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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7-9A-501
Section 7-9A-501 Filing office. (a) Filing offices. Except as otherwise provided in subsection
(b), if the local law of this State governs perfection of a security interest or agricultural
lien, the office in which to file a financing statement to perfect the security interest or
agricultural lien is: (1) the office designated for the filing or recording of a record of
a mortgage on the related real property, if: (A) the collateral is as-extracted collateral
or timber to be cut; or (B) the financing statement is filed as a fixture filing and the collateral
is goods that are or are to become fixtures; or (2) the office of the Secretary of State,
in all other cases, including a case in which the collateral is goods that are or are to become
fixtures and the financing statement is not filed as a fixture filing. (b) Filing office for
transmitting utilities. The office in which to file a financing statement to perfect a security
interest in collateral, including fixtures, of a transmitting...
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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.)...
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32-8-64.1
Section 32-8-64.1 Satisfaction of security interest after 12 years. Except for liens and security
interests listed on certificates of title for manufactured homes, travel trailers, or vehicles
that weigh more than 12,000 pounds gross weight, which shall be satisfied only in conformity
with Section 32-8-64, any lien or security interest shall be considered satisfied and release
shall not be required after 12 years from the date of the security agreement as recorded on
the certificate of title. Nothing in this section shall preclude the perfection of a lien
or security agreement, or the perfection of an extension of a lien or security agreement beyond
a period of 12 years, by application for a new certificate of title on which the lien or security
agreement is listed. In order to provide for the continuous perfection of a lien or security
interest originally entered into for a period of more than 12 years for a vehicle other than
a manufactured home, travel trailer, or vehicle that...
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32-8-64.2
Section 32-8-64.2 Release of certain liens. (a) Except for liens and security interests listed
on certificates of title for travel trailers or vehicles that weigh more than 12,000 pounds
gross weight, which shall be satisfied only in conformity with Section 32-8-64, any lien or
security interest shall be considered satisfied and release shall not be required after four
years from the date of the security agreement as recorded on the certificate of title for
vehicles which are 12 or more model years old. Nothing in this section shall preclude the
perfection of a lien or security agreement, or the perfection of an extension of a lien or
security agreement beyond a period of four years, by application for a new certificate of
title on which the lien or security agreement is listed. In order to provide for the continuous
perfection of a lien or security interest originally entered into for a period of more than
four years for a vehicle other than a travel trailer or vehicle that weighs...
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8-15-33
Section 8-15-33 Lien of owner, etc., of self-service storage facility upon personal
property located at facility. Where a rental agreement, as defined in subdivision (7) of Section
8-15-31, is entered into between the owner and the occupant, the owner of a self-service storage
facility and his heirs, executors, administrators, successors, and assigns shall have a lien
upon all personal property located at a self-service storage facility for rent, labor,
or other charges, present or future, in relation to the personal property and for expenses
necessary for its preservation or expenses reasonably incurred in its sale or other disposition
pursuant to this article. The lien attaches as of the date the personal property is
brought to the self-service storage facility and continues so long as the owner retains possession
and until the default is corrected, or a sale is conducted, or the property is otherwise disposed
of to satisfy the lien. The lien provided for in this section is superior...
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7-2A-103
or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in
use or in the relevant market as a single whole. (d) "Conforming" goods or performance
under a lease contract means goods or performance that are in accordance with the obligations
under the lease contract. (e) "Consumer lease" means a lease that a lessor regularly
engaged in the business of leasing or selling makes to a lessee who is an individual and who
takes under the lease primarily for a personal, family, or household purpose, if the
total payments to be made under the lease contract, excluding payments for options to renew
or buy, do not exceed $100,000. (f) "Fault" means wrongful act, omission, breach,
or default. (g) "Finance lease" means a lease with respect to which: (i) the lessor
does not select, manufacture, or supply the goods; (ii) the lessor acquires the goods or the
right to possession and use of the goods in connection with the lease; and (iii) one of the
following...
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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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7-9A-705
Section 7-9A-705 Effectiveness of action taken before January 1, 2002. (a) Pre-effective-date
action; one-year perfection period unless reperfected. If action, other than the filing of
a financing statement, is taken before January 1, 2002, and the action would have resulted
in priority of a security interest over the rights of a person that becomes a lien creditor
had the security interest become enforceable before January 1, 2002, the action is effective
to perfect a security interest that attaches under this article within one year after January
1, 2002. An attached security interest becomes unperfected one year after January 1, 2002,
unless the security interest becomes a perfected security interest under this article before
the expiration of that period. (b) Pre-effective-date filing. The filing of a financing statement
before January 1, 2002, is effective to perfect a security interest to the extent the filing
would satisfy the applicable requirements for perfection under this...
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8-9A-6
asset that is not real property or that is a fixture, when the transfer is so far perfected
that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this
chapter that is superior to the interest of the transferee; (2) If applicable law permits
the transfer to be perfected as provided in subdivision (1) and the transfer is not so perfected
before the commencement of an action for relief under this chapter, the transfer is deemed
made immediately before the commencement of the action; (3) If applicable law does not permit
the transfer to be perfected as provided in subdivision (1), the transfer is made when it
becomes effective between the debtor and the transferee. (4) Except with respect to personal
property and fixtures where a lender has perfected its security interest in such property
in which event paragraph (1)a shall apply, a transfer is not made until the debtor has acquired
rights in the asset transferred. (Acts 1989, No. 89-793, p. 1585, §6.)...
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