7-9-504
Section 7-9-504 Secured party's right to dispose of collateral after default; effect of disposition.
Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002. (Acts 1965, No. 549, p.
811; Acts 1981, No. 81-312, p. 399.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9-504.htm - 533 bytes - Match Info - Similar pages

7-9A-202
Section 7-9A-202 Title to collateral immaterial. Except as otherwise provided with respect
to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes,
the provisions of this article with regard to rights and obligations apply whether title to
collateral is in the secured party or the debtor. (Act 2001-481, p. 647, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-202.htm - 662 bytes - Match Info - Similar pages

7-9A-628
Section 7-9A-628 Nonliability and limitation on liability of secured party; liability of secondary
obligor. (a) Limitation of liability of secured party for noncompliance with article. Unless
a secured party knows that a person is a debtor or obligor, knows the identity of the person,
and knows how to communicate with the person: (1) the secured party is not liable to the person,
or to a secured party or lienholder that has filed a financing statement against the person,
for failure to comply with this article; and (2) the secured party's failure to comply with
this article does not affect the liability of the person for a deficiency. (b) Limitation
of liability based on status as secured party. A secured party is not liable because of its
status as secured party: (1) to a person that is a debtor or obligor, unless the secured party
knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C)
how to communicate with the person; or (2) to a secured party or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-628.htm - 2K - Match Info - Similar pages

7-9A-314
Section 7-9A-314 Perfection by control. (a) Perfection by control. A security interest in investment
property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic
documents may be perfected by control of the collateral under Section 7-7-106, 7-9A-104, 7-9A-105,
7-9A-106, or 7-9A-107. (b) Specified collateral: Time of perfection by control; continuation
of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit
rights, or electronic documents is perfected by control under Section 7-7-106, 7-9A-104, 7-9A-105,
or 7-9A-107 when the secured party obtains control and remains perfected by control only while
the secured party retains control. (c) Investment property: Time of perfection by control;
continuation of perfection. A security interest in investment property is perfected by control
under Section 7-9A-106 from the time the secured party obtains control and remains perfected
by control until: (1) the secured party...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-314.htm - 1K - Match Info - Similar pages

7-9A-103
Section 7-9A-103 Purchase-money security interest; application of payments; burden of establishing.
(a) Definitions. In this section: (1) "purchase-money collateral" means goods or
software that secures a purchase-money obligation incurred with respect to that collateral;
and (2) "purchase-money obligation" means an obligation of an obligor incurred as
all or part of the price of the collateral or for value given to enable the debtor to acquire
rights in or the use of the collateral if the value is in fact so used. (b) Purchase-money
security interest in goods. A security interest in goods is a purchase-money security interest:
(1) to the extent that the goods are purchase-money collateral with respect to that security
interest; (2) if the security interest is in inventory that is or was purchase-money collateral,
also to the extent that the security interest secures a purchase-money obligation incurred
with respect to other inventory in which the secured party holds or held a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-103.htm - 4K - Match Info - Similar pages

7-9A-521
USE ONLY 1. DEBTOR'S NAME: Provide only one Debtor name (1a or 1b) (use exact, full name; do
not omit, modify, or abbreviate any part of the Debtor's name); if any part of the Individual
Debtor's name will not fit in line 1b, leave all of item 1 blank, check here [ ] and provide
the Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCC1Ad)
1a. ORGANIZATION'S NAME ___ OR 1b. INDIVIDUAL'S SURNAME ___ FIRST PERSONAL NAME ___
ADDITIONAL NAME(S)/INITIAL(S) ___ SUFFIX ___ 1c. MAILING ADDRESS ___ CITY ___ STATE ___ POSTAL
CODE ___ COUNTRY ___ 2. DEBTOR'S NAME: Provide only one Debtor name (2a or 2b) (use exact,
full name; do not omit, modify, or abbreviate any part of the Debtor's name); if any part
of the Individual Debtor's name will not fit in line 2b, leave all of item 2 blank, check
here [ ] and provide the Individual Debtor...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-521.htm - 11K - Match Info - Similar pages

7-9A-340
Section 7-9A-340 Effectiveness of right of recoupment or set-off against deposit account. (a)
Exercise of recoupment or set-off. Except as otherwise provided in subsection (c), a bank
with which a deposit account is maintained may exercise any right of recoupment or set-off
against a secured party that holds a security interest in the deposit account. (b) Recoupment
or set-off not affected by security interest. Except as otherwise provided in subsection (c),
the application of this article to a security interest in a deposit account does not affect
a right of recoupment or set-off of the secured party as to a deposit account maintained with
the secured party. (c) When set-off ineffective. The exercise by a bank of a set-off against
a deposit account is ineffective against a secured party that holds a security interest in
the deposit account which is perfected by control under Section 7-9A-104(a)(3), if the set-off
is based on a claim against the debtor. (Act 2001-481, p. 647, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-340.htm - 1K - Match Info - Similar pages

7-9A-603
Section 7-9A-603 Agreement on standards concerning rights and duties. (a) Agreed standards.
The parties may determine by agreement the standards measuring the fulfillment of the rights
of a debtor or obligor and the duties of a secured party under a rule stated in Section 7-9A-602
if the standards are not manifestly unreasonable. (b) Agreed standards inapplicable to breach
of peace. Subsection (a) does not apply to the duty under Section 7-9A-609 to refrain from
breaching the peace. (Act 2001-481, p. 647, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-603.htm - 832 bytes - Match Info - Similar pages

7-9A-404
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 debtor owes. (c) Rule
for individual under other law. This section is subject to law other than this article which
establishes a different rule for an account debtor who is an individual and who incurred the
obligation primarily for personal, family, or household purposes. (d) Omission of required
statement in consumer transaction. In a consumer transaction, if a record evidences the account
debtor's obligation, if law other than this article requires that the record include a statement
to the effect that the account debtor's recovery against an assignee with respect to claims
and defenses against the assignor may not exceed amounts paid by the account debtor under
the record, and if the record does not include such a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-404.htm - 2K - Match Info - Similar pages

7-8-112
Section 7-8-112 Creditor's legal process. (a) The interest of a debtor in a certificated security
may be reached by a creditor only by actual seizure of the security certificate by the officer
making the attachment or levy, except as otherwise provided in subsection (d). However, a
certificated security for which the certificate has been surrendered to the issuer may be
reached by a creditor by legal process upon the issuer. (b) The interest of a debtor in an
uncertificated security may be reached by a creditor only by legal process upon the issuer
at its chief executive office in the United States, except as otherwise provided in subsection
(d). (c) The interest of a debtor in a security entitlement may be reached by a creditor only
by legal process upon the securities intermediary with whom the debtor's securities account
is maintained, except as otherwise provided in subsection (d). (d) The interest of a debtor
in a certificated security for which the certificate is in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-8-112.htm - 2K - Match Info - Similar pages