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10A-9A-1.02
Section 10A-9A-1.02 Definitions. Notwithstanding Section 10A-1-1.03, as used in this chapter,
unless the context otherwise requires, the following terms mean: (1) "CERTIFICATE OF
FORMATION" with respect to a limited partnership means the certificate of formation required
by Section 10A-9A-2.01, and the certificate of formation as amended or restated. (2) "DISTRIBUTION"
except as otherwise provided in Section 10A-9A-5.08(f), means a transfer of money or other
property from a limited partnership to another person on account of a transferable interest.
(3) "FOREIGN LIMITED LIABILITY LIMITED PARTNERSHIP" means a foreign limited partnership
whose general partners have limited liability for the obligations of the foreign limited partnership
under a provision similar to Section 10A-9A-4.04(c). (4) "FOREIGN LIMITED PARTNERSHIP"
means a partnership formed under the laws of a jurisdiction other than this state and required
by those laws to have one or more general partners and one or more...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-1.02.htm - 4K - Match Info - Similar pages
45-8A-22.118
Section 45-8A-22.118 Maximum benefits; limitations; adjustments. (a) Annual Benefit and Final
Regulations Under Internal Revenue Code Section 415. (1) Annual Benefit. For purposes of this
section, "annual benefit" means the benefit payable annually under the terms of
the plan, exclusive of any benefit not required to be considered for purposes of applying
the limitations of Internal Revenue Code Section 415 to the plan, in the form of a straight
life annuity with no ancillary benefits. If the benefit is payable in any other form, the
annual benefit shall be adjusted to the equivalent of a straight life annuity pursuant to
subsection (c). (2) Final Regulations Under Internal Revenue Code Section 415. Notwithstanding
anything in this section to the contrary, the following provisions apply beginning on or after
January 1, 1976, except as otherwise provided in this section. a. Incorporation by Reference.
The limitations, adjustments, and other requirements prescribed in the plan shall...
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7-2A-303
Section 7-2A-303 Alienability of interests, transfer of rights, etc. (1) As used in this section,
"creation of a security interest" includes the sale of a lease contract that is
subject to Article 9A, Secured Transactions, by reason of Section 7-9A-109(a)(3). (2) Except
as provided in subsection (3) and Section 7-9A-407, a provision in a lease agreement which
(i) prohibits the voluntary or involuntary transfer, including a transfer by sale, sublease,
creation, or enforcement of a security interest, or attachment, levy, or other judicial process,
of an interest of a party under the lease contract or of the lessor's residual interest in
the goods, or (ii) makes such a transfer an event of default, gives rise to the rights and
remedies provided in subsection (4), but a transfer that is prohibited or is an event of default
under the lease agreement is otherwise effective. (3) A provision in a lease agreement which
(i) prohibits a transfer of a right to damages for default with respect to...
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7-3-203
Section 7-3-203 Transfer of instrument; rights acquired by transfer. (a) An instrument is transferred
when it is delivered by a person other than its issuer for the purpose of giving to the person
receiving delivery the right to enforce the instrument. (b) Transfer of an instrument, whether
or not the transfer is a negotiation, vests in the transferee any right of the transferor
to enforce the instrument, including any right as a holder in due course, but the transferee
cannot acquire rights of a holder in due course by a transfer, directly or indirectly, from
a holder in due course if the transferee engaged in fraud or illegality affecting the instrument.
(c) Unless otherwise agreed, if an instrument is transferred for value and the transferee
does not become a holder because of lack of indorsement by the transferor, the transferee
has a specifically enforceable right to the unqualified indorsement of the transferor, but
negotiation of the instrument does not occur until the...
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7-8-104
Section 7-8-104 Acquisition of security or financial asset or interest therein. (a) A person
acquires a security or an interest therein, under this article, if: (1) the person is a purchaser
to whom a security is delivered pursuant to Section 7-8-301; or (2) the person acquires a
security entitlement to the security pursuant to Section 7-8-501. (b) A person acquires a
financial asset, other than a security, or an interest therein, under this article, if the
person acquires a security entitlement to the financial asset. (c) A person who acquires a
security entitlement to a security or other financial asset has the rights specified in Part
5, but is a purchaser of any security, security entitlement, or other financial asset held
by the securities intermediary only to the extent provided in Section 7-8-503. (d) Unless
the context shows that a different meaning is intended, a person who is required by other
law, regulation, rule, or agreement to transfer, deliver, present, surrender,...
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7-9A-204
Section 7-9A-204 After-acquired property; future advances. (a) After-acquired collateral. Except
as otherwise provided in subsection (b), a security agreement may create or provide for a
security interest in after-acquired collateral. (b) When after-acquired property clause not
effective. A security interest does not attach under a term constituting an after-acquired
property clause to: (1) consumer goods, other than an accession when given as additional security,
unless the debtor acquires rights in them within 10 days after the secured party gives value;
or (2) a commercial tort claim. (c) Future advances and other value. A security agreement
may provide that collateral secures, or that accounts, chattel paper, payment intangibles,
or promissory notes are sold in connection with, future advances or other value, whether or
not the advances or value are given pursuant to commitment. (Act 2001-481, p. 647, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-204.htm - 1K - Match Info - Similar pages
10A-9A-7.02
Section 10A-9A-7.02 Transfer of partner's transferable interest. (a) A transfer, in whole or
in part, of a partner's transferable interest: (1) is permissible; (2) does not by itself
cause the partner's dissociation; (3) does not by itself cause a dissolution and winding up
of the limited partnership; and (4) subject to Section 10A-9A-7.04, does not entitle the transferee
to: (A) participate in the management or conduct of the limited partnership's activities and
affairs; or (B) except as otherwise provided in subsection (d), have access to required information,
records, or other information concerning the partnership's activities and affairs. (b) A transferee
has the right to receive, in accordance with the transfer, distributions to which the transferor
would otherwise be entitled. (c) A transferable interest may be evidenced by a certificate
of transferable interest issued by the limited partnership. A partnership agreement may provide
for the transfer of the transferable interest...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-7.02.htm - 2K - Match Info - Similar pages
7-8-510
Section 7-8-510 Rights of purchaser of security entitlement from entitlement holder. (a) In
a case not covered by the priority rules in Article 9A or the rules stated in subsection (c),
an action based on an adverse claim to a financial asset or security entitlement, whether
framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not
be asserted against a person who purchases a security entitlement, or an interest therein,
from an entitlement holder if the purchaser gives value, does not have notice of the adverse
claim, and obtains control. (b) If an adverse claim could not have been asserted against an
entitlement holder under Section 7-8-502, the adverse claim cannot be asserted against a person
who purchases a security entitlement, or an interest therein, from the entitlement holder.
(c) In a case not covered by the priority rules in Article 9A, a purchaser for value of a
security entitlement, or an interest therein, who obtains control has priority...
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7-9A-406
Section 7-9A-406 Discharge of account debtor; notification of assignment; identification and
proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles,
and promissory notes ineffective. (a) Discharge of account debtor; effect of notification.
Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or
a payment intangible may discharge its obligation by paying the assignor until, but not after,
the account debtor receives a notification, authenticated by the assignor or the assignee,
that the amount due or to become due has been assigned and that payment is to be made to the
assignee. After receipt of the notification, the account debtor may discharge its obligation
by paying the assignee and may not discharge the obligation by paying the assignor. (b) When
notification ineffective. Subject to subsection (h), notification is ineffective under subsection
(a): (1) if it does not reasonably identify the rights assigned;...
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40-12-260
Section 40-12-260 Transfer of license plates; registration procedures; receipts; penalty. (a)
Effective January 1, 1998, license plates, except for license plates issued under the provisions
of Section 40-12-290, et seq., or any subsequent enactment which authorizes special license
plates based on vehicle age, shall not be transferable between motor vehicle owners and the
following registration procedures shall apply: (1) When a current and valid Alabama motor
vehicle license plate has been obtained for the current tax year for use on a motor vehicle
and the vehicle has been sold or otherwise transferred to a new owner, the license plate shall
be removed from the vehicle and retained by the original plate owner. (2) In the event an
owner purchases, trades, exchanges, or otherwise acquires another vehicle of the same license
registration classification, the licensing official shall authorize the transfer of the current
and valid Alabama license plate previously obtained by the owner to...
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