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7-9A-311
Section 7-9A-311 Perfection of security interests in property subject to certain statutes,
regulations, and treaties. (a) Security interest subject to other law. Except as otherwise
provided in subsection (d), the filing of a financing statement is not necessary or effective
to perfect a security interest in property subject to: (1) a statute, regulation, or treaty
of the United States whose requirements for a security interest's obtaining priority over
the rights of a lien creditor with respect to the property preempt Section 7-9A-310(a); (2)
Chapter 8 or Chapter 20 of Title 32 or another statute of this state which provides for a
security interest to be indicated on a certificate of title as a condition or result of the
security interest's obtaining priority over the rights of a lien creditor with respect to
the collateral, or any central filing system created by another statute of this state governing
perfection of a security interest in collateral that is subject to this article;...
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7-9A-310
Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security
interests and agricultural liens to which filing provisions do not apply. (a) General rule:
Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b),
a financing statement must be filed to perfect all security interests and agricultural liens.
(b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary
to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f),
or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject
to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession
of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities,
documents, goods, or instruments which is perfected without filing, control, or possession
under Section 7-9A-312(e), (f), or (g); (6) in collateral...
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40-2A-7
Section 40-2A-7 Uniform revenue procedures. (a) Maintenance of records; audit and subpoena
authority; authority to issue regulations. (1) In addition to all other recordkeeping requirements
otherwise set out in this title, taxpayers shall keep and maintain an accurate and complete
set of records, books, and other information sufficient to allow the department to determine
the correct amount of value or correct amount of any tax, license, permit, or fee administered
by the department, or other records or information as may be necessary for the proper administration
of any matters under the jurisdiction of the department. The books, records, and other information
shall be open and available for inspection by the department upon request at a reasonable
time and location. (2) The department may examine and audit the records, books, or other relevant
information maintained by any taxpayer or other person for the purpose of computing and determining
the correct amount of value or correct...
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32-8-87
Section 32-8-87 Dismantling, destroying, changing identity of vehicle; certificate requirements;
insurance claims; "total loss"; removal of identification numbers, plates, etc.;
transfer of salvage vehicles; inspections; "component parts"; rebuilt vehicles;
flood vehicles; online verifications. (a) Each owner of a motor vehicle and each person mentioned
as owner in the last certificate of title who scraps, dismantles, destroys, or changes the
motor vehicle in such a manner that it is not the same motor vehicle described in the certificate
of origin or certificate of title shall as soon as practicable cause the certificate of origin
or certificate of title, if any, and any other documents or information required by the department
to be mailed or delivered to the department for processing. The department shall, with the
consent of any holder of liens noted on the surrendered certificate, enter a cancellation
upon its records. Upon cancellation of a certificate of origin or certificate of...
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7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests to
which filing provisions of this article do not apply. THIS SECTION WAS REPEALED IN THE 2001
REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement must be
filed to perfect all security interests except the following: (a) A security interest in collateral
in possession of the secured party under Section 7-9-305; (b) A security interest temporarily
perfected in instruments, certificated securities, or documents without delivery under Section
7-9-304 or in proceeds for a 20-day period under Section 7-9-306; (c) A security interest
created by an assignment of a beneficial interest in a trust or a decedent's estate; (d) A
purchase money security interest in consumer goods; but filing is required for a motor vehicle
required to be registered; and fixture filing is required for priority over conflicting interests
in fixtures to the extent provided in Section 7-9-313; (e) An...
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7-9A-334
Section 7-9A-334 Priority of security interests in fixtures and crops. (a) Security interest
in fixtures under this article. A security interest under this article may be created in goods
that are fixtures or may continue in goods that become fixtures. A security interest does
not exist under this article in ordinary building materials incorporated into an improvement
on land. (b) Security interest in fixtures under real-property law. This article does not
prevent creation of an encumbrance upon fixtures under real property law. (c) General rule:
Subordination of security interest in fixtures. In cases not governed by subsections (d) through
(h), a security interest in fixtures is subordinate to a conflicting interest of an encumbrancer
or owner of the related real property other than the debtor. (d) Fixtures purchase-money priority.
Except as otherwise provided in subsection (h), a perfected security interest in fixtures
has priority over a conflicting interest of an encumbrancer or...
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11-20-74
Section 11-20-74 Borrowing of money; security. (a) Subject to the conditions, qualifications,
and restrictions set forth in subsection (b), an agriculture authority may borrow money from
any person or governmental entity. As security for any money borrowed, together with interest
thereon, and any obligations incurred or assumed, an agriculture authority may mortgage, pledge,
or otherwise transfer and convey its real, personal, and mixed property, or any part or parts
thereof, whether then owned or thereafter acquired, including any franchises then owed or
thereafter adopted and all or any part of any funds of the authority. In a resolution authorizing
the mortgage given to secure the payment thereof, an agriculture authority, in addition to
its other powers, shall have the power to agree with the several holders of the mortgage to
make, enter, and perform covenants and agreements as to all of the following: (1) The conduct,
management, and maintenance of the properties held by the...
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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-406
Section 7-9A-406 Discharge of account debtor; notification of assignment; identification and
proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles,
and promissory notes ineffective. (a) Discharge of account debtor; effect of notification.
Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or
a payment intangible may discharge its obligation by paying the assignor until, but not after,
the account debtor receives a notification, authenticated by the assignor or the assignee,
that the amount due or to become due has been assigned and that payment is to be made to the
assignee. After receipt of the notification, the account debtor may discharge its obligation
by paying the assignee and may not discharge the obligation by paying the assignor. (b) When
notification ineffective. Subject to subsection (h), notification is ineffective under subsection
(a): (1) if it does not reasonably identify the rights assigned;...
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10A-5-6.06
Section 10A-5-6.06 Cessation of membership. REPEALED IN THE 2014 REGULAR SESSION BY ACT 2014-144
EFFECTIVE JANUARY 1, 2017. (a) A person ceases to be a member of a limited liability company
upon the occurrence of one or more of the following events: (1) The member ceases to be a
member by voluntary act as provided in subsection (d). (2) The member ceases to be a member
of the limited liability company as provided in Section 10A-5-6.03. (3) The member is removed
as a member in either of the following manners: a. In accordance with the operating agreement.
b. Subject to contrary provisions in the operating agreement, when the member assigns all
of the member's interest in the limited liability company, by an affirmative vote of a majority
in number of the members who have not assigned their interests. (b) Subject to contrary provisions
in the operating agreement, or written consent of all members at the time, a person ceases
to be a member upon the occurrence of one or more of the...
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