information statement,
the record: (i) does not identify the initial financing statement as required by Section 7-9A-512
or 7-9A-518, as applicable; or (ii) identifies an initial...
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18-1A-151
Section 18-1A-151 Demand for trial by jury; waiver; procedure for jury selection, etc. (a)
In the circuit court the amount of compensation and any additional issue for which the right
to trial by jury is secured by the Constitution shall be determined by a jury only if a party
entitled to participate in the trial of the issue expressly demands trial by jury. The circuit
court shall determine all other issues without a jury. (b) The number of jurors, method used
for impanelling and selecting jurors, number and method for exercising challenges, form of
oath to be administered, number of jurors required to return a verdict, and all other procedures
relating to trial by jury, to the extent practicable, shall conform to the requirements applicable
in civil actions under the Alabama Rules of Civil Procedure. (Acts 1985, No. 85-548, p. 802,
§902.)...
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