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Part 1 - Secured Transactions.
Division 1 - Short Title, Definitions, and General Concepts.
Section 7-9A-102 - Definitions and Index of Definitions. - (a) Article 9A definitions. In this article: (1) "Accession" means...
Section 7-9A-101 - Short Title. - This article may be cited as Uniform Commercial Code-Secured Transactions.
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...
Section 7-9A-104 - Control of Deposit Account. - (a) Requirements for control. A secured party has control of...
Section 7-9A-105 - Control of Electronic Chattel Paper. - (a) General rule: control of electronic chattel paper. A secured...
Section 7-9A-106 - Control of Investment Property. - (a) Control under Section 7-8-106. A person has control of...
Section 7-9A-107 - Control of Letter-of-Credit Right. - A secured party has control of a letter-of-credit right to...
Section 7-9A-108 - Sufficiency of Description. - (a) Sufficiency of description. Except as otherwise provided in subsections...
Division 2 - Applicability of Article.
Section 7-9A-110 - Security Interests Arising Under Article 2 or 2a. - A security interest arising under Section 7-2-401, 7-2-505, 7-2-711(3), or...
Section 7-9A-109 - Scope. - (a) General scope of article. Except as otherwise provided in...
Part 2 - Effectiveness of Security Agreement, Attachment of Security Interest; Rights of Parties to Security Agreement.
Division 1 - Effectiveness and Attachment.
Section 7-9A-201 - General Effectiveness of Security Agreement. - (a) General effectiveness. Except as otherwise provided in the Uniform...
Section 7-9A-202 - Title to Collateral Immaterial. - Except as otherwise provided with respect to consignments or sales...
Section 7-9A-203 - Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites. - (a) Attachment. A security interest attaches to collateral when it...
Section 7-9A-204 - After-Acquired Property; Future Advances. - (a) After-acquired collateral. Except as otherwise provided in subsection (b),...
Section 7-9A-205 - Use or Disposition of Collateral Permissible. - (a) When security interest not invalid or fraudulent. A security...
Section 7-9A-206 - Security Interest Arising in Purchase or Delivery of Financial Asset. - (a) Security interest when person buys through securities intermediary. A...
Division 2 - Rights and Duties.
Section 7-9A-207 - Rights and Duties of Secured Party Having Possession or Control of Collateral. - (a) Duty of care when secured party in possession. Except...
Section 7-9A-208 - Additional Duties of Secured Party Having Control of Collateral. - (a) Applicability of section. This section applies to cases in...
Section 7-9A-209 - Duties of Secured Party if Account Debtor Has Been Notified of Assignment. - (a) Applicability of section. Except as otherwise provided in subsection...
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...
Part 3 - Perfection and Priority.
Division 1 - Law Governing Perfection and Priority.
Section 7-9A-301 - Law Governing Perfection and Priority of Security Interests. - Except as otherwise provided in Sections 7-9A-303 through 7-9A-306, the...
Section 7-9A-302 - Law Governing Perfection and Priority of Agricultural Liens. - While farm products are located in a jurisdiction, the local...
Section 7-9A-303 - Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title. - (a) Applicability of section. This section applies to goods covered...
Section 7-9A-304 - Law Governing Perfection and Priority of Security Interests in Deposit Accounts. - (a) Law of bank's jurisdiction governs. The local law of...
Section 7-9A-305 - Law Governing Perfection and Priority of Security Interests in Investment Property. - (a) Governing law: General rules. Except as otherwise provided in...
Section 7-9A-306 - Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights. - (a) Governing law: Issuer's or nominated person's jurisdiction. Subject to...
Section 7-9A-307 - Location of Debtor. - (a) "Place of business." In this section, "place of business"...
Division 2 - Perfection.
Section 7-9A-308 - When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection. - (a) Perfection of security interest. Except as otherwise provided in...
Section 7-9A-309 - Security Interest Perfected Upon Attachment. - The following security interests are perfected when they attach: (1)...
Section 7-9A-310 - When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply. - (a) General rule: Perfection by filing. Except as otherwise provided...
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...
Section 7-9A-312 - Perfection of Certain Security Interests by Filing; Temporary Perfection. - (a) Perfection by filing permitted. A security interest in chattel...
Section 7-9A-313 - When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing. - (a) Perfection by possession or delivery. Except as otherwise provided...
Section 7-9A-314 - Perfection by Control. - (a) Perfection by control. A security interest in investment property,...
Section 7-9A-315 - Secured Party's Rights on Disposition of Collateral and in Proceeds. - (a) Disposition of collateral: Continuation of security interest or agricultural...
Section 7-9A-316 - Effect of Change in Governing Law. - (a) General rule: Effect on perfection of change in governing...
Division 3 - Priority.
Section 7-9A-317 - Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien. - (a) Conflicting security interests and rights of lien creditors. A...
Section 7-9A-318 - No Interest Retained in Right to Payment That Is Sold; Rights and Title of Seller of Account or Chattel Paper With Respect to Creditors and Purchasers. - (a) Seller retains no interest. A debtor that has sold...
Section 7-9A-319 - Rights and Title of Consignee With Respect to Creditors and Purchasers. - (a) Consignee has consignor's rights. Except as otherwise provided in...
Section 7-9A-320 - Buyer of Goods; Alabama Farmers Credit Protection Fund. - (a) Buyer in ordinary course of business. Except as otherwise...
Section 7-9A-321 - Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business. - (a) "Licensee in ordinary course of business." In this section,...
Section 7-9A-322 - Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral. - (a) General priority rules. Except as otherwise provided in this...
Section 7-9A-323 - Future Advances. - (a) When priority based on time of advance. Except as...
Section 7-9A-324 - Priority of Purchase-Money Security Interests. - (a) General rule: Purchase-money priority. Except as otherwise provided in...
Section 7-9A-325 - Priority of Security Interests in Transferred Collateral. - (a) Subordination of security interest in transferred collateral. Except as...
Section 7-9A-326 - Priority of Security Interests Created by New Debtor. - (a) Subordination of security interest created by new debtor. Subject...
Section 7-9A-327 - Priority of Security Interests in Deposit Account. - The following rules govern priority among conflicting security interests in...
Section 7-9A-328 - Priority of Security Interests in Investment Property. - The following rules govern priority among conflicting security interests in...
Section 7-9A-329 - Priority of Security Interests in Letter-of-Credit Right. - The following rules govern priority among conflicting security interests in...
Section 7-9A-330 - Priority of Purchaser of Chattel Paper or Instrument. - (a) Purchaser's priority: Security interest claimed merely as proceeds. A...
Section 7-9A-331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article 8. - (a) Rights under Articles 3, 7, and 8 not limited....
Section 7-9A-332 - Transfer of Money; Transfer of Funds From Deposit Account. - (a) Transferee of money. A transferee of money takes the...
Section 7-9A-333 - Priority of Certain Liens Arising by Operation of Law. - (a) "Possessory lien." In this section, "possessory lien" means an...
Section 7-9A-334 - Priority of Security Interests in Fixtures and Crops. - (a) Security interest in fixtures under this article. A security...
Section 7-9A-335 - Accessions. - (a) Creation of security interest in accession. A security interest...
Section 7-9A-336 - Commingled Goods. - (a) "Commingled goods." In this section, "commingled goods" means goods...
Section 7-9A-337 - Priority of Security Interests in Goods Covered by Certificate of Title. - If, while a security interest in goods is perfected by...
Section 7-9A-338 - Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information. - If a security interest or agricultural lien is perfected by...
Section 7-9A-339 - Priority Subject to Subordination. - This article does not preclude subordination by agreement by a...
Division 4 - Rights of Bank.
Section 7-9A-340 - Effectiveness of Right of Recoupment or Set-Off Against Deposit Account. - (a) Exercise of recoupment or set-off. Except as otherwise provided...
Section 7-9A-341 - Bank's Rights and Duties With Respect to Deposit Account. - Except as otherwise provided in Section 7-9A-340(c), and unless the...
Section 7-9A-342 - Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement. - This article does not require a bank to enter into...
Part 4 - Rights of Third Parties.
Section 7-9A-401 - Alienability of Debtor's Rights. - (a) Other law governs alienability; exceptions. Except as otherwise provided...
Section 7-9A-402 - Secured Party Not Obligated on Contract of Debtor or in Tort. - The existence of a security interest, agricultural lien, or authority...
Section 7-9A-403 - Agreement Not to Assert Defenses Against Assignee. - (a) "Value." In this section, "value" has the meaning provided...
Section 7-9A-404 - Rights Acquired by Assignee; Claims and Defenses Against Assignee. - (a) Assignee's rights subject to terms, claims, and defenses; exceptions....
Section 7-9A-405 - Modification of Assigned Contract. - (a) Effect of modification on assignee. A modification of or...
Section 7-9A-406 - Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper, Payment Intangibles, and Promissory Notes Ineffective. - (a) Discharge of account debtor; effect of notification. Subject to...
Section 7-9A-407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest. - (a) Term restricting assignment generally ineffective. Except as otherwise provided...
Section 7-9A-408 - Restrictions on Assignment of Promissory Notes, Health-Care-Insurance Receivables, and Certain General Intangibles Ineffective. - (a) Term restricting assignment generally ineffective. Except as otherwise provided...
Section 7-9A-409 - Restrictions on Assignment of Letter-of-Credit Rights Ineffective. - (a) Term or law restricting assignment generally ineffective. A term...
Part 5 - Filing.
Division 1 - Filing; Contents and Effectiveness of Financing Statement.
Section 7-9A-501 - Filing Office. - (a) Filing offices. Except as otherwise provided in subsection (b),...
Section 7-9A-502 - Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement. - (a) Sufficiency of financing statement. Subject to subsection (b), a...
Section 7-9A-503 - Name of Debtor and Secured Party. - (a) Sufficiency of debtor's name. A financing statement sufficiently provides...
Section 7-9A-504 - Indication of Collateral. - A financing statement sufficiently indicates the collateral that it covers...
Section 7-9A-505 - Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions. - (a) Use of terms other than "debtor" and "secured party."...
Section 7-9A-506 - Effect of Errors or Omissions. - (a) Minor errors and omissions. A financing statement substantially satisfying...
Section 7-9A-507 - Effect of Certain Events on Effectiveness of Financing Statement. - (a) Disposition. A filed financing statement remains effective with respect...
Section 7-9A-508 - Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement. - (a) Financing statement naming original debtor. Except as otherwise provided...
Section 7-9A-509 - Persons Entitled to File a Record. - (a) Person entitled to file record. A person may file...
Section 7-9A-510 - Effectiveness of Filed Record. - (a) Filed record effective if authorized. A filed record is...
Section 7-9A-511 - Secured Party of Record. - (a) Secured party of record. A secured party of record...
Section 7-9A-512 - Amendment of Financing Statement. - (a) Amendment of information in financing statement. Subject to Section...
Section 7-9A-513 - Termination Statement. - (a) Consumer goods. A secured party shall cause the secured...
Section 7-9A-514 - Assignment of Powers of Secured Party of Record. - (a) Assignment reflected on initial financing statement. Except as otherwise...
Section 7-9A-515 - Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement. - (a) Five-year effectiveness. Except as otherwise provided in subsections (b),...
Section 7-9A-516 - What Constitutes Filing; Effectiveness of Filing. - (a) What constitutes filing. Except as otherwise provided in subsection...
Section 7-9A-517 - Effect of Indexing Errors. - The failure of the filing office to index a record...
Section 7-9A-518 - Claim Concerning Inaccurate or Wrongfully Filed Record. - (a) Statement with respect to record indexed under person's name....
Division 2 - Duties and Operation of Filing Office.
Section 7-9A-519 - Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records. - (a) Filing office duties. For each record filed in a...
Section 7-9A-520 - Acceptance and Refusal to Accept Record. - (a) Mandatory refusal to accept record. A filing office shall...
Section 7-9A-521 - Uniform Form of Written Financing Statement and Amendment. - (a) Initial financing statement form. A filing office that accepts...
Section 7-9A-522 - Maintenance and Destruction of Records. - (a) Post-lapse maintenance and retrieval of information. The filing office...
Section 7-9A-523 - Information From Filing Office; Sale or License of Records. - (a) Acknowledgment of filing written record. If a person that...
Section 7-9A-524 - Delay by Filing Office. - Delay by the filing office beyond a time limit prescribed...
Section 7-9A-525 - Fees. - (a) Initial financing statement or other record: General rule. Except...
Section 7-9A-526 - Filing-Office Rules. - (a) Adoption of filing-office rules. The Secretary of State shall...
Part 6 - Default.
Division 1 - Default and Enforcement of Security Interest.
Section 7-9A-601 - Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes. - (a) Rights of secured party after default. After default, a...
Section 7-9A-602 - Waiver and Variance of Rights and Duties. - Except as otherwise provided in Section 7-9A-624, to the extent...
Section 7-9A-603 - Agreement on Standards Concerning Rights and Duties. - (a) Agreed standards. The parties may determine by agreement the...
Section 7-9A-604 - Procedure if Security Agreement Covers Real Property or Fixtures. - (a) Enforcement: Personal and real property. If a security agreement...
Section 7-9A-605 - Unknown Debtor or Secondary Obligor. - A secured party does not owe a duty based on...
Section 7-9A-606 - Time of Default for Agricultural Lien. - For purposes of this part, a default occurs in connection...
Section 7-9A-607 - Collection and Enforcement by Secured Party. - (a) Collection and enforcement generally. If so agreed, and in...
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....
Section 7-9A-609 - Secured Party's Right to Take Possession After Default. - (a) Possession; rendering equipment unusable; disposition on debtor's premises. After...
Section 7-9A-610 - Disposition of Collateral After Default. - (a) Disposition after default. After default, a secured party may...
Section 7-9A-611 - Notification Before Disposition of Collateral. - (a) "Notification date." In this section, "notification date" means the...
Section 7-9A-612 - Timeliness of Notification Before Disposition of Collateral. - (a) Reasonable time is question of fact. Except as otherwise...
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)...
Section 7-9A-614 - Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction. - In a consumer-goods transaction, the following rules apply: (1) A...
Section 7-9A-615 - Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus. - (a) Application of proceeds. A secured party shall apply or...
Section 7-9A-616 - Explanation of Calculation of Surplus or Deficiency. - (a) Definitions. In this section: (1) "Explanation" means a writing...
Section 7-9A-617 - Rights of Transferee of Collateral. - (a) Effects of disposition. A secured party's disposition of collateral...
Section 7-9A-618 - Rights and Duties of Certain Secondary Obligors. - (a) Rights and duties of secondary obligor. A secondary obligor...
Section 7-9A-619 - Transfer of Record or Legal Title. - (a) "Transfer statement." In this section, "transfer statement" means a...
Section 7-9A-620 - Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral. - (a) Conditions to acceptance in satisfaction. Except as otherwise provided...
Section 7-9A-621 - Notification of Proposal to Accept Collateral. - (a) Persons to which proposal to be sent. A secured...
Section 7-9A-622 - Effect of Acceptance of Collateral. - (a) Effect of acceptance. A secured party's acceptance of collateral...
Section 7-9A-623 - Right to Redeem Collateral. - (a) Persons that may redeem. A debtor, any secondary obligor,...
Section 7-9A-624 - Waiver. - (a) Waiver of disposition notification. A debtor or secondary obligor...
Division 2 - Noncompliance With Article.
Section 7-9A-625 - Remedies for Secured Party's Failure to Comply With Article. - (a) Judicial orders concerning noncompliance. If it is established that...
Section 7-9A-626 - Action in Which Deficiency or Surplus Is in Issue. - (a) Applicable rules if amount of deficiency or surplus in...
Section 7-9A-627 - Determination of Whether Conduct Was Commercially Reasonable. - (a) Greater amount obtainable under other circumstances; no preclusion of...
Section 7-9A-628 - Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor. - (a) Limitation of liability of secured party for noncompliance with...
Part 7 - Transition.
Section 7-9A-701 - Effective Date. - This article is effective January 1, 2002, except Section 7-9A-525...
Section 7-9A-702 - Savings Clause. - (a) Pre-effective-date transactions or liens. Except as otherwise provided in...
Section 7-9A-703 - Security Interest Perfected Before January 1, 2002. - (a) Continuing priority over lien creditor: Perfection requirements satisfied. A...
Section 7-9A-704 - Security Interest Unperfected Before January 1, 2002. - A security interest that is enforceable immediately before January 1,...
Section 7-9A-705 - Effectiveness of Action Taken Before January 1, 2002. - (a) Pre-effective-date action; one-year perfection period unless reperfected. If action,...
Section 7-9A-706 - When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement. - (a) Initial financing statement in lieu of continuation statement. The...
Section 7-9A-707 - Amendment of Pre-Effective-Date Financing Statement. - (a) "Pre-effective-date financing statement". In this section, "pre-effective-date financing statement"...
Section 7-9A-708 - Persons Entitled to File Initial Financing Statement or Continuation Statement. - A person may file an initial financing statement or a...
Section 7-9A-709 - Priority. - (a) Law governing priority. This article determines the priority of...
Part 8 - Transition for 2014 Amendments.
Section 7-9A-801 - Effective Date. - Act 2014-374 takes effect on July 1, 2014.
Section 7-9A-802 - Savings Clause. - (a) Pre-effective date transactions or liens. Except as otherwise provided...
Section 7-9A-803 - Security Interest Perfected Before July 1, 2014. - (a) Continuing perfection: perfection requirements satisfied. A security interest that...
Section 7-9A-804 - Security Interest Unperfected Before Effective Date. - A security interest that is an unperfected security interest immediately...
Section 7-9A-805 - Effectiveness of Action Taken Before Effective Date. - (a) Pre-effective date filing effective. The filing of a financing...
Section 7-9A-806 - When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement. - (a) Initial financing statement in lieu of continuation statement. The...
Section 7-9A-807 - Amendment of Pre-Effective Date Financing Statement. - (a) Pre-effective date financing statement. In this section, pre-effective date...
Section 7-9A-808 - Person Entitled to File Initial Financing Statement or Continuation Statement. - A person may file an initial financing statement or a...
Section 7-9A-809 - Priority. - Act 2014-374 determines the priority of conflicting claims to collateral....