7-9A-614
Section 7-9A-614 Contents and form of notification before disposition of collateral: Consumer-goods
transaction. In a consumer-goods transaction, the following rules apply: (1) A notification
of disposition must provide the following information: (A) the information specified in Section
7-9A-613(1); (B) a description of any liability for a deficiency of the person to which the
notification is sent; (C) a telephone number from which the amount that must be paid to the
secured party to redeem the collateral under Section 7-9A-623 is available; and (D) a telephone
number or mailing address from which additional information concerning the disposition and
the obligation secured is available. (2) A particular phrasing of the notification is not
required. (3) The following form of notification, when completed, provides sufficient information:
Name and address of secured party Date NOTICE OF OUR PLAN TO SELL PROPERTY Name and address
of any obligor who is also a debtor Subject: ___...
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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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7-9A-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...
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7-9A-310
Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security
interests and agricultural liens to which filing provisions do not apply. (a) General rule:
Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b),
a financing statement must be filed to perfect all security interests and agricultural liens.
(b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary
to perfect a security interest: (1) that is perfected under Section 7-9A-308(d), (e), (f),
or (g); (2) that is perfected under Section 7-9A-309 when it attaches; (3) in property subject
to a statute, regulation, or treaty described in Section 7-9A-311(a); (4) in goods in possession
of a bailee which is perfected under Section 7-9A-312(d)(1) or (2); (5) in certificated securities,
documents, goods, or instruments which is perfected without filing, control, or possession
under Section 7-9A-312(e), (f), or (g); (6) in collateral...
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7-9A-335
Section 7-9A-335 Accessions. (a) Creation of security interest in accession. A security interest
may be created in an accession and continues in collateral that becomes an accession. (b)
Perfection of security interest. If a security interest is perfected when the collateral becomes
an accession, the security interest remains perfected in the collateral. (c) Priority of security
interest. Except as otherwise provided in subsection (d), the other provisions of this part
determine the priority of a security interest in an accession. (d) Compliance with certificate-of-title
statute. A security interest in an accession is subordinate to a security interest in the
whole which is perfected by compliance with the requirements of a certificate-of-title statute
under Section 7-9A-311(b). (e) Removal of accession after default. After default, subject
to Part 6, a secured party may remove an accession from other goods if the security interest
in the accession has priority over the claims of every...
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8-9B-3
Section 8-9B-3 Insolvency. (a) A debtor is insolvent if the sum of the debtor's debts at a
fair valuation is greater than the sum of the debtor's assets at a fair valuation. (b) A debtor
that is generally not paying the debtor's debts as they become due other than as a result
of a bona fide dispute is presumed to be insolvent. The presumption imposes on the party against
which the presumption is directed the burden of proving that the nonexistence of insolvency
is more probable than its existence. (c) Assets under this section do not include property
that has been transferred, concealed, or removed with intent to hinder, delay, or defraud
creditors or that has been transferred in a manner making the transfer voidable under this
chapter. (d) Debts under this section do not include an obligation to the extent it is secured
by a valid lien on property of the debtor not included as an asset. (Act 2018-163, §1.)...

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7-2-210
Section 7-2-210 Delegation of performance; assignment of rights. (1) A party may perform his
duty through a delegate unless otherwise agreed or unless the other party has a substantial
interest in having his original promisor perform or control the acts required by the contract.
No delegation of performance relieves the party delegating of any duty to perform or any liability
for breach. (2) Except as otherwise provided in Section 7-9A-406, unless otherwise agreed,
all rights of either seller or buyer can be assigned except where the assignment would materially
change the duty of the other party, or increase materially the burden or risk imposed on him
by his contract, or impair materially his chance of obtaining return performance. A right
to damages for breach of the whole contract or a right arising out of the assignor's due performance
of his entire obligation can be assigned despite agreement otherwise. (3) The creation, attachment,
perfection, or enforcement of a security...
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7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables,
and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective.
Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement
between an account debtor and a debtor which relates to a health-care-insurance receivable
or a general intangible, including a contract, permit, license, or franchise, and which term
prohibits, restricts, or requires the consent of the person obligated on the promissory note
or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection
of a security interest in, the promissory note, health-care-insurance receivable, or general
intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment,
or perfection of a security interest; or (2) provides that the assignment or transfer or the
creation, attachment, or perfection of the...
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10A-2A-8.53
Section 10A-2A-8.53 Advance for expenses. (a) A corporation may, before final disposition of
a proceeding, advance funds to pay for or reimburse expenses incurred in connection with the
proceeding by an individual who is a party to the proceeding because that individual is a
director if the director delivers to the corporation a signed written undertaking of the director
to repay any funds advanced if (i) the director is not entitled to mandatory indemnification
under Section 10A-2A-8.52 and (ii) it is ultimately determined under Section 10A-2A-8.54 or
Section 10A-2A-8.55 that the director is not entitled to indemnification. (b) The undertaking
required by subsection (a) must be an unlimited general obligation of the director but need
not be secured and may be accepted without reference to the financial ability of the director
to make repayment. (c) Authorizations under this section shall be made: (1) by the board of
directors: (i) if there are two or more qualified directors, by a...
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7-9A-333
Section 7-9A-333 Priority of certain liens arising by operation of law. (a) "Possessory
lien." In this section, "possessory lien" means an interest, other than a security
interest or an agricultural lien: (1) which secures payment or performance of an obligation
for services or materials furnished with respect to goods by a person in the ordinary course
of the person's business; (2) which is created by statute or rule of law in favor of the person;
and (3) whose effectiveness depends on the person's possession of the goods. (b) Priority
of possessory lien. A possessory lien on goods has priority over a security interest in the
goods unless the lien is created by a statute that expressly provides otherwise. (c) Priority
of landlord's lien. Priority conflicts between a landlord's lien for rent arising by operation
of law, other than an agricultural lien, and a security interest in goods brought on leased
premises shall be determined as follows: (1) If the security interest attaches after...
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