40-29-22
Section 40-29-22 Lien for taxes - Validity and priority against certain persons. (a) Purchasers, holders of security interests, mechanic's lienors, and judgment lien creditors. The lien imposed by Section 40-29-20 shall not be valid as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until notice thereof which meets the requirements of subsection (f) has been filed by the Commissioner of Revenue or his delegate, and shall not be perfected as against any purchaser, holder of a security interest, mechanic's lienor, or judgment lien creditor until the date such notice is filed. (b) Protection for certain interest even though notice filed. Even though notice of a lien imposed by Section 40-29-20 has been filed, such lien shall not be valid: (1) SECURITIES. With respect to a security (as defined in subsection (g)(4)): a. As against a purchaser of such security who at the time of purchase did not have actual notice or knowledge of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-22.htm - 17K - Match Info - Similar pages
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;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/7-9A-311.htm - 3K - Match Info - Similar pages
7-9A-617
Section 7-9A-617 Rights of transferee of collateral. (a) Effects of disposition. A secured party's disposition of collateral after default: (1) transfers to a transferee for value all of the debtor's rights in the collateral; (2) discharges the security interest under which the disposition is made; and (3) discharges any subordinate security interest or other subordinate lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this article or the requirements of any judicial proceeding. (c) Rights of other transferee. If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to: (1) the debtor's rights in the collateral; (2) the security interest or agricultural lien under which the disposition is made; and (3) any other security interest or other lien. (Act 2001-481, p....
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7-9A-336
Section 7-9A-336 Commingled goods. (a) "Commingled goods." In this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (b) No security interest in commingled goods as such. A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods. (c) Attachment of security interest to product or mass. If collateral becomes commingled goods, a security interest attaches to the product or mass. (d) Perfection of security interest. If a security interest in collateral is perfected before the collateral becomes commingled goods, the security interest that attaches to the product or mass under subsection (c) is perfected. (e) Priority of security interest. Except as otherwise provided in subsection (f), the other provisions of this part determine the priority of a security interest that attaches...
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7-9A-621
Section 7-9A-621 Notification of proposal to accept collateral. (a) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; (2) any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (A) identified the collateral; (B) was indexed under the debtor's name as of that date; and (C) was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and (3) any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the...
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7-9A-611
Section 7-9A-611 Notification before disposition of collateral. (a) "Notification date." In this section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (2) the debtor and any secondary obligor waive the right to notification. (b) Notification of disposition required. Except as otherwise provided in subsection (d), a secured party that disposes of collateral under Section 7-9A-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons to be notified. To comply with subsection (b), the secured party shall send an authenticated notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the collateral is other than consumer goods: (A) any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an...
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7-9A-625
Section 7-9A-625 Remedies for secured party's failure to comply with article. (a) Judicial orders concerning noncompliance. If it is established that a secured party is not proceeding in accordance with this article, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. (b) Damages for noncompliance. Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of any loss caused by a failure to comply with this article. Loss caused by a failure to comply may include loss resulting from the debtor's inability to obtain, or increased costs of, alternative financing. (c) Persons entitled to recover damages; statutory damages in consumer-goods transaction. Except as otherwise provided in Section 7-9A-628: (1) a person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss;...
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7-9A-805
Section 7-9A-805 Effectiveness of action taken before effective date. (a) Pre-effective date filing effective. The filing of a financing statement before July 1, 2014, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under Article 9A as amended by Act 2014-374. (b) When pre-effective date filing becomes ineffective. Act 2014-374 does not render ineffective a financing statement that, before July 1, 2014, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in Article 9A as it existed before amendment. However, except as otherwise provided in subsections (c) and (d) and Section 7-9A-806, the financing statement ceases to be effective: (1) if the financing statement is filed in this state, at the time the financing statement would have ceased to be effective had Act 2014-374 not taken effect; or (2) if the financing statement is...
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35-11-233
Section 35-11-233 Assignment of lien; transfer of lien on real property to other security. (a) Any claim for which a lien is provided in this division may be assigned; and the assignee shall thereby be invested with all the rights of the original holder of the lien, and be entitled to all his remedies to enforce them. The assignee shall have the right to consolidate all such claims in one statement to be filed as herein provided; and the length of time for the filing of said claim shall be measured by the greatest length of time for the filing of any class of claims held by the assignee. (b) Any lien claimed on real property under this division may be transferred by any person having an interest in the real property upon which the lien is imposed or the contract under which the lien is claimed, from such real property to other security by first filing with the court in which the action is brought, a copy of the lien which has been duly filed and recorded as required by law, and by...
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7-9A-307
Section 7-9A-307 Location of debtor. (a) "Place of business." In this section, "place of business" means a place where a debtor conducts its affairs. (b) Debtor's location: General rules. Except as otherwise provided in this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence. (2) A debtor that is an organization and has only one place of business is located at its place of business. (3) A debtor that is an organization and has more than one place of business is located at its chief executive office. (c) Limitation of applicability of subsection (b). Subsection (b) applies only if a debtor's residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result...
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