Section 7-10-104 – Laws Not Repealed.
Section 7-10-104 Laws not repealed. Repealed Act 2004-315, p. 464, 1, Effective January 1, 2005. (Acts 1965, No. 549, p. 811; Acts 1996, No. 96-742, p. 1241, §5.)
Section 7-11-101 – Effective Date; Definitions.
Section 7-11-101 Effective date; definitions. (1) This act shall become effective at 12:01 A.M. on February 1, 1982. (2) As used in this Article 11: (a) The term “old U.C.C.” means Sections 7-1-105, 7-1-201, 7-2-107, 7-5-116, 7-9-102, 7-9-103, 7-9-104, 7-9-105, 7-9-106, 7-9-203, 7-9-204, 7-9-205, 7-9-301, 7-9-302, 7-9-304, 7-9-305, 7-9-306, 7-9-307, 7-9-308, 7-9-310, 7-9-312, 7-9-313, 7-9-318, […]
Section 7-11-102 – Preservation of Old Transition Provision.
Section 7-11-102 Preservation of old transition provision. The provisions of Section 7-10-102 shall continue to apply to the new U.C.C. and for this purpose the old U.C.C. and new U.C.C. shall be considered one continuous statute. (Acts 1981, No. 81-312, p. 399.)
Section 7-11-103 – Transition to New u.c.c. – General Rule.
Section 7-11-103 Transition to new U.C.C. – General rule. Transactions validly entered into after the effective date of the old U.C.C. and before February 1, 1982, and which were subject to the provisions of the old U.C.C. and which would be subject to this act as amended if they had been entered into after February […]
Section 7-11-104 – Transition Provision on Change of Requirement of Filing.
Section 7-11-104 Transition provision on change of requirement of filing. A security interest for the perfection of which filing or the taking of possession was required under the old U.C.C. and which attached prior to February 1, 1982, but was not perfected shall be deemed perfected on February 1, 1982, if the new U.C.C. permits […]
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 7-9A-608 – Application of Proceeds of Collection or Enforcement; Liability for Deficiency and Right to Surplus.
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. If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application […]
Section 7-9A-624 – Waiver.
Section 7-9A-624 Waiver. (a) Waiver of disposition notification. A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 7-9A-611 only by an agreement to that effect entered into and authenticated after default. (b) Waiver of mandatory disposition. A debtor may waive the right to require disposition of collateral […]
Section 7-9A-803 – Security Interest Perfected Before July 1, 2014.
Section 7-9A-803 Security interest perfected before July 1, 2014. (a) Continuing perfection: perfection requirements satisfied. A security interest that is a perfected security interest immediately before July 1, 2014, is a perfected security interest under Article 9A as amended by Act 2014-374 if, when Act 2014-374 takes effect, the applicable requirements for attachment and perfection […]
Section 7-9A-609 – Secured Party’s Right to Take Possession After Default.
Section 7-9A-609 Secured party’s right to take possession after default. (a) Possession; rendering equipment unusable; disposition on debtor’s premises. After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under Section 7-9A-610. (b) Judicial and nonjudicial process. […]