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 7-9A-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-614 – Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction.
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 notification of disposition must provide the following information: (A) the information specified in Section 7-9A-613(1); (B) a description of any liability for a deficiency of the person to which the notification is […]
Section 7-9A-702 – Savings Clause.
Section 7-9A-702 Savings clause. (a) Pre-effective-date transactions or liens. Except as otherwise provided in this part, this article applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this article takes effect. (b) Continuing validity. Except as otherwise provided in subsection (c) and Sections […]
Section 7-9A-615 – Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus.
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 pay over for application the cash proceeds of disposition under Section 7-9A-610 in the following order to: (1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, […]
Section 7-9A-703 – Security Interest Perfected Before January 1, 2002.
Section 7-9A-703 Security interest perfected before January 1, 2002. (a) Continuing priority over lien creditor: Perfection requirements satisfied. A security interest that is enforceable immediately before January 1, 2002, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this article […]
Section 7-9A-616 – Explanation of Calculation of Surplus or Deficiency.
Section 7-9A-616 Explanation of calculation of surplus or deficiency. (a) Definitions. In this section: (1) “Explanation” means a writing that: (A) states the amount of the surplus or deficiency; (B) provides an explanation in accordance with subsection (c) of how the secured party calculated the surplus or deficiency; (C) states, if applicable, that future debits, […]
Section 7-9A-704 – Security Interest Unperfected Before January 1, 2002.
Section 7-9A-704 Security interest unperfected before January 1, 2002. A security interest that is enforceable immediately before January 1, 2002, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) remains an enforceable security interest for one year after January 1, 2002; (2) remains enforceable […]