7-9A-409
Section 7-9A-409 Restrictions on assignment of letter-of-credit rights ineffective. (a) Term
or law restricting assignment generally ineffective. A term in a letter of credit or a rule
of law, statute, regulation, custom, or practice applicable to the letter of credit which
prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person
to a beneficiary's assignment of or creation of a security interest in a letter-of-credit
right is ineffective to the extent that the term or rule of law, statute, regulation, custom,
or practice: (1) would impair the creation, attachment, or perfection of a security interest
in the letter-of-credit right; or (2) provides that the assignment or the creation, attachment,
or perfection of the security interest may give rise to a default, breach, right of recoupment,
claim, defense, termination, right of termination, or remedy under the letter-of-credit right.
(b) Limitation on ineffectiveness under subsection (a). To the extent...
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8-6-19
Section 8-6-19 Civil liabilities of sellers, agents, etc.; remedies of purchasers. (a) Any
person who: (1) Sells or offers to sell a security in violation of any provision of this article
or of any rule or order imposed under this article or of any condition imposed under this
article, or (2) Sells or offers to sell a security by means of any untrue statement of a material
fact or any omission to state a material fact necessary in order to make the statements made,
in the light of the circumstances under which they are made, not misleading, the buyer not
knowing of the untruth or omission, and who does not sustain the burden of proof that he did
not know and in the exercise of reasonable care could not have known of the untruth or omission,
is liable to the person buying the security from him who may bring an action to recover the
consideration paid for the security, together with interest at six percent per year from the
date of payment, court costs and reasonable attorneys' fees,...
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12-15-134
Section 12-15-134 Maintenance and inspection of law enforcement records. (a) Law enforcement
agencies shall take special precautions to ensure that law enforcement records and files concerning
a child will be maintained in a manner and pursuant to those safeguards that will protect
against disclosure to any unauthorized person, department, agency, or entity. Unless a charge
of delinquency is transferred for criminal prosecution pursuant to Section 12-15-203 or the
juvenile court otherwise orders in the interests of the child or of national security, the
law enforcement records and files with respect to the child shall not be open to public inspection
nor their contents disclosed to the public. (b) Law enforcement records and files described
in subsection (a) shall be open to inspection and copying by the following: (1) A juvenile
court having a child currently before it in any proceeding. (2) Personnel of the Department
of Human Resources, the Department of Youth Services, public and...
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25-4-40.1
Section 25-4-40.1 Employment Security Enhancement Fund. (a) Retroactive to April 1, 1992, there
is hereby placed upon all wages so defined in Section 25-4-16, paid to employees by employers
subject to pay contributions as provided in Sections 25-4-51 and 25-4-54, except as is hereinafter
provided in this section, a special assessment of 0.06 percent (six one-hundredths of one
percent) of such wages. This assessment shall not apply to wages paid during any calendar
quarter of any calendar year by any employer whose rate of contribution has been computed
under the provisions of Section 25-4-54 to be at least 5.40 percent but not more than 5.45
percent for such calendar year, to any employer who for such calendar year has elected to
make payments in lieu of contributions pursuant to Section 25-4-51, nor to any employer who
has not had sufficient unemployment experience to qualify for a rate determination under Section
25-4-54 for such calendar year. (1) Assessments under this section...
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7-2-312
Section 7-2-312 Warranty of title and against infringement; buyer's obligation against infringement.
(1) Subject to subsection (2) there is in a contract for sale a warranty by the seller that:
(a) The title conveyed shall be good, and its transfer rightful; and (b) The goods shall be
delivered free from any security interest or other lien or encumbrance of which the buyer
at the time of contracting has no knowledge. (2) A warranty under subsection (1) will be excluded
or modified only by specific language or by circumstances which give the buyer reason to know
that the person selling does not claim title in himself or that he is purporting to sell only
such right or title as he or a third person may have. (3) Unless otherwise agreed a seller
who is a merchant regularly dealing in goods of the kind warrants that the goods shall be
delivered free of the rightful claim of any third person by way of infringement or the like,
but a buyer who furnishes specifications to the seller must hold...
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7-9A-502
Section 7-9A-502 Contents of financing statement; record of mortgage as financing statement;
time of filing financing statement. (a) Sufficiency of financing statement. Subject to subsection
(b), a financing statement is sufficient only if it: (1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the secured party; and (3)
indicates the collateral covered by the financing statement. (b) Real-property-related financing
statements. Except as otherwise provided in Section 7-9A-501(b), to be sufficient, a financing
statement that covers as-extracted collateral or timber to be cut, or which is filed as a
fixture filing and covers goods that are or are to become fixtures, must satisfy subsection
(a) and also: (1) indicate that it covers this type of collateral; (2) indicate that it is
to be filed in the real property records; (3) provide a description of the real property to
which the collateral is related sufficient to give constructive...
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41-10-45.2
Section 41-10-45.2 Fund created; project obligations. (a) There is created the Accelerate Alabama
Fund, which may consist of monies appropriated or otherwise made available by the Legislature
in any manner, proceeds of project obligations issued by the authority, and monies from any
other source designated for deposit into such fund, but not including monies subject to a
constitutional designation for some other purpose. Unexpended amounts remaining in the fund
at the end of each fiscal year of the state shall not lapse into the State General Fund. Any
investment earnings or interest earned on amounts in the fund and all loan payments of principal
and/or interest shall be deposited to the credit of the fund. (b) In addition to the purposes
for which the authority may issue project obligations, the authority is hereby authorized
to issue project obligations to provide money for the fund. Project obligations shall be issued
as provided in Section 41-10-44.6, subject, however, to the...
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8-9B-4
Section 8-9B-4 Value. (a) Value is given for a transfer if, in exchange for the transfer, property
is transferred or an antecedent debt is secured or satisfied, but value does not include an
unperformed promise made otherwise than in the ordinary course of the promisor's business
to furnish support to the debtor or another person. (b) For the purposes of Section 8-9B-5
(a)(2) and Section 8-9B-6, a person gives a reasonably equivalent value if the person acquires
an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure
sale or execution of a power of sale for the acquisition or disposition of the interest of
the debtor upon default under a mortgage, deed of trust, or security agreement. (c) A transfer
is made for present value if the exchange between the debtor and the transferee is intended
by them to be contemporaneous and is in fact substantially contemporaneous. (Act 2018-163,
§1.)...
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10A-2A-1.40
Section 10A-2A-1.40 Chapter definitions. Notwithstanding Section 10A-1-1.03, as used in this
chapter, unless otherwise specified or unless the context otherwise requires, the following
terms have the following meanings: (1) AUTHORIZED STOCK means the stock of all classes and
series a corporation or foreign corporation is authorized to issue. (2) BENEFICIAL STOCKHOLDER
means a person who owns the beneficial interest in stock, which is either a record stockholder
or a person on whose behalf shares of stock are registered in the name of an intermediary
or nominee. (3) CERTIFICATE OF INCORPORATION means the certificate of incorporation described
in Section 10A-2A-2.02, all amendments to the certificate of incorporation, and any other
documents permitted or required to be delivered for filing by a corporation with the Secretary
of State under this chapter or Chapter 1 that modify, amend, supplement, restate, or replace
the certificate of incorporation. After an amendment of the certificate...
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32-20-23
Section 32-20-23 Application requirements. (a) The application for the certificate of title
of a manufactured home in this state shall be made by the owner to a designated agent, on
the form the department prescribes, and shall contain all of the following: (1) The name,
current residence, and mailing address of the owner. (2) A description of the manufactured
home including the following data: Year, make, model, manufactured home identification number,
and whether new or used. (3) The date of purchase by applicant, the name and address of the
person from whom the manufactured home was acquired, and the names and addresses of any lienholders
in the order of their priority and the dates of their security agreements. (4) Other information
that the department may require. (b) If the application is for a manufactured home purchased
from a dealer, it shall contain the name and address of any lienholder holding a security
interest created or reserved at the time of the sale and the date of...
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