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7-9A-602
Section 7-9A-602 Waiver and variance of rights and duties. Except as otherwise provided in
Section 7-9A-624, to the extent that they give rights to a debtor or obligor and impose duties
on a secured party, the debtor or obligor may not waive or vary the rules stated in the following
listed sections: (1) Section 7-9A-207(b)(4)(C), which deals with use and operation of the
collateral by the secured party; (2) Section 7-9A-210, which deals with requests for an accounting
and requests concerning a list of collateral and statement of account; (3) Section 7-9A-607(c),
which deals with collection and enforcement of collateral; (4) Sections 7-9A-608(a) and 7-9A-615(c)
to the extent that they deal with application or payment of noncash proceeds of collection,
enforcement, or disposition; (5) Sections 7-9A-608(a) and 7-9A-615(d) to the extent that they
require accounting for or payment of surplus proceeds of collateral; (6) Section 7-9A-609
to the extent that it imposes upon a secured party that...
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7-9A-613
Section 7-9A-613 Contents and form of notification before disposition of collateral: General.
Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification
of disposition are sufficient if the notification: (A) describes the debtor and the secured
party; (B) describes the collateral that is the subject of the intended disposition; (C) states
the method of intended disposition; (D) states that the debtor is entitled to an accounting
of the unpaid indebtedness and states the charge, if any, for an accounting; and (E) states
the time and place of a public disposition or the time after which any other disposition is
to be made. (2) Whether the contents of a notification that lacks any of the information specified
in paragraph (1) are nevertheless sufficient is a question of fact. (3) The contents of a
notification providing substantially the information specified in paragraph (1) are sufficient,
even if the notification includes: (A) information not...
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7-9A-608
Section 7-9A-608 Application of proceeds of collection or enforcement; liability for deficiency
and right to surplus. (a) Application of proceeds, surplus, and deficiency if obligation secured.
If a security interest or agricultural lien secures payment or performance of an obligation,
the following rules apply: (1) A secured party shall apply or pay over for application the
cash proceeds of collection or enforcement under Section 7-9A-607 in the following order to:
(A) the reasonable expenses of collection and enforcement and, to the extent provided for
by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred
by the secured party; (B) the satisfaction of obligations secured by the security interest
or agricultural lien under which the collection or enforcement is made; and (C) the satisfaction
of obligations secured by any subordinate security interest in or other lien on the collateral
subject to the security interest or agricultural lien under...
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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-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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5-19-1
Section 5-19-1 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings respectively ascribed to them by this section: (1) FINANCE CHARGE.
The sum of all charges, payable directly or indirectly by the person to whom credit is extended,
and imposed directly or indirectly by the creditor as an incident to the extension of credit.
The amount of the finance charge in connection with any credit transaction (i) shall be determined,
and shall include and exclude the fees and charges, as provided by Section 106 of the Federal
Truth-in-Lending Act, 15 U.S.C. Section 1605 and the regulations of the Federal Reserve Board
promulgated pursuant to the Federal Truth-in-Lending Act, 12 C.F.R. Part 226, and the Official
Staff Commentary adopted by the Federal Reserve Board pursuant to that regulation, and without
limiting or affecting the foregoing subparagraph (i), (ii) shall exclude, without limitation,
late charges and other charges resulting from or...
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43-2-843
Section 43-2-843 Transactions authorized for personal representatives; exceptions. Except as
restricted or otherwise provided by the will or by an order of court and subject to the priorities
stated in Section 43-8-76, a personal representative, acting prudently for the benefit of
the interested persons, may properly: (1) Retain assets owned by the decedent pending distribution
or liquidation including those in which the representative is personally interested or which
are otherwise improper for trust investment. (2) Receive assets from fiduciaries, or other
sources. (3) Perform, compromise, or refuse performance of the decedent's contracts that continue
as obligations of the estate, as the personal representative may determine under the circumstances.
In performing enforceable contracts by the decedent to convey or lease land, the personal
representative, among other possible courses of action, may do either of the following: a.
Execute and deliver a deed of conveyance for cash...
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5-19-19
Section 5-19-19 Liabilities of creditor making excess finance charge; failure to obtain license;
damages for deliberate violation or reckless disregard; written notice of violations; oral
statements not admissible; fiduciary duty not created. (a)(1)(i) Any creditor charging a finance
charge in excess of the amount authorized herein, except as specified in subdivision (2),
shall forfeit debtor's actual economic damages not to exceed the finance charge, and shall
refund to the debtor such amount of the actual economic damages, which may be done by reducing
the amount of the debtor's obligation. If the debtor is entitled to a refund and the creditor
refuses to refund within a reasonable time, not to exceed 60 days, after written demand, including
the filing of a legal action, the debtor shall recover a penalty of five times the amount
of the actual economic damages not to exceed the finance charge, but in any event not less
than one hundred dollars ($100). Provided, however, as to any...
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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...
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7-9A-513
Section 7-9A-513 Termination statement. (a) Consumer goods. A secured party shall cause the
secured party of record for a financing statement to file a termination statement for the
financing statement if the financing statement covers consumer goods and: (1) there is no
obligation secured by the collateral covered by the financing statement and no commitment
to make an advance, incur an obligation, or otherwise give value; or (2) the debtor did not
authorize the filing of the initial financing statement. (b) Time for compliance with subsection
(a). To comply with subsection (a), a secured party shall cause the secured party of record
to file the termination statement: (1) within one month after there is no obligation secured
by the collateral covered by the financing statement and no commitment to make an advance,
incur an obligation, or otherwise give value; or (2) if earlier, within 20 days after the
secured party receives an authenticated demand from a debtor. (c) Other collateral....
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