45-6-242
against gross sales or gross receipts, as the case may be, as follows: (1) Upon every person,
firm, or corporation (including the state, the University of Alabama, Auburn University, and
all other institutions of higher learning in the state, whether such institutions be denominational,
state, county, or municipal institutions, any association or other agency or instrumentality
of such institutions) engaged or continuing within the county in the business of selling at
retail any tangible personal property whatsoever, including merchandise and commodities
of every kind and character (not including, however, bonds or other evidences of debts or
stock, nor sales of material and supplies to any person for use in fulfilling a contract for
the painting, repair or reconditioning of vessels, ships, and other watercraft of over 50
tons burden) an amount of one percent of the gross proceeds of sales of the business, except
where a different amount is expressly provided herein; provided,...
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8-20-4
carriers. q. To offer any refunds or other types of inducements to any person for the purchase
of new motor vehicles of a certain line make to be sold to the state or any political subdivision
thereof without making the same offer to all other new motor vehicle dealers in the same line
make within the state. r. To release to any outside party, except under subpoena, or as otherwise
required by law or in an administrative, judicial, or arbitration proceeding, any business,
financial, or personal information which may be from time to time provided by the dealer
to the manufacturer, without the express written consent of the dealer. s. To own an interest
in a new motor vehicle dealership, to operate or control a dealership, to make direct sales
or leases of new motor vehicles to the public in Alabama, or to own, operate, or control a
facility for performance of motor vehicle warranty or repair service work, except as follows:
1. The manufacturer or distributor is owning or operating...
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5-17-8
Section 5-17-8 Reports to Administrator of Alabama Credit Union Administration; powers of administrator.
(a) Credit unions shall report to the Administrator of the Alabama Credit Union Administration
at least annually on or before January 31 in such manner and form as required by the administrator
for that purpose. Additional reports may be required. Credit unions shall be examined at least
every 18 months by employees of the administration or by other persons designated by the administrator.
For failure to file reports when due, unless excused for cause by the administrator, the credit
union shall pay to the State Treasurer five dollars ($5) for each day of its delinquency.
(b) If the administrator determines that the credit union is violating this chapter, or is
insolvent, the administrator may suspend operations of the credit union by issuing an order
requiring that the credit union cease operations pending a hearing on the revocation of the
certificate of approval, or the...
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7-9A-209
Section 7-9A-209 Duties of secured party if account debtor has been notified of assignment.
(a) Applicability of section. Except as otherwise provided in subsection (c), this section
applies if: (1) there is no outstanding secured obligation; and (2) the secured party is not
committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured
party after receiving demand from debtor. Within 10 days after receiving an authenticated
demand by the debtor, a secured party shall send to an account debtor that has received notification
of an assignment to the secured party as assignee under Section 7-9A-406(a) an authenticated
record that releases the account debtor from any further obligation to the secured party.
(c) Inapplicability to sales. This section does not apply to an assignment constituting the
sale of an account, chattel paper, or payment intangible. (d) Authenticated demand. In this
section, "authenticated demand" means a record authenticated by the...
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7-9A-503
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 collateral is held in a trust that is not a registered organization,
only if the financing statement: (A) provides, as the name of the debtor: (i) if the organic
record of the trust specifies a name for the trust, the name so...
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7-9A-402
Section 7-9A-402 Secured party not obligated on contract of debtor or in tort. The existence
of a security interest, agricultural lien, or authority given to a debtor to dispose of or
use collateral, without more, does not subject a secured party to liability in contract or
tort for the debtor's acts or omissions. (Act 2001-481, p. 647, §1.)...
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7-9A-313
Section 7-9A-313 When possession by or delivery to secured party perfects security interest
without filing. (a) Perfection by possession or delivery. Except as otherwise provided in
subsection (b), a secured party may perfect a security interest in tangible negotiable documents,
goods, instruments, money, or tangible chattel paper by taking possession of the collateral.
A secured party may perfect a security interest in certificated securities by taking delivery
of the certificated securities under Section 7-8-301. (b) Goods covered by certificate of
title. With respect to goods covered by a certificate of title issued by this State, a secured
party may perfect a security interest in the goods by taking possession of the goods only
in the circumstances described in Section 7-9A-316(d). (c) Collateral in possession of person
other than debtor. With respect to collateral other than certificated securities and goods
covered by a document, a secured party takes possession of collateral in...
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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-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.)...
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7-9A-208
Section 7-9A-208 Additional duties of secured party having control of collateral. (a) Applicability
of section. This section applies to cases in which there is no outstanding secured obligation
and the secured party is not committed to make advances, incur obligations, or otherwise give
value. (b) Duties of secured party after receiving demand from debtor. Within 10 days after
receiving an authenticated demand by the debtor: (1) a secured party having control of a deposit
account under Section 7-9A-104(a)(2) shall send to the bank with which the deposit account
is maintained an authenticated statement that releases the bank from any further obligation
to comply with instructions originated by the secured party; (2) a secured party having control
of a deposit account under Section 7-9A-104(a)(3) shall: (A) pay the debtor the balance on
deposit in the deposit account; or (B) transfer the balance on deposit into a deposit account
in the debtor's name; (3) a secured party, other than a...
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