Usa Alabama

USA Statutes : alabama
Title : Title 07 COMMERCIAL CODE.
Chapter : Article 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER.
Section 7-9-101

Section 7-9-101
Short title.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-102

Section 7-9-102
Policy and subject matter of article.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-103

Section 7-9-103
Perfection of security interests in multiple state transactions.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1996, No. 96-742, p. 1241, §2; Acts 1997, No. 97-702, §2.)Section 7-9-104

Section 7-9-104
Transactions excluded from article.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1965, 3rd Ex. Sess., No. 30, p. 237, §2; Acts 1981, No. 81-312, p. 399; Acts 1997, No. 97-702, §2.)Section 7-9-105

Section 7-9-105
Definitions and index of definitions.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1995, No. 95-668, p. 1381, §4; Acts 1996, No. 96-742, p. 1241, §2; Acts 1997, No. 97-702, §2.)Section 7-9-106

Section 7-9-106
Definitions: 'Account'; 'general intangibles.'

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1996, No. 96-742, p. 1241, §2; Acts 1997, No. 97-702, §2.)Section 7-9-107

Section 7-9-107
Definitions: 'Purchase money security interest.'

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-108

Section 7-9-108
When after-acquired collateral not security for antecedent debt.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-109

Section 7-9-109
Classification of goods; 'consumer goods'; 'equipment'; 'farm products'; 'inventory'.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-110

Section 7-9-110
Sufficiency of description.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-111

Section 7-9-111
Applicability of bulk transfer laws.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-112

Section 7-9-112
Where collateral is not owned by debtor.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-113

Section 7-9-113
Security interests arising under the article on sales or under the article on leases.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §603.)Section 7-9-114

Section 7-9-114
Consignment.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1981, No. 81-312, p. 399.)Section 7-9-115

Section 7-9-115
Investment property.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1996, No. 96-742, p. 1241, §3.)Section 7-9-116

Section 7-9-116
Security interest arising in purchase or delivery of financial asset.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1996, No. 96-742, p. 1241, §3.)Section 7-9-201

Section 7-9-201
General validity of security agreement.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-202

Section 7-9-202
Title to collateral immaterial.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-203

Section 7-9-203
Attachment and enforceability of security interest; proceeds; formal requisites.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1995, No. 95-668, p. 1381, §4; Acts 1996, No. 96-742, p. 1241, §2.)Section 7-9-204

Section 7-9-204
After-acquired property; future advances.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1979, No. 79-256, p. 390; Acts 1981, No. 81-312, p. 399; Acts 1983, No. 83-605, p. 942, §1.)Section 7-9-205

Section 7-9-205
Use or disposition of collateral without accounting permissible.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-206

Section 7-9-206
Agreement not to assert defenses against assignee; modification of sales warranties where security agreement exists.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1995, No. 95-668, p. 1381, §4.)Section 7-9-207

Section 7-9-207
Rights and duties when collateral is in secured party's possession.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-208

Section 7-9-208
Request for statement of account or list of collateral.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-301

Section 7-9-301
Persons who take priority over unperfected security interests; 'lien creditor.'

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1979, No. 79-256, p. 390; Acts 1981, No. 81-312, p. 399; Acts 1996, No. 96-742, p. 1241, §2.)Section 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 assignment of accounts which does not alone or in conjunction with other assignments to the same assignee transfer a significant part of the outstanding accounts of the assignor;

(f) A security interest of a collecting bank (Section 7-4-208) or arising under the article on sales (see Section 7-9-113) or covered in subsection (3) of this section;

(g) An assignment for the benefit of all the creditors of the transferor, and subsequent transfers by the assignee thereunder;

(h) A security interest in investment property which is perfected without filing under Section 7-9-115 or Section 7-9-116.

(2) If a secured party assigns a perfected security interest, no filing under this article is required in order to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

(3) The filing of a financing statement otherwise required by this article is not necessary or effective to perfect a security interest in property subject to:

(a) A statute or treaty of the United States which provides for a national or international registration or a national or international certificate of title or which specifies a place of filing different from that specified in this article for filing of the security interest; or

(b) The following statutes of this state: any certificate of title statute covering automobiles, trailers, mobile homes, boats, farm tractors or the like, and any central filing statute; but during any period in which collateral is inventory held for sale by a person who is in the business of selling goods of that kind, the filing provisions of this article (Part 4) apply to a security interest in that collateral created by him as debtor; or

(c) A certificate of title statute of another jurisdiction under the law of which indication of a security interest on the certificate is required as a condition of perfection (subsection (2) of Section 7-9-103).

(4) Compliance with a statute or treaty described in subsection (3) is equivalent to the filing of a financing statement under this article, and a security interest in property subject to the statute or treaty can be perfected only by compliance therewith except as provided in Section 7-9-103 on multiple state transactions. Duration and renewal of perfection of a security interest perfected by compliance with the statute or treaty are governed by the provisions of the statute or treaty; in other respects the security interest is subject to this article.

(5)(a) The filing provisions of this article also do not apply to a security interest in personal property or fixtures of a utility which is created by a mortgage or other security agreement which also covers real property situated in the State of Alabama and which has been filed for record in accordance with the laws of Alabama governing mortgages of real property. Such security interest shall be perfected by such filing, whether such filing shall have been accomplished before or after February 1, 1982; and such security interest shall be and remain effective, both as to the personal property or fixtures covered by the security interest at the time that it is perfected and as to personal property or fixtures which may subsequently be covered by the security interest under any after-acquired property provision of the mortgage or other security agreement creating the security interest, as long as such mortgage or other security agreement shall remain in effect, without the necessity for any refiling under the provisions of this article.

(b) Except as otherwise provided in paragraph (a) of this subsection (5), security interests in personal property or fixtures of a utility are subject to Sections 7-9-401(5) and 7-9-403(6).



(Acts 1965, No. 459, p. 811; Acts 1979, No. 79-256, p. 390; Acts 1981, No. 81-312, p. 399; Acts 1995, No. 95-668, p. 1381, §4; Acts 1996, No. 96-742, p. 1241, §2.)Section 7-9-303

Section 7-9-303
When security interest is perfected; continuity of perfection.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-304

Section 7-9-304
Perfection of security interest in instruments, documents, proceeds of a written letter of credit, and goods covered by documents; perfection by permissive filing; temporary perfection without filing or transfer of possession.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1996, No. 96-742, p. 1241, §2; Acts 1997, No. 97-702, §2.)Section 7-9-305

Section 7-9-305
When possession by secured party perfects security interest without filing.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1997, No. 97-702, §2.)Section 7-9-306

Section 7-9-306
'Proceeds'; secured party's rights on disposition of collateral.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1979, No. 79-256, p. 390; Acts 1981, No. 81-312, p. 399; Acts 1996, No. 96-742, p. 1241, §2.)Section 7-9-307

Section 7-9-307
Protection of buyer of goods.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1986, No. 86-507, p. 989, §1; Acts 1987, No. 87-410, p. 595, §1.)Section 7-9-308

Section 7-9-308
Purchase of chattel paper and instruments.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-309

Section 7-9-309
Protection of purchasers of instruments and documents.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1996, No. 96-742, p. 1241, §2.)Section 7-9-310

Section 7-9-310
Priority of certain liens arising by operation of law; landlord's lien.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-311

Section 7-9-311
Alienability of debtor's rights: Judicial process.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-312

Section 7-9-312
Priorities among conflicting security interests in the same collateral.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1979, No. 79-256, p. 390; Acts 1981, No. 81-312, p. 399; Acts 1995, No. 95-668, p. 1381, §4; Acts 1996, No. 96-742, p. 1241, §2.)Section 7-9-313

Section 7-9-313
Priority of security interests in fixtures.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-314

Section 7-9-314
Accessions.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-315

Section 7-9-315
Priority when goods are commingled or processed.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-316

Section 7-9-316
Priority subject to subordination.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-317

Section 7-9-317
Secured party not obligated on contract of debtor.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-318

Section 7-9-318
Defenses against assignee; modification of contract after notification of assignment; term prohibiting assignment ineffective; identification and proof of assignment.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-401

Section 7-9-401
Place of filing; erroneous filing; removal of collateral.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-402

Section 7-9-402
Formal requisites of financing statement; amendments; mortgage as financing statement.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399; Acts 1987, No. 87-410, p. 595, §1.)Section 7-9-403

Section 7-9-403
What constitutes filing; duration of filing; effect of lapsed filing; duties of filing officer.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1973, No. 865, p. 1365, §1; Acts 1981, No. 81-312, p. 399; Acts 1984, No. 84-307; Acts 1984, No. 84-446, p. 1040, §2; Acts 1987, No. 87-410, p. 595, §1; Acts 1991, No. 91-593, p. 1094, §1; Act 2000-724, § 1.)Section 7-9-404

Section 7-9-404
Termination statement.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1973, No. 865, p. 1365, §1; Acts 1981, No. 81-312, p. 399; Acts 1984, No. 84-446, p. 1040, §2; Acts 1987, No. 87-410, p. 595, §1.)Section 7-9-405

Section 7-9-405
Assignment of security interest; duties of filing officer; fees.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1973, No. 865, p. 1365, §1; Acts 1981, No. 81-312, p. 399; Acts 1984, No. 84-446, §2.)Section 7-9-406

Section 7-9-406
Release of collateral; duties of filing officer; fees.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1973, No. 865, p. 1365, §1; Acts 1981, No. 81-312, p. 399; Acts 1984, No. 84-446, §2.)Section 7-9-407

Section 7-9-407
Information from filing officer.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1973, No. 865, p. 1365, §1; Acts 1981, No. 81-312, p. 399; Acts 1984, No. 84-446, p. 1040, §2; Acts 1986, No. 86-507, p. 989, §1; Acts 1987, No. 87-410, p. 595, §1; Acts 1990, No. 90-480, p. 706.)Section 7-9-408

Section 7-9-408
Financing statements covering consigned or leased goods.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1981, No. 81-312, p. 399.)Section 7-9-409

Section 7-9-409
Prescribed fees in lieu of all others.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-410

Section 7-9-410
Rules and regulations and fees to implement central filing system; user and public training as to Uniform Commercial Code and Farm Products Central Index System Program.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1987, No. 87-410, p. 595, §2.)Section 7-9-501

Section 7-9-501
Default; procedure when security agreement covers both real and personal property.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-502

Section 7-9-502
Collection rights of secured party.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-503

Section 7-9-503
Secured party's right to take possession after default.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-504

Section 7-9-504
Secured party's right to dispose of collateral after default; effect of disposition.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-505

Section 7-9-505
Compulsory disposition of collateral; acceptance of the collateral as discharge of obligation.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811; Acts 1981, No. 81-312, p. 399.)Section 7-9-506

Section 7-9-506
Debtor's right to redeem collateral.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)Section 7-9-507

Section 7-9-507
Secured party's liability for failure to comply with this part.

Repealed by Act 2001-481, p. 647, § 4, effective January 1, 2002.



(Acts 1965, No. 549, p. 811.)

USA Statutes : alabama