7-9A-336
Section 7-9A-336 Commingled goods. (a) "Commingled goods." In this section, "commingled
goods" means goods that are physically united with other goods in such a manner that
their identity is lost in a product or mass. (b) No security interest in commingled goods
as such. A security interest does not exist in commingled goods as such. However, a security
interest may attach to a product or mass that results when goods become commingled goods.
(c) Attachment of security interest to product or mass. If collateral becomes commingled goods,
a security interest attaches to the product or mass. (d) Perfection of security interest.
If a security interest in collateral is perfected before the collateral becomes commingled
goods, the security interest that attaches to the product or mass under subsection (c) is
perfected. (e) Priority of security interest. Except as otherwise provided in subsection (f),
the other provisions of this part determine the priority of a security interest that attaches...

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7-5-118
Section 7-5-118 Security interest of issuer or nominated person. (a) An issuer or nominated
person has a security interest in a document presented under a letter of credit to the extent
that the issuer or nominated person honors or gives value for the presentation. (b) So long
as and to the extent that an issuer or nominated person has not been reimbursed or has not
otherwise recovered the value given with respect to a security interest in a document under
subsection (a), the security interest continues and is subject to Article 9A, but: (1) a security
agreement is not necessary to make the security interest enforceable under Section 7-9A-203(b)(3);
(2) if the document is presented in a medium other than a written or other tangible medium,
the security interest is perfected; and (3) if the document is presented in a written or other
tangible medium and is not a certificated security, chattel paper, a document of title, an
instrument, or a letter of credit, the security interest is...
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7-8-503
Section 7-8-503 Property interest of entitlement holder in financial asset held by securities
intermediary. (a) To the extent necessary for a securities intermediary to satisfy all security
entitlements with respect to a particular financial asset, all interests in that financial
asset held by the securities intermediary are held by the securities intermediary for the
entitlement holders, are not property of the securities intermediary, and are not subject
to claims of creditors of the securities intermediary, except as otherwise provided in Section
7-8-511. (b) An entitlement holder's property interest with respect to a particular financial
asset under subsection (a) is a pro rata property interest in all interests in that financial
asset held by the securities intermediary, without regard to the time the entitlement holder
acquired the security entitlement or the time the securities intermediary acquired the interest
in that financial asset. (c) An entitlement holder's property...
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7-9A-312
Section 7-9A-312 Perfection of certain security interests by filing; temporary perfection.
(a) Perfection by filing permitted. A security interest in chattel paper, negotiable documents,
instruments, or investment property may be perfected by filing. (b) Control or possession
of certain collateral. Except as otherwise provided in Section 7-9A-315(c) and (d) for proceeds:
(1) a security interest in a deposit account may be perfected only by control under Section
7-9A-314; (2) and except as otherwise provided in Section 7-9A-308(d), a security interest
in a letter-of-credit right may be perfected only by control under Section 7-9A-314; and (3)
a security interest in money may be perfected only by the secured party's taking possession
under Section 7-9A-313. (c) Goods covered by negotiable document. While goods are in the possession
of a bailee that has issued a negotiable document covering the goods: (1) a security interest
in the goods may be perfected by perfecting a security interest...
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7-9A-316
Section 7-9A-316 Effect of change in governing law. (a) General rule: Effect on perfection
of change in governing law. A security interest perfected pursuant to the law of the jurisdiction
designated in Section 7-9A-301(1) or 7-9A-305(c) remains perfected until the earliest of:
(1) the time perfection would have ceased under the law of that jurisdiction; (2) the expiration
of four months after a change of the debtor's location to another jurisdiction; or (3) the
expiration of one year after a transfer of collateral to a person that thereby becomes a debtor
and is located in another jurisdiction. (b) Security interest perfected or unperfected under
law of new jurisdiction. If a security interest described in subsection (a) becomes perfected
under the law of the other jurisdiction before the earliest time or event described in that
subsection, it remains perfected thereafter. If the security interest does not become perfected
under the law of the other jurisdiction before the earliest...
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7-9A-309
Section 7-9A-309 Security interest perfected upon attachment. The following security interests
are perfected when they attach: (1) a purchase-money security interest in consumer goods,
except as otherwise provided in Section 7-9A-311(b) with respect to consumer goods that are
subject to a statute or treaty described in Section 7-9A-311(a); (2) an assignment of accounts
or payment intangibles which does not by itself or in conjunction with other assignments to
the same assignee transfer a significant part of the assignor's outstanding accounts or payment
intangibles; (3) a sale of a payment intangible; (4) a sale of a promissory note; (5) a security
interest created by the assignment of a health-care-insurance receivable to the provider of
the health-care goods or services; (6) a security interest arising under Section 7-2-401,
7-2-505, 7-2-711(3), or 7-2A-508(5), until the debtor obtains possession of the collateral;
(7) a security interest of a collecting bank arising under Section...
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7-4-210
Section 7-4-210 Security interest of collecting bank in items, accompanying documents, and
proceeds. (a) A collecting bank has a security interest in an item and any accompanying documents
or the proceeds of either: (1) In case of an item deposited in an account, to the extent to
which credit given for the item has been withdrawn or applied; (2) In case of an item for
which it has given credit available for withdrawal as of right, to the extent of the credit
given, whether or not the credit is drawn upon or there is a right of charge-back; or (3)
If it makes an advance on or against the item. (b) If credit given for several items received
at one time or pursuant to a single agreement is withdrawn or applied in part, the security
interest remains upon all the items, any accompanying documents or the proceeds of either.
For the purpose of this section, credits first given are first withdrawn. (c) Receipt by a
collecting bank of a final settlement for an item is a realization on its...
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7-2A-309
Section 7-2A-309 Lessor's and lessee's rights when goods become fixtures. (1) In this section:
(a) goods are "fixtures" when they become so related to particular real estate that
an interest in them arises under real estate law; (b) a "fixture filing" is the
filing, in the office where a record of a mortgage on the real estate would be filed or recorded,
of a financing statement covering goods that are or are to become fixtures and conforming
to the requirements of Section 7-9A-502(a) and (b); (c) a lease is a "purchase money
lease" unless the lessee has possession or use of the goods or the right to possession
or use of the goods before the lease agreement is enforceable; (d) a mortgage is a "construction
mortgage" to the extent it secures an obligation incurred for the construction of an
improvement on land including the acquisition cost of the land, if the recorded writing so
indicates; and (e) "encumbrance" includes real estate mortgages and other liens
on real estate and all other...
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7-9A-320
Section 7-9A-320 Buyer of goods; Alabama Farmers Credit Protection Fund. (a) Buyer in ordinary
course of business. Except as otherwise provided in subsection (e), a buyer in ordinary course
of business, other than a person buying farm products from a person engaged in farming operations,
takes free of a security interest created by the buyer's seller, even if the security interest
is perfected and the buyer knows of its existence. (b) Buyer of consumer goods. Except as
otherwise provided in subsection (e), a buyer of goods from a person who used or bought the
goods for use primarily for personal, family, or household purposes takes free of a security
interest, even if perfected, if the buyer buys: (1) without knowledge of the security interest;
(2) for value; (3) primarily for the buyer's personal, family, or household purposes; and
(4) before the filing of a financing statement covering the goods. (c) Effectiveness of filing
for subsection (b). To the extent that it affects the...
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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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