8-6-72
Section 8-6-72 (Repealed effective January 1, 1997) Registration and transfer governed by state
of incorporation; applicability of article. (a) The rights and duties of a corporation and
its transfer agents in registering a security in the name of a fiduciary or in making a transfer
of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction
under whose laws the corporation is organized. (b) This article applies to the rights and
duties of a person other than the corporation and its transfer agents with regard to acts
and omissions in this state in connection with the acquisition, disposition, assignment, or
transfer of a security by, or to, a fiduciary and of a person who guarantees in this state
the signature of a fiduciary in connection with such a transaction. (Acts 1961, No. 1016,
p. 1593, §8.)...
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6-11-56
Section 6-11-56 Waiver; choice of law; procedures for life-contingent rights; liability. (a)
The provisions of this article may not be waived by any payee. (b) Any transfer agreement
entered into on or after July 1, 2006, by a payee who resides in this state shall provide
that disputes under the transfer agreement, including any claim that the payee has breached
the agreement, shall be determined in and under the laws of this state. Such a transfer agreement
shall not authorize the transferee or any other party to confess judgment or consent to entry
of judgment against the payee. (c) No transfer of structured settlement payment rights shall
extend to any payments that are life-contingent unless, prior to the date on which the payee
signs the transfer agreement, the transferee has established and has agreed to maintain procedures
reasonably satisfactory to the annuity issuer and the structured settlement obligor for (1)
periodically confirming the payee's survival, and (2) giving the...
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35-8A-304
Section 35-8A-304 Transfer of special declarant rights. (a) No special declarant right specified
in Section 35-8A-103(24) created or reserved under this chapter may be transferred except
by an instrument evidencing the transfer recorded in every county in which any portion of
the condominium is located. The instrument is not effective unless executed by the transferor
and the transferee in the same formality as a conveyance of real property. (b) Upon transfer
of any special declarant right, the liability of a transferor declarant is as follows: (1)
A transferor is not relieved of any obligation or liability arising before the transfer and
remains liable for warranty obligations imposed upon him or her by this chapter. Lack of privity
does not deprive any unit owner of standing to maintain an action to enforce any obligation
of the transferor. (2) If a successor to any special declarant right is an affiliate of a
declarant specified in Section 35-8A-103(1), the transferor is jointly and...
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7-9A-207
Section 7-9A-207 Rights and duties of secured party having possession or control of collateral.
(a) Duty of care when secured party in possession. Except as otherwise provided in subsection
(d), a secured party shall use reasonable care in the custody and preservation of collateral
in the secured party's possession. In the case of chattel paper or an instrument, reasonable
care includes taking necessary steps to preserve rights against prior parties unless otherwise
agreed. (b) Expenses, risks, duties, and rights when secured party in possession. Except as
otherwise provided in subsection (d), if a secured party has possession of collateral: (1)
reasonable expenses, including the cost of insurance and payment of taxes or other charges,
incurred in the custody, preservation, use, or operation of the collateral are chargeable
to the debtor and are secured by the collateral; (2) the risk of accidental loss or damage
is on the debtor to the extent of a deficiency in any effective insurance...
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7-9A-404
Section 7-9A-404 Rights acquired by assignee; claims and defenses against assignee. (a) Assignee's
rights subject to terms, claims, and defenses; exceptions. Unless an account debtor has made
an enforceable agreement not to assert defenses or claims, and subject to subsections (b)
through (e), the rights of an assignee are subject to: (1) all terms of the agreement between
the account debtor and assignor and any defense or claim in recoupment arising from the transaction
that gave rise to the contract; and (2) any other defense or claim of the account debtor against
the assignor which accrues before the account debtor receives a notification of the assignment
authenticated by the assignor or the assignee. (b) Account debtor's claim reduces amount owed
to assignee. Subject to subsection (c) and except as otherwise provided in subsection (d),
the claim of an account debtor against an assignor may be asserted against an assignee under
subsection (a) only to reduce the amount the account...
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7-9A-403
Section 7-9A-403 Agreement not to assert defenses against assignee. (a) "Value."
In this section, "value" has the meaning provided in Section 7-3-303(a). (b) Agreement
not to assert claim or defense. Except as otherwise provided in this section, an agreement
between an account debtor and an assignor not to assert against an assignee any claim or defense
that the account debtor may have against the assignor is enforceable by an assignee that takes
an assignment: (1) for value; (2) in good faith; (3) without notice of a claim of a property
or possessory right to the property assigned; and (4) without notice of a defense or claim
in recoupment of the type that may be asserted against a person entitled to enforce a negotiable
instrument under Section 7-3-305(a). (c) When subsection (b) not applicable. Subsection (b)
does not apply to defenses of a type that may be asserted against a holder in due course of
a negotiable instrument under Section 7-3-305(b). (d) Omission of required statement...
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7-9A-601
Section 7-9A-601 Rights after default; judicial enforcement; consignor or buyer of accounts,
chattel paper, payment intangibles, or promissory notes. (a) Rights of secured party after
default. After default, a secured party has the rights provided in this part and, except as
otherwise provided in Section 7-9A-602, those provided by agreement of the parties. A secured
party: (1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security
interest, or agricultural lien by any available judicial procedure; and (2) if the collateral
is documents, may proceed either as to the documents or as to the goods they cover. (b) Rights
and duties of secured party in possession or control. A secured party in possession of collateral
or control of collateral under Section 7-7-106, 7-9A-104, 7-9A-105, 7-9A-106, or 7-9A-107
has the rights and duties provided in Section 7-9A-207. (c) Rights cumulative; simultaneous
exercise. The rights under subsections (a) and (b) are cumulative...
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7-9A-607
Section 7-9A-607 Collection and enforcement by secured party. (a) Collection and enforcement
generally. If so agreed, and in any event after default, a secured party: (1) may notify an
account debtor or other person obligated on collateral to make payment or otherwise render
performance to or for the benefit of the secured party; (2) may take any proceeds to which
the secured party is entitled under Section 7-9A-315; (3) may enforce the obligations of an
account debtor or other person obligated on collateral and exercise the rights of the debtor
with respect to the obligation of the account debtor or other person obligated on collateral
to make payment or otherwise render performance to the debtor, and with respect to any property
that secures the obligations of the account debtor or other person obligated on the collateral;
(4) if it holds a security interest in a deposit account perfected by control under Section
7-9A-104(a)(1), may apply the balance of the deposit account to the...
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8-15-36
Section 8-15-36 Rights provided by article as additional to other rights allowed by law. Nothing
in this article shall be construed as in any manner impairing or affecting the right of the
parties to create additional rights, duties, and obligations in and by virtue of the rental
agreement. The rights provided by this article shall be in addition to all other rights allowed
by law to a creditor against his debtor. (Acts 1981, No. 81-769, p. 1321, §7.)...
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8-9B-11
Section 8-9B-11 Governing law. (a) In this section, the following rules determine a debtor's
location: (1) A debtor who is an individual is located at the individual's principal residence.
(2) A debtor that is an organization and has only one place of business is located at its
place of business. (3) A debtor that is an organization and has more than one place of business
is located at its chief executive office. (b) A claim for relief in the nature of a claim
for relief under this chapter is governed by the local law of the jurisdiction in which the
debtor is located when the transfer is made. (Act 2018-163, §1.)...
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