Any mortgage, deed of trust or other instrument executed by a cooperative or foreign corporation transacting business in this state pursuant to this chapter, which, by its terms, creates a lien upon real and personal property then owned or after acquired and which is recorded as a mortgage of real property in any county in which such property is located or is to be located, shall have the same force and effect as if the mortgage, deed of trust or other instrument were also recorded or filed in the proper office in such county as a mortgage of personal property. Recordation of any such mortgage, deed of trust or other instrument shall cause the lien thereof to attach to all after acquired property of the mortgagor of the nature therein described as being mortgaged or pledged thereby, immediately upon the acquisition of such property by the mortgagor, and such lien shall be superior to all claims of creditors of the mortgagor and purchasers of such property and to all other liens, except liens of prior record and tax liens affecting such property.
Structure Code of Alabama
Title 37 - Public Utilities and Public Transportation.
Chapter 6 - Electric Cooperatives.
Article 1 - General Provisions.
Section 37-6-2 - Organization and Purpose.
Section 37-6-3 - Enumerated Powers.
Section 37-6-5 - Incorporators.
Section 37-6-6 - Articles of Incorporation - Generally.
Section 37-6-7 - Articles of Incorporation - Amendment.
Section 37-6-9 - Qualifications for Membership; Meetings; Voting.
Section 37-6-10 - Board of Trustees.
Section 37-6-11 - Voting Districts.
Section 37-6-13 - Consolidation Generally.
Section 37-6-14 - Merger Generally.
Section 37-6-15 - Effect of Consolidation or Merger.
Section 37-6-16 - Conversion of Existing Corporation Into Cooperative.
Section 37-6-18 - Dissolution.
Section 37-6-19 - Filing of Articles.
Section 37-6-20 - Disposition of Excess Revenues.
Section 37-6-22 - Nonliability of Members for Debts of Cooperative.
Section 37-6-24 - Waiver of Notice.
Section 37-6-25 - Acknowledgment of Instruments.
Section 37-6-26 - Foreign Corporations.
Section 37-6-28 - Bonds or Other Indebtedness - Consent of Department of Finance.
Section 37-6-27 - Exemption From Jurisdiction of Public Service Commission.
Section 37-6-29 - Bonds or Other Indebtedness - Exemption From Provisions of Securities Law.