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7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables,
and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective.
Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement
between an account debtor and a debtor which relates to a health-care-insurance receivable
or a general intangible, including a contract, permit, license, or franchise, and which term
prohibits, restricts, or requires the consent of the person obligated on the promissory note
or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection
of a security interest in, the promissory note, health-care-insurance receivable, or general
intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment,
or perfection of a security interest; or (2) provides that the assignment or transfer or the
creation, attachment, or perfection of the...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...
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7-9A-611
Section 7-9A-611 Notification before disposition of collateral. (a) "Notification date."
In this section, "notification date" means the earlier of the date on which: (1)
a secured party sends to the debtor and any secondary obligor an authenticated notification
of disposition; or (2) the debtor and any secondary obligor waive the right to notification.
(b) Notification of disposition required. Except as otherwise provided in subsection (d),
a secured party that disposes of collateral under Section 7-9A-610 shall send to the persons
specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons
to be notified. To comply with subsection (b), the secured party shall send an authenticated
notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the
collateral is other than consumer goods: (A) any other person from which the secured party
has received, before the notification date, an authenticated notification of a claim of an...
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8-6-11
Section 8-6-11 Registration of securities - Exempt transactions. (a) Except as hereinafter
in this section expressly provided, Sections 8-6-3 through 8-6-9 shall not apply to any of
the following transactions: (1) Any isolated nonissuer transaction, whether effected through
a dealer or not; (2) Any nonissuer transaction in an outstanding security by a registered
dealer if: a. The issuer has a class of securities subject to registration under Section 12
of the Securities Exchange Act of 1934 and has been subject to the reporting requirements
of Sections 13 or 15(d) of the Securities Exchange Act of 1934 for not less than 180 days
before the transaction; or has filed and maintained with the commission for not less than
180 days before the transaction information, in such form as the commission, by rule, specifies,
substantially comparable to the information which the issuer would be required to file under
Section 12(b) or Section 12(g) of the Securities Exchange Act of 1934, or the...
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11-97-10
Section 11-97-10 Security for payment of bonds; contracts and agreements to secure. (a) Bonds
issued by any corporation may, as its board may deem advisable, be either general obligations
of such corporation or limited obligations payable only out of certain specified revenues
or assets of such corporation; provided, that any corporation may enter into contracts with
the holders of any of its bonds preventing such corporation from thereafter issuing general
obligation bonds or limiting the amount of such bonds that may thereafter be issued. To the
extent permitted by any contracts with the holders of outstanding bonds and any other contractual
obligations or requirements, any corporation may pledge any of its revenues or mortgage or
assign any of its assets, whether real or personal and whether tangible or intangible, to
secure the payment of any of its bonds. (b) As security for payment of the principal of and
the interest and premium, if any, on any bonds issued or assumed by it, any...
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32-7-6
Section 32-7-6 Security required; suspensions; applicability. (a) If 20 days after the receipt
of a report of a motor vehicle accident within this state which has resulted in bodily injury
or death, or damage to the property of any one person in excess of five hundred dollars ($500),
the director does not have on file evidence satisfactory that the person who would otherwise
be required to file security under subsection (b) of this section has been released from liability,
or has been finally adjudicated not to be liable, or has executed a duly acknowledged written
agreement or conditional release providing for the payment of an agreed amount in installments
with respect to all claims for injuries or damages resulting from the accident, which agreement
or conditional release may include reasonable interest as set out in Section 32-7-7, the director
shall determine the amount of security which shall be sufficient in his or her judgment to
satisfy any judgment or judgments for damages...
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35-8A-317
Section 35-8A-317 Other liens affecting the condominium. (a) Except as provided in subsection
(b), a judgment for money against the association if recorded is not a lien on the common
elements, but is a lien in favor of the judgment lienholder against all of the units in the
condominium at the time the judgment was entered. No other property of a unit owner is subject
to the claims of creditors of the association. (b) If the association has granted a security
interest in the common elements to a creditor of the association pursuant to Section 35-8A-312,
the holder of that security interest shall exercise its right against the common elements
before its judgment lien on any unit may be enforced. (c) Whether perfected before or after
the creation of the condominium, if a lien other than a deed of trust or mortgage, including
a judgment lien or lien attributable to work performed or materials supplied before creation
of the condominium, becomes effective against two or more units, the...
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35-10-91
Section 35-10-91 Payoff statement; notice. (a) A person liable for payment or performance of
the obligation secured by the real property described in a security instrument who makes proper
notice pursuant to this section shall be entitled to receive a payoff statement. (b) Proper
notice must contain all of the following: (1) The entitled person's name. (2) If given by
a person other than an entitled person, the name of the person giving the notification and
a statement, if required by the secured party evidence, that the person is an authorized agent
of the entitled person. (3) The address to which the creditor must send the statement. (4)
The account number assigned by the secured creditor or other sufficient information to enable
the creditor to identify the secured obligation and the real property encumbered by the security
interest. (5) If the secured obligation is an equity line, a statement that the entitled person
requests the secured creditor to close the equity line upon...
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40-9B-4
Section 40-9B-4 Authorization of abatement. (a) Noneducational ad valorem taxes, construction
related transaction taxes, except those local construction related transaction taxes levied
for educational purposes or for capital improvements for education, and mortgage and recording
taxes, or payments required to be made in lieu thereof, and in the case of a qualifying industrial
or research enterprise described in Section 40-9B-3(a)(10)e. which is owned by an entity organized
under Chapter 6 of Title 37, or by an authority both organized and existing pursuant to Chapter
50A of Title 11, and subject to the payments required to be made in lieu of ad valorem, sales,
use, license, and severance taxes imposed by Section 11-50A-7, in addition to the foregoing,
all other ad valorem taxes, or payments required to be made in lieu thereof, imposed by the
state, counties, municipalities, and other taxing jurisdictions of Alabama, may be abated
with respect to private use industrial property and...
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11-50A-8
Section 11-50A-8 Powers of the authority. In addition to other powers granted the authority
by this chapter, it shall have all powers consistent with the purposes of the authority as
set forth in Section 11-50A-3, which are necessary or convenient to carry out and effectuate
the purposes and provisions of this chapter, including, but without limiting the generality
of the foregoing, the following enumerated powers, which shall be exercised by the authority
consistently with the provisions of Section 11-50A-3: (1) To sue and be sued and to prosecute
and defend in any court having jurisdiction of the subject matter and of the parties thereto;
(2) To adopt and alter a corporate seal; (3) To make and alter at pleasure all needful bylaws,
rules, and regulations for the transaction of its business and the control of its property
and affairs; (4) To have the same right of eminent domain through condemnation conferred by
Section 10-5-1, or any subsequent statute of similar import; provided...
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