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35-10-96
Section 35-10-96 Affidavit of satisfaction requirements. An affidavit of satisfaction of a
security instrument must do all of the following: (1) Identify the original parties to the
security instrument, the secured creditor, and the recording data for the security instrument.
(2) State the basis upon which the person signing the affidavit is a satisfaction agent including,
without limitation, that the person signing the affidavit is authorized to sign on behalf
of, and to bind, the insurance company acting as satisfaction agent. (3) State that the person
signing the affidavit has determined that the real property described in the security instrument
is residential real property or was residential real property at the time the security instrument
was made. (4) State that the person signing the affidavit determined that the secured creditor
has received full payment or performance of the secured obligation and, if the security instrument
is an equity line security instrument, that the...
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7-9A-204
Section 7-9A-204 After-acquired property; future advances. (a) After-acquired collateral. Except
as otherwise provided in subsection (b), a security agreement may create or provide for a
security interest in after-acquired collateral. (b) When after-acquired property clause not
effective. A security interest does not attach under a term constituting an after-acquired
property clause to: (1) consumer goods, other than an accession when given as additional security,
unless the debtor acquires rights in them within 10 days after the secured party gives value;
or (2) a commercial tort claim. (c) Future advances and other value. A security agreement
may provide that collateral secures, or that accounts, chattel paper, payment intangibles,
or promissory notes are sold in connection with, future advances or other value, whether or
not the advances or value are given pursuant to commitment. (Act 2001-481, p. 647, §1.)...
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7-9A-210
Section 7-9A-210 Request for accounting; request regarding list of collateral or statement
of account. (a) Definitions. In this section: (1) "Request" means a record of a
type described in paragraph (2), (3), or (4). (2) "Request for an accounting" means
a record authenticated by a debtor requesting that the recipient provide an accounting of
the unpaid obligations secured by collateral and reasonably identifying the transaction or
relationship that is the subject of the request. (3) "Request regarding a list of collateral"
means a record authenticated by a debtor requesting that the recipient approve or correct
a list of what the debtor believes to be the collateral securing an obligation and reasonably
identifying the transaction or relationship that is the subject of the request. (4) "Request
regarding a statement of account" means a record authenticated by a debtor requesting
that the recipient approve or correct a statement indicating what the debtor believes to be
the aggregate...
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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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10A-9A-6.07
Section 10A-9A-6.07 Liability to other persons of person dissociated as general partner. (a)
A person's dissociation as a general partner does not of itself discharge the person's liability
as a general partner for a debt, obligation, or liability of the limited partnership incurred
before dissociation. Except as otherwise provided in subsections (b) and (c), the person is
not liable for a limited partnership's debts, obligations, or liabilities incurred after dissociation.
(b) A person whose dissociation as a general partner resulted in a dissolution and winding
up of the limited partnership's activities and affairs is liable to the same extent as a general
partner under Section 10A-9A-4.04 on an obligation incurred by the limited partnership under
Section 10A-9A-8.04. (c) A person that has dissociated as a general partner but whose dissociation
did not result in a dissolution and winding up of the limited partnership's activities and
affairs is liable on a transaction entered into by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-9A-6.07.htm - 2K - Match Info - Similar pages
11-92B-14
Section 11-92B-14 Liability for injuries. An authority shall not be liable for damages for
injury done to any person or corporation, unless the injury was done due to the negligence
or wantonness of an agent, officer, or employee of the authority while engaged in work for
the authority and while acting in the line and scope of his or her duty, or unless the injury
was done due to the neglect, carelessness, or failure to remedy a defect in the streets, alleys,
drainage systems, or buildings of the authority after the authority had been given notice
of the defect or after the defect had existed for such an unreasonable length of time as to
raise a presumption of knowledge of the defect on the part of the authority. Whenever an authority
shall be made liable for damages by reason of the unauthorized or wrongful acts or negligence
or carelessness of any person or corporation, then the person or corporation shall be liable
to an action on the same account by the party so injured. (Act...
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13A-4-3
Section 13A-4-3 Criminal conspiracy generally. (a) A person is guilty of criminal conspiracy
if, with the intent that conduct constituting an offense be performed, he agrees with one
or more persons to engage in or cause the performance of such conduct, and any one or more
of such persons does an overt act to effect an objective of the agreement. (b) If a person
knows or should know that one with whom he agrees has in turn agreed or will agree with another
to effect the same criminal objective, he shall be deemed to have agreed with such other person,
whether or not he knows the other's identity. (c) A person is not liable under this section
if, under circumstances manifesting a voluntary and complete renunciation of his criminal
purpose, he gave a timely and adequate warning to law enforcement authorities or made a substantial
effort to prevent the enforcement of the criminal conduct contemplated by the conspiracy.
Renunciation by one conspirator, however, does not affect the...
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35-10-98
Section 35-10-98 Liability. (a) Except as otherwise provided in subsection (b), a satisfaction
agent or any other person who executes an affidavit of satisfaction of a security instrument
erroneously or as a result of negligence or non-compliance with this article is liable to
the secured creditor for any actual economic damages caused by the recording of the satisfaction.
(b) This article does not apply to the liability of a satisfaction agent who executes an affidavit
of satisfaction of a security instrument erroneously as a result of wantonness, recklessness,
or deliberate misconduct, nor does this article apply to the liability of a person other than
a satisfaction agent who erroneously executes an affidavit of satisfaction. (Act 2012-278,
p. 554, §9.)...
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5-19-6
Section 5-19-6 Copies of instruments signed by debtors to be furnished to debtors; required
statement in contracts, etc.; limitation on disclosure requirements; intent, applicability
of limitation. (a) Any creditor, when extending credit with respect to a consumer credit transaction,
other than under an open-end credit plan, shall at that time furnish to the debtor a copy
of each instrument executed by the debtor in connection with the consumer credit transaction.
The consumer credit transaction contract or note shall contain the following statement in
eight point or larger type immediately above the space for the borrower's signature. "CAUTION
- IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT." (b) No disclosures
are required by this chapter to be made by a creditor with respect to any transaction other
than disclosures required by regulations made by the administrator pursuant to Section 5-19-21
and disclosures required by subsection (a) above and by Sections...
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7-9A-324
Section 7-9A-324 Priority of purchase-money security interests. (a) General rule: Purchase-money
priority. Except as otherwise provided in subsection (g), a perfected purchase-money security
interest in goods other than inventory or livestock has priority over a conflicting security
interest in the same goods, and, except as otherwise provided in Section 7-9A-327, a perfected
security interest in its identifiable proceeds also has priority, if the purchase-money security
interest is perfected when the debtor receives possession of the collateral or within 20 days
thereafter. (b) Inventory purchase-money priority. Subject to subsection (c) and except as
otherwise provided in subsection (g), a perfected purchase-money security interest in inventory
has priority over a conflicting security interest in the same inventory, has priority over
a conflicting security interest in chattel paper or an instrument constituting proceeds of
the inventory and in proceeds of the chattel paper, if so...
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