7-9A-203
Section 7-9A-203 Attachment and enforceability of security interest; proceeds; supporting obligations;
formal requisites. (a) Attachment. A security interest attaches to collateral when it becomes
enforceable against the debtor with respect to the collateral, unless an agreement expressly
postpones the time of attachment. (b) Enforceability. Except as otherwise provided in subsections
(c) through (i), a security interest is enforceable against the debtor and third parties with
respect to the collateral only if: (1) value has been given; (2) the debtor has rights in
the collateral or the power to transfer rights in the collateral to a secured party; and (3)
one of the following conditions is met: (A) the debtor has authenticated a security agreement
that provides a description of the collateral and, if the security interest covers timber
to be cut, a description of the land concerned; (B) the collateral is not a certificated security
and is in the possession of the secured party under...
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7-9A-102
Section 7-9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this
article: (1) "Accession" means goods that are physically united with other goods
in such a manner that the identity of the original goods is not lost. (2) "Account,"
except as used in "account for," means a right to payment of a monetary obligation,
whether or not earned by performance, (i) for property that has been or is to be sold, leased,
licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered,
(iii) for a policy of insurance issued or to be issued, (iv) for a secondary obligation incurred
or to be incurred, (v) for energy provided or to be provided, (vi) for the use or hire of
a vessel under a charter or other contract, (vii) arising out of the use of a credit or charge
card or information contained on or for use with the card, or (viii) as winnings in a lottery
or other game of chance operated or sponsored by a State, governmental unit of a State, or...

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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-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-509
Section 7-9A-509 Persons entitled to file a record. (a) Person entitled to file record. A person
may file an initial financing statement, amendment that adds collateral covered by a financing
statement, or amendment that adds a debtor to a financing statement only if: (1) the debtor
authorizes the filing in an authenticated record or pursuant to subsection (b) or (c); or
(2) the person holds an agricultural lien that has become effective at the time of filing
and the financing statement covers only collateral in which the person holds an agricultural
lien. (b) Security agreement as authorization. By authenticating or becoming bound as debtor
by a security agreement, a debtor or new debtor authorizes the filing of an initial financing
statement, and an amendment, covering: (1) the collateral described in the security agreement;
and (2) property that becomes collateral under Section 7-9A-315(a)(2), whether or not the
security agreement expressly covers proceeds. (c) Acquisition of...
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7-9-302
Section 7-9-302 When filing is required to perfect security interest; security interests to
which filing provisions of this article do not apply. THIS SECTION WAS REPEALED IN THE 2001
REGULAR SESSION, BY ACT 2001-481, EFFECTIVE JAN. 1, 2002. (1) A financing statement must be
filed to perfect all security interests except the following: (a) A security interest in collateral
in possession of the secured party under Section 7-9-305; (b) A security interest temporarily
perfected in instruments, certificated securities, or documents without delivery under Section
7-9-304 or in proceeds for a 20-day period under Section 7-9-306; (c) A security interest
created by an assignment of a beneficial interest in a trust or a decedent's estate; (d) A
purchase money security interest in consumer goods; but filing is required for a motor vehicle
required to be registered; and fixture filing is required for priority over conflicting interests
in fixtures to the extent provided in Section 7-9-313; (e) An...
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40-2A-7
Section 40-2A-7 Uniform revenue procedures. (a) Maintenance of records; audit and subpoena
authority; authority to issue regulations. (1) In addition to all other recordkeeping requirements
otherwise set out in this title, taxpayers shall keep and maintain an accurate and complete
set of records, books, and other information sufficient to allow the department to determine
the correct amount of value or correct amount of any tax, license, permit, or fee administered
by the department, or other records or information as may be necessary for the proper administration
of any matters under the jurisdiction of the department. The books, records, and other information
shall be open and available for inspection by the department upon request at a reasonable
time and location. (2) The department may examine and audit the records, books, or other relevant
information maintained by any taxpayer or other person for the purpose of computing and determining
the correct amount of value or correct...
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7-9A-317
Section 7-9A-317 Interests that take priority over or take free of security interest or agricultural
lien. (a) Conflicting security interests and rights of lien creditors. A security interest
or agricultural lien is subordinate to the rights of: (1) a person entitled to priority under
Section 7-9A-322; and (2) except as otherwise provided in subsection (e), a person that becomes
a lien creditor before the earlier of the time: (A) the security interest or agricultural
lien is perfected; or (B) one of the conditions specified in Section 7-9A-203(b)(3) is met
and a financing statement covering the collateral is filed. (b) Buyers that receive delivery.
Except as otherwise provided in subsection (e), a buyer, other than a secured party, of tangible
chattel paper, tangible documents, goods, instruments, or a certificated security takes free
of a security interest or agricultural lien if the buyer gives value and receives delivery
of the collateral without knowledge of the security interest...
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8-9A-1
Section 8-9A-1 Definitions. As used in this chapter: (1) AFFILIATE. a. A person who directly
or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding
voting securities of the debtor, other than a person who holds the securities, 1. As a fiduciary
or agent without sole discretionary power to vote the securities; or 2. Solely to secure a
debt, if the person has not exercised the power to vote; b. A corporation 20 percent or more
of whose outstanding voting securities are directly or indirectly owned, controlled, or held
with power to vote, by the debtor or a person who directly or indirectly owns, controls, or
holds, with power to vote, 20 percent or more of the outstanding voting securities of the
debtor, other than a person who holds the securities, 1. As a fiduciary or agent without sole
power to vote the securities; or 2. Solely to secure a debt, if the person has not in fact
exercised the power to vote; c. A person whose business is operated...
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8-9B-2
Section 8-9B-2 Definitions. As used in this chapter: (1) "Affiliate" means: (i) a
person that directly or indirectly owns, controls, or holds with power to vote, 20 percent
or more of the outstanding voting securities of the debtor, other than a person that holds
the securities: (A) as a fiduciary or agent without sole discretionary power to vote the securities;
or (B) solely to secure a debt, if the person has not in fact exercised the power to vote;
(ii) a corporation 20 percent or more of whose outstanding voting securities are directly
or indirectly owned, controlled, or held, with power to vote, by the debtor or a person that
directly or indirectly owns, controls, or holds, with power to vote, 20 percent or more of
the outstanding voting securities of the debtor, other than a person that holds the securities:
(A) as a fiduciary or agent without sole discretionary power to vote the securities; or (B)
solely to secure a debt, if the person has not in fact exercised the power to...
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