7-9A-402
Section 7-9A-402 Secured party not obligated on contract of debtor or in tort. The existence
of a security interest, agricultural lien, or authority given to a debtor to dispose of or
use collateral, without more, does not subject a secured party to liability in contract or
tort for the debtor's acts or omissions. (Act 2001-481, p. 647, §1.)...
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35-9A-425
Section 35-9A-425 Landlord liens; distraint for rent. (a) A lien or security interest on behalf
of the landlord in the tenant's household goods is not enforceable unless perfected before
January 1, 2007. (b) Distraint for rent is abolished. (Act 2006-316, p. 668, §1.)...
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7-9A-335
Section 7-9A-335 Accessions. (a) Creation of security interest in accession. A security interest
may be created in an accession and continues in collateral that becomes an accession. (b)
Perfection of security interest. If a security interest is perfected when the collateral becomes
an accession, the security interest remains perfected in the collateral. (c) Priority of security
interest. Except as otherwise provided in subsection (d), the other provisions of this part
determine the priority of a security interest in an accession. (d) Compliance with certificate-of-title
statute. A security interest in an accession is subordinate to a security interest in the
whole which is perfected by compliance with the requirements of a certificate-of-title statute
under Section 7-9A-311(b). (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...
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7-9A-622
Section 7-9A-622 Effect of acceptance of collateral. (a) Effect of acceptance. A secured party's
acceptance of collateral in full or partial satisfaction of the obligation it secures: (1)
discharges the obligation to the extent consented to by the debtor; (2) transfers to the secured
party all of a debtor's rights in the collateral; (3) discharges the security interest or
agricultural lien that is the subject of the debtor's consent and any subordinate security
interest or other subordinate lien; and (4) terminates any other subordinate interest. (b)
Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is
discharged or terminated under subsection (a), even if the secured party fails to comply with
this article. (Act 2001-481, p. 647, §1.)...
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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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7-9A-337
Section 7-9A-337 Priority of security interests in goods covered by certificate of title. If,
while a security interest in goods is perfected by any method under the law of another jurisdiction,
this State issues a certificate of title that does not show that the goods are subject to
the security interest or contain a statement that they may be subject to security interests
not shown on the certificate: (1) a buyer of the goods, other than a person in the business
of selling goods of that kind, takes free of the security interest if the buyer gives value
and receives delivery of the goods after issuance of the certificate and without knowledge
of the security interest; and (2) the security interest is subordinate to a conflicting security
interest in the goods that attaches, and is perfected under Section 7-9A-311(b), after issuance
of the certificate and without the conflicting secured party's knowledge of the security interest.
(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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7-9A-512
Section 7-9A-512 Amendment of financing statement. (a) Amendment of information in financing
statement. Subject to Section 7-9A-509, a person may add or delete collateral covered by,
continue or terminate the effectiveness of, or, subject to subsection (e), otherwise amend
the information provided in, a financing statement by filing an amendment that: (1) identifies,
by its file number, the initial financing statement to which the amendment relates; and (2)
if the amendment relates to an initial financing statement filed or recorded in a filing office
described in Section 7-9A-501(a)(1), provides the information specified in Section 7-9A-502(b).
(b) Period of effectiveness not affected. Except as otherwise provided in Section 7-9A-515,
the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c) Effectiveness of amendment adding collateral. A financing statement that is amended by
an amendment that adds collateral is effective as to the added...
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7-9A-617
Section 7-9A-617 Rights of transferee of collateral. (a) Effects of disposition. A secured
party's disposition of collateral after default: (1) transfers to a transferee for value all
of the debtor's rights in the collateral; (2) discharges the security interest under which
the disposition is made; and (3) discharges any subordinate security interest or other subordinate
lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free
of the rights and interests described in subsection (a), even if the secured party fails to
comply with this article or the requirements of any judicial proceeding. (c) Rights of other
transferee. If a transferee does not take free of the rights and interests described in subsection
(a), the transferee takes the collateral subject to: (1) the debtor's rights in the collateral;
(2) the security interest or agricultural lien under which the disposition is made; and (3)
any other security interest or other lien. (Act 2001-481, p....
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