Section 7-11-105 – Transition Provision on Change of Place of Filing.
Section 7-11-105 Transition provision on change of place of filing. (1) A financing statement or continuation statement filed prior to February 1, 1982, which shall not have lapsed prior to February 1, 1982, shall remain effective for the period provided in the old U.C.C., but not less than five years after the filing. (2) With […]
Section 7-11-106 – Required Refilings.
Section 7-11-106 Required refilings. (1) If a security interest is perfected or has priority on February 1, 1982, as to all persons or as to certain persons without any filing or recording, and if the filing of a financing statement would be required for the perfection or priority of the security interest against those persons […]
Section 7-11-107 – Transition Provisions as to Priorities.
Section 7-11-107 Transition provisions as to priorities. Except as otherwise provided in this Article 11, the old U.C.C. shall apply to any questions of priority if the positions of the parties were fixed prior to February 1, 1982. In other cases questions of priority shall be determined by the new U.C.C. (Acts 1981, No. 81-312, […]
Section 7-11-108 – Presumption That Rule of Law Continues Unchanged.
Section 7-11-108 Presumption that rule of law continues unchanged. Unless a change in law has clearly been made, the provisions of the new U.C.C. shall be deemed declaratory of the meaning of the old U.C.C. (Acts 1981, No. 81-312, p. 399.)
Section 7-9A-806 – When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement.
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 filing of an initial financing statement in the office specified in Section 7-9A-501 continues the effectiveness of a financing statement filed before July 1, 2014, if: (1) the filing of an initial […]
Section 7-9A-807 – Amendment of Pre-Effective Date Financing Statement.
Section 7-9A-807 Amendment of pre-effective date financing statement. (a) Pre-effective date financing statement. In this section, pre-effective date financing statement means a financing statement filed before July 1, 2014. (b) Applicable law. After July 1, 2014, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the […]
Section 7-9A-808 – Person Entitled to File Initial Financing Statement or Continuation Statement.
Section 7-9A-808 Person entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this part if: (1) the secured party of record authorizes the filing; and (2) the filing is necessary under this part: (A) to continue the effectiveness of a financing statement […]
Section 7-9A-809 – Priority.
Section 7-9A-809 Priority. Act 2014-374 determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2014, Article 9A as it existed before amendment determines priority. (Act 2014-374, p. 1339, §2.)
Section 7-10-101 – Effective Date.
Section 7-10-101 Effective date. This title shall become effective at midnight on December 31, 1966. It applies to transactions entered into and events occurring after that date. (Acts 1965, No. 549, p. 811.)
Section 7-10-102 – Specific Repealer; Provision for Transition.
Section 7-10-102 Specific repealer; provision for transition. (1) The following acts and all other acts and parts of acts inconsistent herewith are hereby repealed: Code of Alabama 1940: Title 2, Sections 504-567, inclusive; Title 5, Section 135 and Section 136; Title 7, Section 401 and Section 402; Title 9, Sections 10-13, inclusive; Title 10, Sections […]