40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall not be perfected as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed. (b) Protection for certain interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of such security who at the time of purchase did not have actual notice or knowledge of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-22.htm - 17K - Match Info - Similar pages
41-10-541
Section 41-10-541 Definitions. (a) The following words and phrases used in this division, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) APPROPRIATED FUNDS. Net TVA payments to the extent such payments are pledged and appropriated to the authority pursuant to Section 41-10-550. (2) AUTHORITY. The public corporation organized pursuant to this division. (3) AUTHORITY GUARANTY. An agreement of the authority pursuant to which the payment of debt service referable to bonds, notes, or other evidences of indebtedness of a development agency is guaranteed by the authority. (4) AUTHORITY OBLIGATIONS. Bonds of the authority and authority guaranties. (5) AUTHORITY-GUARANTEED OBLIGATIONS. Bonds, notes, or other evidences of indebtedness of a development agency that are issued solely for the purpose in financing a project and that are guaranteed, in whole or in part,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-541.htm - 13K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall execute a compact, in substantially the following form, with the State of Mississippi, and the Legislature approves and ratifies the compact in the form substantially as follows: Northeast Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry, and employment opportunities for the public good and welfare in northeast Mississippi and northwest Alabama through the establishment of a joint interstate authority to acquire certain railroad properties and facilities which the operator thereof has notified the Interstate Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion, or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II. This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
7-9A-210
Section 7-9A-210 Request for accounting; request regarding list of collateral or statement of account. (a) Definitions. In this section: (1) "Request" means a record of a type described in paragraph (2), (3), or (4). (2) "Request for an accounting" means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request. (3) "Request regarding a list of collateral" means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request. (4) "Request regarding a statement of account" means a record authenticated by a debtor requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-210.htm - 4K - Match Info - Similar pages
7-11-105
Section 7-11-105 Transition provision on change of place of filing. (1) A financing statement or continuation statement filed prior to February 1, 1982, which shall not have lapsed prior to February 1, 1982, shall remain effective for the period provided in the old U.C.C., but not less than five years after the filing. (2) With respect to any collateral acquired by the debtor subsequent to February 1, 1982, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under the new U.C.C. (3) The effectiveness of any financing statement or continuation statement filed prior to February 1, 1982, may be continued by a continuation statement as permitted by the new U.C.C., except that if the new U.C.C. requires a filing in an office where there was no previous financing statement, a new financing statement...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-11-105.htm - 1K - Match Info - Similar pages
7-9A-507
Section 7-9A-507 Effect of certain events on effectiveness of financing statement. (a) Disposition. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. (b) Information becoming seriously misleading. Except as otherwise provided in subsection (c) and Section 7-9A-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under Section 7-9A-506. (c) Change in debtor's name. If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under Section 7-9A-503(a) so that the financing statement becomes seriously misleading under Section 7-9A-506: (1) the financing statement is effective to perfect a...
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7-9A-525
Section 7-9A-525 Fees. (a) Initial financing statement or other record: General rule. Except as otherwise provided in subsection (e), and except that no filing fee is required for the filing of a termination statement pursuant to Section 7-9A-513, the fee for filing and indexing a record under this part is: (1) $20.00 if the record is communicated in writing and consists of one or two pages; (2) $20.00 plus $2.00 for each page more than two if the record is communicated in writing and consists of more than two pages; and (3) $15.00 if the record is communicated by another medium authorized by filing-office rule. (b) Initial financing statement: Manufactured-housing transactions: Section 7-9A-502(c). Except as otherwise provided in subsection (c), the fee for filing and indexing an initial financing statement of the kind described in Section 7-9A-502(c) is $10.00 if the financing statement indicates that it is filed in connection with a manufactured-home transaction. (c) Number of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-525.htm - 5K - Match Info - Similar pages
7-9A-707
Section 7-9A-707 Amendment of pre-effective-date financing statement. (a) "Pre-effective-date financing statement". In this section, "pre-effective-date financing statement" means a financing statement filed before January 1, 2002. (b) Applicable law. After January 1, 2002, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed. (c) Method of amending: General rule. Except as otherwise provided in subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after January 1, 2002, only if:...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-707.htm - 2K - Match Info - Similar pages
7-9A-807
Section 7-9A-807 Amendment of pre-effective date financing statement. (a) Pre-effective date financing statement. In this section, pre-effective date financing statement means a financing statement filed before July 1, 2014. (b) Applicable law. After July 1, 2014, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Article 9A as amended by Act 2014-374. However, the effectiveness of a pre-effective date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed. (c) Method of amending: general rule. Except as otherwise provided in subsection (d), if the law of this state governs perfection of security interest, the information in a pre-effective date financing statement may be amended after Act...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-807.htm - 2K - Match Info - Similar pages
7-9A-503
Section 7-9A-503 Name of debtor and secured party. (a) Sufficiency of debtor's name. A financing statement sufficiently provides the name of the debtor: (1) except as otherwise provided in paragraph (3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend, or restate the registered organization's name; (2) subject to subsection (f), if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative; (3) if the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-503.htm - 5K - Match Info - Similar pages
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