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33-5A-8
Section 33-5A-8 Right of redemption. (a) Where a vessel, or an interest in a vessel, is sold
under this chapter, the vessel may be redeemed by any of the following: (1) The debtor, including
any surety or guarantor. (2) A judgment creditor, or its transferee. (3) A transferee of the
interests of the debtor, either before or after the sale. A transfer of any kind made by the
debtor will accomplish a transfer of the interests of that party. (4) The spouse of a debtor,
or transferee of any interest of the debtor, who is a spouse on the day of the execution,
judgment, or foreclosure sale. (5) Children, heirs, or devisees of the debtor. (b) All persons
named or enumerated in subdivisions (a) (1) through (a) (5) may exercise the right of redemption
granted by this section within 90 days from the date of the sale. (c) (1) When any judgment
creditor or any transferee of a judgment creditor redeems under this section, all recorded
judgments, and recorded liens having a higher recorded priority...
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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...
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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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7-9A-311
Section 7-9A-311 Perfection of security interests in property subject to certain statutes,
regulations, and treaties. (a) Security interest subject to other law. Except as otherwise
provided in subsection (d), the filing of a financing statement is not necessary or effective
to perfect a security interest in property subject to: (1) a statute, regulation, or treaty
of the United States whose requirements for a security interest's obtaining priority over
the rights of a lien creditor with respect to the property preempt Section 7-9A-310(a); (2)
Chapter 8 or Chapter 20 of Title 32 or another statute of this state which provides for a
security interest to be indicated on a certificate of title as a condition or result of the
security interest's obtaining priority over the rights of a lien creditor with respect to
the collateral, or any central filing system created by another statute of this state governing
perfection of a security interest in collateral that is subject to this article;...
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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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35-8A-304
Section 35-8A-304 Transfer of special declarant rights. (a) No special declarant right specified
in Section 35-8A-103(24) created or reserved under this chapter may be transferred except
by an instrument evidencing the transfer recorded in every county in which any portion of
the condominium is located. The instrument is not effective unless executed by the transferor
and the transferee in the same formality as a conveyance of real property. (b) Upon transfer
of any special declarant right, the liability of a transferor declarant is as follows: (1)
A transferor is not relieved of any obligation or liability arising before the transfer and
remains liable for warranty obligations imposed upon him or her by this chapter. Lack of privity
does not deprive any unit owner of standing to maintain an action to enforce any obligation
of the transferor. (2) If a successor to any special declarant right is an affiliate of a
declarant specified in Section 35-8A-103(1), the transferor is jointly and...
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40-9B-4
Section 40-9B-4 Authorization of abatement. (a) Noneducational ad valorem taxes, construction
related transaction taxes, except those local construction related transaction taxes levied
for educational purposes or for capital improvements for education, and mortgage and recording
taxes, or payments required to be made in lieu thereof, and in the case of a qualifying industrial
or research enterprise described in Section 40-9B-3(a)(10)e. which is owned by an entity organized
under Chapter 6 of Title 37, or by an authority both organized and existing pursuant to Chapter
50A of Title 11, and subject to the payments required to be made in lieu of ad valorem, sales,
use, license, and severance taxes imposed by Section 11-50A-7, in addition to the foregoing,
all other ad valorem taxes, or payments required to be made in lieu thereof, imposed by the
state, counties, municipalities, and other taxing jurisdictions of Alabama, may be abated
with respect to private use industrial property and...
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40-7-25.1
Section 40-7-25.1 Current use value of Class III property - Definition; appraisal of property
at request of owner; legislative intent; applicability of section; method of valuation; factors
considered in appraisal; rules and regulations of Department of Revenue; hearing objections.
(a) For ad valorem tax years beginning on and after October 1, 1978, with respect to taxable
property defined in Section 40-8-1, as amended, as Class III property and upon request by
the owner of such property as hereinafter provided, the assessor shall base his appraisal
of the value of such property on its current use on October 1 in any taxable year and not
on its fair and reasonable market value. Failure of an owner of Class III property to request
appraisal at current use value shall mean that the property shall be valued on its fair and
reasonable market value as otherwise provided in this title until such time as the owner thereof
shall request valuation on the basis of current use value. As used in...
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40-9B-3
Section 40-9B-3 Definitions. (a) For purposes of this chapter, the following words and phrases
mean: (1) ABATE, ABATEMENT. A reduction or elimination of a taxpayer's liability for tax or
payments required to be made in lieu thereof. An abatement of transaction taxes imposed under
Chapter 23 of this title, or payments required to be made in lieu thereof, shall relieve the
seller from the obligation to collect and pay over the transaction tax as if the sale were
to a person exempt, to the extent of the abatement, from the transaction tax. (2) ALTERNATIVE
ENERGY RESOURCES. The definition given in Section 40-18-1. (3) CONSTRUCTION RELATED TRANSACTION
TAXES. The transaction taxes imposed by Chapter 23 of this title, or payments required to
be made in lieu thereof, on tangible personal property and taxable services incorporated into
an industrial development property, the cost of which may be added to capital account with
respect to the property, determined without regard to any rule which...
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8-9A-3
Section 8-9A-3 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 to furnish support to the debtor or another person made otherwise than
in the ordinary course of the promisor's business. (b) For the purposes of subsection (c)
of Section 8-9A-4 and subsection (a) of Section 8-9A-5, 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. (Acts 1989, No. 89-793, p. 1585, §3.)...
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