Title 7 — Commercial Code

title-7Ala. Code tit. 7Code1 de jan. de 1900

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Article 1 General Provisions

Part 1 Short Title, Construction, Application and Subject Matter of the Title

§ 7-1-101 Short Titles
§ 7-1-102 Scope of Article
§ 7-1-103 Construction of Uniform Commercial Code to Promote Its Purposes and Policies; Applicability of Supplemental Principles of Law
§ 7-1-104 Construction Against Implied Repeal
§ 7-1-105 Severability
§ 7-1-106 Use of Singular and Plural; Gender
§ 7-1-107 Section Captions
§ 7-1-108 Relation to Electronic Signatures in Global and National Commerce Act
§ 7-1-109 Section Captions

Part 2 General Definitions and Principles of Interpretation

§ 7-1-201 General Definitions
§ 7-1-202 Notice; Knowledge
§ 7-1-203 Lease Distinguished from Security Interest
§ 7-1-204 Value
§ 7-1-205 Reasonable Time; Seasonableness
§ 7-1-206 Presumptions
§ 7-1-207 Performance or Acceptance Under Reservation of Rights
§ 7-1-208 Option to Accelerate at Will

Part 3 Territorial Applicability; Parties’ Power to Choose Applicable Law

§ 7-1-301 Territorial Applicability; Parties’ Power to Choose Applicable Law
§ 7-1-302 Variation by Agreement
§ 7-1-303 Course of Performance, Course of Dealing, and Usage of Trade
§ 7-1-304 Obligation of Good Faith
§ 7-1-305 Remedies to Be Liberally Administered
§ 7-1-306 Waiver or Renunciation of Claim or Right After Breach
§ 7-1-307 Prima Facie Evidence by Third-Party Documents
§ 7-1-308 Performance or Acceptance Under Reservation of Rights
§ 7-1-309 Option to Accelerate at Will
§ 7-1-310 Subordinated Obligations

Article 2 Sales

Part 1 Short Title, General Construction, and Subject Matter

§ 7-2-101 Short Title
§ 7-2-102 Scope; Certain Security and Other Transactions Excluded from This Article
§ 7-2-103 Definitions and Index of Definitions
§ 7-2-104 Definitions: “Merchant”; “Between Merchants”; “Financing Agency.”
§ 7-2-105 Definitions: “Transferability”; “Goods”; “Future Goods”; “Lot”; “Commercial Unit.”
§ 7-2-106 Definitions: “Contract”; “Agreement”; “Contract for Sale”; “Sale”; “Present Sale”; “Conforming” to Contract; “Termination”; “Cancellation”; “Hybrid Transaction.”
§ 7-2-107 Goods to Be Severed from Realty; Recording

Part 2 Form, Formation, and Readjustment of Contract

§ 7-2-201 Formal Requirements; Statute of Frauds
§ 7-2-202 Final Expression: Parol or Extrinsic Evidence
§ 7-2-203 Seals Inoperative
§ 7-2-204 Formation in General
§ 7-2-205 Firm Offers
§ 7-2-206 Offer and Acceptance in Formation of Contract
§ 7-2-207 Additional Terms in Acceptance or Confirmation
§ 7-2-208 Course of Performance or Practical Construction
§ 7-2-209 Modification, Rescission, and Waiver
§ 7-2-210 Delegation of Performance; Assignment of Rights

Part 3 General Obligation and Construction of Contract

§ 7-2-301 General Obligations of Parties
§ 7-2-302 Unconscionable Contract or Clause
§ 7-2-303 Allocation or Division of Risks
§ 7-2-304 Price Payable in Money, Goods, Realty, or Otherwise
§ 7-2-305 Open Price Term
§ 7-2-306 Output, Requirements, and Exclusive Dealings
§ 7-2-307 Delivery in Single Lot or Several Lots
§ 7-2-308 Absence of Specified Place for Delivery
§ 7-2-309 Absence of Specific Time Provisions; Notice of Termination
§ 7-2-310 Open Time for Payment or Running of Credit; Authority to Ship Under Reservation
§ 7-2-311 Options and Cooperation Respecting Performance
§ 7-2-312 Warranty of Title and Against Infringement; Buyer’s Obligation Against Infringement
§ 7-2-313 Express Warranties by Affirmation, Promise, Description, Sample
§ 7-2-314 Implied Warranty: Merchantability; Usage of Trade; Human Blood and Tissues
§ 7-2-315 Implied Warranty: Fitness for Particular Purpose
§ 7-2-316 Exclusion or Modification of Warranties
§ 7-2-317 Cumulation and Conflict of Warranties Express or Implied
§ 7-2-318 Third-Party Beneficiaries of Warranties Express or Implied
§ 7-2-319 F.o.b. and F.a.s. Terms
§ 7-2-320 C.i.f. and C. & F. Terms
§ 7-2-321 C.i.f. or C. & F.: “Net Landed Weights”; “Payment on Arrival”; Warranty of Condition on Arrival
§ 7-2-322 Delivery “Ex-Ship”
§ 7-2-323 Form of Bill of Lading Required in Overseas Shipment; “Overseas.”
§ 7-2-324 “No Arrival, No Sale” Term
§ 7-2-325 “Letter of Credit” Term; “Confirmed Credit.”
§ 7-2-326 “Sale on Approval” and “Sale or Return.”
§ 7-2-327 Special Incidents of Sale on Approval and Sale or Return
§ 7-2-328 Sale by Auction

Part 4 Title, Creditors, and Good Faith Purchasers

§ 7-2-401 Passing of Title; Reservation for Security; Limited Application of This Section
§ 7-2-402 Rights of Seller’s Creditors Against Sold Goods
§ 7-2-403 Power to Transfer; Good Faith Purchase of Goods; “Entrusting.”

Part 5 Performance

§ 7-2-501 Insurable Interest in Goods; Manner of Identification of Goods
§ 7-2-502 Buyer’s Right to Goods
§ 7-2-503 Manner of Seller’s Tender of Delivery
§ 7-2-504 Shipment by Seller
§ 7-2-505 Seller’s Shipment Under Reservation
§ 7-2-506 Rights of Financing Agency
§ 7-2-507 Effect of Seller’s Tender; Delivery on Condition
§ 7-2-508 Cure by Seller of Improper Tender or Delivery; Replacement
§ 7-2-509 Risk of Loss in the Absence of Breach
§ 7-2-510 Effect of Breach on Risk of Loss
§ 7-2-511 Tender of Payment by Buyer; Payment by Check
§ 7-2-512 Payment by Buyer Before Inspection
§ 7-2-513 Buyer’s Right to Inspection of Goods
§ 7-2-514 When Documents Deliverable on Acceptance; When on Payment
§ 7-2-515 Preserving Evidence of Goods in Dispute

Part 6 Breach, Repudiation, and Excuse

§ 7-2-601 Buyer’s Rights on Improper Delivery
§ 7-2-602 Manner and Effect of Rightful Rejection
§ 7-2-603 Merchant Buyer’s Duties as to Rightfully Rejected Goods
§ 7-2-604 Buyer’s Options as to Salvage of Rightfully Rejected Goods
§ 7-2-605 Waiver of Buyer’s Objections by Failure to Particularize
§ 7-2-606 What Constitutes Acceptance of Goods
§ 7-2-607 Effect of Acceptance; Notice of Breach; Burden of Establishing Breach After Acceptance; Notice of Claim or Litigation to Person Answerable Over
§ 7-2-608 Revocation of Acceptance in Whole or in Part
§ 7-2-609 Right to Adequate Assurance of Performance
§ 7-2-610 Anticipatory Repudiation
§ 7-2-611 Retraction of Anticipatory Repudiation
§ 7-2-612 “Installment Contract”; Breach
§ 7-2-613 Casualty to Identified Goods
§ 7-2-614 Substituted Performance
§ 7-2-615 Excuse by Failure of Presupposed Conditions
§ 7-2-616 Procedure on Notice Claiming Excuse

Part 7 Remedies

§ 7-2-701 Remedies for Breach of Collateral Contracts Not Impaired
§ 7-2-702 Seller’s Remedies on Discovery of Buyer’s Insolvency
§ 7-2-703 Seller’s Remedies in General
§ 7-2-704 Seller’s Right to Identify Goods to the Contract Notwithstanding Breach or to Salvage Unfinished Goods
§ 7-2-705 Seller’s Stoppage of Delivery in Transit or Otherwise
§ 7-2-706 Seller’s Resale Including Contract for Resale
§ 7-2-707 “Person in the Position of a Seller.”
§ 7-2-708 Seller’s Damages for Nonacceptance or Repudiation
§ 7-2-709 Action for the Price
§ 7-2-710 Seller’s Incidental Damages
§ 7-2-711 Buyer’s Remedies in General; Buyer’s Security Interest in Rejected Goods
§ 7-2-712 “Cover”; Buyer’s Procurement of Substitute Goods
§ 7-2-713 Buyer’s Damages for Nondelivery or Repudiation
§ 7-2-714 Buyer’s Damages for Breach in Regard to Accepted Goods
§ 7-2-715 Buyer’s Incidental and Consequential Damages
§ 7-2-716 Buyer’s Right to Specific Performance or Replevin
§ 7-2-717 Deduction of Damages from the Price
§ 7-2-718 Liquidation or Limitation of Damages; Deposits
§ 7-2-719 Contractual Modification or Limitation of Remedy
§ 7-2-720 Effect of “Cancellation” or “Rescission” on Claims for Antecedent Breach
§ 7-2-721 Remedies for Fraud
§ 7-2-722 Who Can Sue Third Parties for Injury to Goods
§ 7-2-723 Proof of Market Price: Time and Place
§ 7-2-724 Admissibility of Market Quotations
§ 7-2-725 Statute of Limitations in Contracts for Sale

Article 2A Leases

Part 1 General Provisions

§ 7-2A-101 Short Title
§ 7-2A-102 Scope
§ 7-2A-103 Definitions and Index of Definitions
§ 7-2A-104 Leases Subject to Other Statutes
§ 7-2A-105 Territorial Application of Article to Goods Covered by Certificate of Title
§ 7-2A-106 Limitation on Power of Parties to Consumer Lease to Choose Applicable Law and Judicial Forum
§ 7-2A-107 Waiver or Renunciation of Claim or Right After Default
§ 7-2A-108 Unconscionability
§ 7-2A-109 Option to Accelerate at Will

Part 2 Formation and Construction of Lease Contract

§ 7-2A-201 Statute of Frauds
§ 7-2A-202 Final Expression: Parol or Extrinsic Evidence
§ 7-2A-203 Seals Inoperative
§ 7-2A-204 Formation in General
§ 7-2A-205 Firm Offers
§ 7-2A-206 Offer and Acceptance in Formation of Lease Contract
§ 7-2A-207 Course of Performance or Practical Construction
§ 7-2A-208 Modification, Rescission and Waiver
§ 7-2A-209 Lessee Under Finance Lease as Beneficiary of Supply Contract
§ 7-2A-210 Express Warranties
§ 7-2A-211 Warranties Against Interference and Against Infringement; Lessee’s Obligation Against Infringement
§ 7-2A-212 Implied Warranty of Merchantability
§ 7-2A-213 Implied Warranty of Fitness for Particular Purpose
§ 7-2A-214 Exclusion or Modification of Warranties
§ 7-2A-215 Cumulation and Conflict of Warranties Express or Implied
§ 7-2A-216 Third-Party Beneficiaries of Express and Implied Warranties
§ 7-2A-217 Identification
§ 7-2A-218 Insurance and Proceeds
§ 7-2A-219 Risk of Loss
§ 7-2A-220 Effect of Default on Risk of Loss
§ 7-2A-221 Casualty to Identified Goods

Part 3 Effect of Lease Contract

§ 7-2A-301 Enforceability of Lease Contract
§ 7-2A-302 Title to and Possession of Goods
§ 7-2A-303 Alienability of Interests, Transfer of Rights, Etc
§ 7-2A-304 Subsequent Lease of Goods by Lessor
§ 7-2A-305 Sale or Sublease of Goods by Lessee
§ 7-2A-306 Priority of Certain Liens Arising by Operation of Law
§ 7-2A-307 Priority Over Lease Contract
§ 7-2A-308 Special Rights of Creditors
§ 7-2A-309 Lessor’s and Lessee’s Rights When Goods Become Fixtures
§ 7-2A-310 Lessor’s and Lessee’s Rights When Goods Become Accessions
§ 7-2A-311 Priority Subject to Subordination

Part 4 Performance of Lease Contract: Repudiated, Substituted and Excused

§ 7-2A-401 Insecurity: Adequate Assurance of Performance
§ 7-2A-402 Anticipatory Repudiation
§ 7-2A-403 Retraction of Anticipatory Repudiation
§ 7-2A-404 Substituted Performance
§ 7-2A-405 Excused Performance
§ 7-2A-406 Procedure on Excused Performance
§ 7-2A-407 Irrevocable Promises: Finance Leases

Part 5 Default

Division A In General

§ 7-2A-501 Default: Procedure
§ 7-2A-502 Notice After Default
§ 7-2A-503 Modification or Impairment of Rights and Remedies
§ 7-2A-504 Liquidation of Damages
§ 7-2A-505 Cancellation and Termination and Effect of Cancellation, Termination, Rescission, or Fraud on Rights and Remedies
§ 7-2A-506 Statute of Limitations
§ 7-2A-507 Proof of Market Rent: Time and Place

Division B Default by Lessor

§ 7-2A-508 Lessee’s Remedies
§ 7-2A-509 Lessee’s Rights on Improper Delivery; Rightful Rejection
§ 7-2A-510 Installment Lease Contracts: Rejection and Default
§ 7-2A-511 Merchant Lessee’s Duties as to Rightfully Rejected Goods
§ 7-2A-512 Lessee’s Duties as to Rightfully Rejected Goods
§ 7-2A-513 Cure by Lessor of Improper Tender or Delivery; Replacement
§ 7-2A-514 Waiver of Lessee’s Objections
§ 7-2A-515 Acceptance of Goods
§ 7-2A-516 Effect of Acceptance of Goods; Notice of Default; Burden of Establishing Default After Acceptance; Notice of Claim or Litigation to Person Answerable Over
§ 7-2A-517 Revocation of Acceptance of Goods
§ 7-2A-518 Cover; Substitute Goods
§ 7-2A-519 Lessee’s Damages for Nondelivery, Repudiation, Default, and Breach of Warranty in Regard to Accepted Goods
§ 7-2A-520 Lessee’s Incidental and Consequential Damages
§ 7-2A-521 Lessee’s Right to Specific Performance or Replevin
§ 7-2A-522 Lessee’s Right to Goods on Lessor’s Insolvency

Division C Default by Lessee

§ 7-2A-523 Lessor’s Remedies
§ 7-2A-524 Lessor’s Right to Identify Goods to Lease Contract
§ 7-2A-525 Lessor’s Right to Possession of Goods
§ 7-2A-526 Lessor’s Stoppage of Delivery in Transit or Otherwise
§ 7-2A-527 Lessor’s Rights to Dispose of Goods
§ 7-2A-528 Lessor’s Damages for Nonacceptance, Failure to Pay, Repudiation, or Other Default
§ 7-2A-529 Lessor’s Action for the Rent
§ 7-2A-530 Lessor’s Incidental Damages
§ 7-2A-531 Standing to Sue Third Parties for Injury to Goods
§ 7-2A-532 Lessor’s Rights to Residual Interest

Article 3 Negotiable Instruments

Part 1 General Provisions and Definitions

§ 7-3-101 Short Title
§ 7-3-102 Subject Matter
§ 7-3-103 Definitions
§ 7-3-104 Negotiable Instrument
§ 7-3-105 Issue of Instrument
§ 7-3-106 Unconditional Promise or Order
§ 7-3-107 Instrument Payable in Foreign Money
§ 7-3-108 Payable on Demand or at Definite Time
§ 7-3-109 Payable to Bearer or to Order
§ 7-3-110 Identification of Person to Whom Instrument Is Payable
§ 7-3-111 Place of Payment
§ 7-3-112 Interest
§ 7-3-113 Date of Instrument
§ 7-3-114 Contradictory Terms of Instrument
§ 7-3-115 Incomplete Instrument
§ 7-3-116 Joint and Several Liability; Contribution
§ 7-3-117 Other Agreements Affecting Instrument
§ 7-3-118 Statute of Limitations
§ 7-3-119 Notice of Right to Defend Action

Part 2 Negotiation, Transfer, and Indorsement

§ 7-3-201 Negotiation
§ 7-3-202 Negotiation Subject to Rescission
§ 7-3-203 Transfer of Instrument; Rights Acquired by Transfer
§ 7-3-204 Indorsement
§ 7-3-205 Special Indorsement; Blank Indorsement; Anomalous Indorsement
§ 7-3-206 Restrictive Indorsement
§ 7-3-207 Reacquisition

Part 3 Enforcement of Instruments

§ 7-3-301 Person Entitled to Enforce Instrument
§ 7-3-302 Holder in Due Course
§ 7-3-303 Value and Consideration
§ 7-3-304 Overdue Instrument
§ 7-3-305 Defenses and Claims in Recoupment
§ 7-3-306 Claims to an Instrument
§ 7-3-307 Notice of Breach of Fiduciary Duty
§ 7-3-308 Proof of Signatures and Status as Holder in Due Course
§ 7-3-309 Enforcement of Lost, Destroyed, or Stolen Instrument
§ 7-3-310 Effect of Instrument on Obligation for Which Taken
§ 7-3-311 Accord and Satisfaction by Use of Instrument
§ 7-3-312 Lost, Destroyed, or Stolen Cashier’s Check, Teller’s Check, or Certified Check

Part 4 Liability of Parties

§ 7-3-401 Signature Necessary for Liability on Instrument
§ 7-3-402 Signature by Representative
§ 7-3-403 Unauthorized Signature
§ 7-3-404 Impostors; Fictitious Payees
§ 7-3-405 Employer’s Responsibility for Fraudulent Indorsement by Employee
§ 7-3-406 Negligence Contributing to Forged Signature or Alteration of Instrument
§ 7-3-407 Alteration
§ 7-3-408 Drawee Not Liable on Unaccepted Draft
§ 7-3-409 Acceptance of Draft; Certified Check
§ 7-3-410 Acceptance Varying Draft
§ 7-3-411 Refusal to Pay Cashier’s Checks, Teller’s Checks, and Certified Checks
§ 7-3-412 Obligation of Issuer of Note or Cashier’s Check
§ 7-3-413 Obligation of Acceptor
§ 7-3-414 Obligation of Drawer
§ 7-3-415 Obligation of Indorser
§ 7-3-416 Transfer Warranties
§ 7-3-417 Presentment Warranties
§ 7-3-418 Payment or Acceptance by Mistake
§ 7-3-419 Instruments Signed for Accommodation
§ 7-3-420 Conversion of Instrument

Part 5 Dishonor

§ 7-3-501 Presentment
§ 7-3-502 Dishonor
§ 7-3-503 Notice of Dishonor
§ 7-3-504 Excused Presentment and Notice of Dishonor
§ 7-3-505 Evidence of Dishonor

Part 6 Discharge and Payment

§ 7-3-601 Discharge and Effect of Discharge
§ 7-3-602 Payment
§ 7-3-603 Tender of Payment
§ 7-3-604 Discharge by Cancellation or Renunciation
§ 7-3-605 Discharge of Indorsers and Accommodation Parties

Article 4 Bank Deposits and Collections

Part 1 General Provisions and Definitions

§ 7-4-101 Short Title
§ 7-4-102 Applicability
§ 7-4-103 Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care
§ 7-4-104 Definitions and Index of Definitions
§ 7-4-105 “Bank”; “Depositary Bank”; “Payor Bank”; “Intermediary Bank”; “Collecting Bank”; “Presenting Bank.”
§ 7-4-106 Payable through or Payable at Bank; Collecting Bank
§ 7-4-107 Separate Office of Bank
§ 7-4-108 Time of Receipt of Items
§ 7-4-109 Delays
§ 7-4-110 Electronic Presentment
§ 7-4-111 Statute of Limitations; Accrual of Action

Part 2 Collection of Items: Depositary and Collecting Banks

§ 7-4-201 Status of Collecting Bank as Agent and Provisional Status of Credits, Applicability of Article; Item Indorsed “Pay Any Bank.”
§ 7-4-202 Responsibility for Collection or Return; When Action Timely
§ 7-4-203 Effect of Instructions
§ 7-4-204 Methods of Sending and Presenting; Sending Directly to Payor Bank
§ 7-4-205 Depositary Bank Holder of Unindorsed Item
§ 7-4-206 Transfer Between Banks
§ 7-4-207 Transfer Warranties
§ 7-4-208 Presentment Warranties
§ 7-4-209 Encoding and Retention Warranties
§ 7-4-210 Security Interest of Collecting Bank in Items, Accompanying Documents, and Proceeds
§ 7-4-211 When Bank Gives Value for Purposes of Holder in Due Course
§ 7-4-212 Presentment by Notice of Item Not Payable By, Through, or at Bank; Liability of Drawer or Indorser
§ 7-4-213 Medium and Time of Settlement by Bank
§ 7-4-214 Right of Charge-Back or Refund; Liability of Collecting Bank; Return of Item
§ 7-4-215 Final Payment of Item by Payor Bank; When Provisional Debits and Credits Become Final; When Certain Credits Become Available for Withdrawal
§ 7-4-216 Insolvency and Preference

Part 3 Collection of Items: Payor Banks

§ 7-4-301 Deferred Posting; Recovery of Payment by Return of Items; Time of Dishonor; Return of Items by Payor Bank
§ 7-4-302 Payor Bank’s Responsibility for Late Return of Item
§ 7-4-303 When Items Subject to Notice, Stop-Payment Order, Legal Process, or Setoff; Order in Which Items May Be Charged or Certified

Part 4 Relationship Between Payor Bank and Its Customer

§ 7-4-401 When Bank May Charge Customer’s Account
§ 7-4-402 Bank’s Liability to Customer for Wrongful Dishonor; Time of Determining Insufficiency of Account
§ 7-4-403 Customer’s Right to Stop Payment; Burden of Proof of Loss
§ 7-4-404 Bank Not Obligated to Pay Check More Than Six Months Old
§ 7-4-405 Death or Incompetence of Customer
§ 7-4-406 Customer’s Duty to Discover and Report Unauthorized Signature or Alteration
§ 7-4-407 Payor Bank’s Right to Subrogation on Improper Payment

Part 5 Collection of Documentary Drafts

§ 7-4-501 Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor
§ 7-4-502 Presentment of “On Arrival” Drafts
§ 7-4-503 Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case of Need
§ 7-4-504 Privilege of Presenting Bank to Deal with Goods; Security Interest for Expenses

Article 4A Funds Transfers

Part 1 Subject Matter and Definitions

§ 7-4A-101 Short Title
§ 7-4A-102 Subject Matter
§ 7-4A-103 Payment Order - Definitions
§ 7-4A-104 Funds Transfer - Definitions
§ 7-4A-105 Other Definitions
§ 7-4A-106 Time Payment Order Is Received
§ 7-4A-107 Federal Reserve Regulations and Operating Circulars
§ 7-4A-108 Applicability to Consumer Transactions Governed by Federal Law

Part 2 Issue and Acceptance of Payment Order

§ 7-4A-201 Security Procedure
§ 7-4A-202 Authorized and Verified Payment Orders
§ 7-4A-203 Unenforceability of Certain Verified Payment Orders
§ 7-4A-204 Refund of Payment and Duty of Customer to Report with Respect to Unauthorized Payment Order
§ 7-4A-205 Erroneous Payment Orders
§ 7-4A-206 Transmission of Payment Order through Funds-Transfer or Other Communication System
§ 7-4A-207 Misdescription of Beneficiary
§ 7-4A-208 Misdescription of Intermediary Bank or Beneficiary’s Bank
§ 7-4A-209 Acceptance of Payment Order
§ 7-4A-210 Rejection of Payment Order
§ 7-4A-211 Cancellation and Amendment of Payment Order
§ 7-4A-212 Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order

Part 3 Execution of Sender’s Payment Order by Receiving Bank

§ 7-4A-301 Execution and Execution Date
§ 7-4A-302 Obligations of Receiving Bank in Execution of Payment Order
§ 7-4A-303 Erroneous Execution of Payment Order
§ 7-4A-304 Duty of Sender to Report Erroneously Executed Payment Order
§ 7-4A-305 Liability for Late or Improper Execution or Failure to Execute Payment Order

Part 4 Payment

§ 7-4A-401 Payment Date
§ 7-4A-402 Obligation of Sender to Pay Receiving Bank
§ 7-4A-403 Payment by Sender to Receiving Bank
§ 7-4A-404 Obligation of Beneficiary’s Bank to Pay and Give Notice to Beneficiary
§ 7-4A-405 Payment by Beneficiary’s Bank to Beneficiary
§ 7-4A-406 Payment by Originator to Beneficiary; Discharge of Underlying Obligation

Part 5 Miscellaneous Provisions

§ 7-4A-501 Variation by Agreement and Effect of Funds-Transfer System Rule
§ 7-4A-502 Creditor Process Served on Receiving Bank; Setoff by Beneficiary’s Bank
§ 7-4A-503 Injunction or Restraining Order with Respect to Funds Transfer
§ 7-4A-504 Order in Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals from Account
§ 7-4A-505 Preclusion of Objection to Debit of Customer’s Account
§ 7-4A-506 Rate of Interest
§ 7-4A-507 Choice of Law

Part 6 Uniformity

§ 7-4A-601 Uniformity of Application and Construction

Article 5 Letters of Credit

§ 7-5-101 Short Title
§ 7-5-102 Definitions
§ 7-5-103 Scope
§ 7-5-104 Formal Requirements
§ 7-5-105 Consideration
§ 7-5-106 Issuance, Amendment, Cancellation, and Duration
§ 7-5-107 Confirmer, Nominated Person, and Adviser
§ 7-5-108 Issuer’s Rights and Obligations
§ 7-5-109 Fraud and Forgery
§ 7-5-110 Warranties
§ 7-5-111 Remedies
§ 7-5-112 Transfer of Letter of Credit
§ 7-5-113 Transfer by Operation of Law
§ 7-5-114 Assignment of Proceeds
§ 7-5-115 Statute of Limitations
§ 7-5-116 Choice of Law and Forum
§ 7-5-117 Subrogation of Issuer, Applicant, and Nominated Person
§ 7-5-118 Security Interest of Issuer or Nominated Person

Article 7 Warehouse Receipts, Bills of Lading and Other Documents of Title

Part 1 General

§ 7-7-101 Short Title
§ 7-7-102 Definitions and Index of Definitions
§ 7-7-103 Relation of Article to Treaty or Statute
§ 7-7-104 Negotiable and Nonnegotiable Document of Title
§ 7-7-105 Reissuance in Alternative Medium
§ 7-7-106 Control of Electronic Document of Title

Part 2 Warehouse Receipts: Special Provisions

§ 7-7-201 Person That May Issue a Warehouse Receipt; Storage Under Bond
§ 7-7-202 Form of Warehouse Receipt; Effect of Omission
§ 7-7-203 Liability for Nonreceipt or Misdescription
§ 7-7-204 Duty of Care; Contractual Limitation of Warehouse’s Liability
§ 7-7-205 Title Under Warehouse Receipt Defeated in Certain Cases
§ 7-7-206 Termination of Storage at Warehouse’s Option
§ 7-7-207 Goods Must Be Kept Separate; Fungible Goods
§ 7-7-208 Altered Warehouse Receipts
§ 7-7-209 Lien of Warehouse
§ 7-7-210 Enforcement of Warehouse’s Lien

Part 3 Bills of Lading: Special Provisions

§ 7-7-301 Liability for Nonreceipt or Misdescription; “Said to Contain”; “Shipper’s Weight, Load, and Count”; Improper Handling
§ 7-7-302 Through Bills of Lading and Similar Documents of Title
§ 7-7-303 Diversion; Reconsignment; Change of Instructions
§ 7-7-304 Tangible Bills of Lading in a Set
§ 7-7-305 Destination Bills
§ 7-7-306 Altered Bills of Lading
§ 7-7-307 Lien of Carrier
§ 7-7-308 Enforcement of Carrier’s Lien
§ 7-7-309 Duty of Care; Contractual Limitation of Carrier’s Liability

Part 4 Warehouse Receipts and Bills of Lading: General Obligations

§ 7-7-401 Irregularities in Issue of Receipt or Bill or Conduct of Issuer
§ 7-7-402 Duplicate Document of Title; Overissue
§ 7-7-403 Obligation of Bailee to Deliver; Excuse
§ 7-7-404 No Liability for Good Faith Delivery Pursuant to Document of Title

Part 5 Warehouse Receipts and Bills of Lading: Negotiation and Transfer

§ 7-7-501 Form of Negotiation and Requirements of Due Negotiation
§ 7-7-502 Rights Acquired by Due Negotiation
§ 7-7-503 Document of Title to Goods Defeated in Certain Cases
§ 7-7-504 Rights Acquired in Absence of Due Negotiation; Effect of Diversion; Stoppage of Delivery
§ 7-7-505 Indorser Not Guarantor for Other Parties
§ 7-7-506 Delivery Without Indorsement: Right to Compel Indorsement
§ 7-7-507 Warranties on Negotiation or Delivery of Document of Title
§ 7-7-508 Warranties of Collecting Bank as to Documents of Title
§ 7-7-509 Adequate Compliance with Commercial Contract

Part 6 Warehouse Receipts and Bills of Lading: Miscellaneous Provisions

§ 7-7-601 Lost, Stolen, or Destroyed Documents of Title
§ 7-7-602 Judicial Process Against Goods Covered by Negotiable Document of Title
§ 7-7-603 Conflicting Claims; Interpleader

Part 7 Miscellanous Provisions

§ 7-7-701 Effective Date
§ 7-7-702 Repeals
§ 7-7-703 Applicability
§ 7-7-704 Savings Clause

Article 8 Investment Securities

Part 1 Short Title and General Matters

§ 7-8-101 Short Title
§ 7-8-102 Definitions and Index of Definitions
§ 7-8-103 Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets
§ 7-8-104 Acquisition of Security or Financial Asset or Interest Therein
§ 7-8-105 Notice of Adverse Claim
§ 7-8-106 Control
§ 7-8-107 Whether Indorsement, Instruction, or Entitlement Order Is Effective
§ 7-8-108 Warranties in Direct Holding
§ 7-8-109 Warranties in Indirect Holding
§ 7-8-110 Applicability; Choice of Law
§ 7-8-111 Clearing Corporation Rules
§ 7-8-112 Creditor’s Legal Process
§ 7-8-113 Statute of Frauds Inapplicable
§ 7-8-114 Evidentiary Rules Concerning Certificated Securities
§ 7-8-115 Securities Intermediary and Others Not Liable to Adverse Claimant
§ 7-8-116 Securities Intermediary as Purchaser for Value

Part 2 Issue and Issuer

§ 7-8-201 Issuer
§ 7-8-202 Issuer’s Responsibility and Defenses; Notice of Defect or Defense
§ 7-8-203 Staleness as Notice of Defect or Defense
§ 7-8-204 Effect of Issuer’s Restriction on Transfer
§ 7-8-205 Effect of Unauthorized Signature on Security Certificate
§ 7-8-206 Completion or Alteration of Security Certificate
§ 7-8-207 Rights and Duties of Issuer with Respect to Registered Owners
§ 7-8-208 Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent
§ 7-8-209 Issuer’s Lien
§ 7-8-210 Overissue

Part 3 Transfer of Certificated and Uncertificated Securities

§ 7-8-301 Delivery
§ 7-8-302 Rights of Purchaser
§ 7-8-303 Protected Purchaser
§ 7-8-304 Indorsement
§ 7-8-305 Instruction
§ 7-8-306 Effect of Guaranteeing Signature, Indorsement, or Instruction
§ 7-8-307 Purchaser’s Right to Requisites for Registration of Transfer

Part 4 Registration

§ 7-8-401 Duty of Issuer to Register Transfer
§ 7-8-402 Assurance That Indorsement or Instruction Is Effective
§ 7-8-403 Demand That Issuer Not Register Transfer
§ 7-8-404 Wrongful Registration
§ 7-8-405 Replacement of Lost, Destroyed, or Wrongfully Taken Security Certificate
§ 7-8-406 Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate
§ 7-8-407 Authenticating Trustee, Transfer Agent, and Registrar

Part 5 Security Entitlements

§ 7-8-501 Securities Account; Acquisition of Security Entitlement from Securities Intermediary
§ 7-8-502 Assertion of Adverse Claim Against Entitlement Holder
§ 7-8-503 Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary
§ 7-8-504 Duty of Securities Intermediary to Maintain Financial Asset
§ 7-8-505 Duty of Securities Intermediary with Respect to Payments and Distributions
§ 7-8-506 Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder
§ 7-8-507 Duty of Securities Intermediary to Comply with Entitlement Order
§ 7-8-508 Duty of Securities Intermediary to Change Entitlement Holder’s Position to Other Form of Security Holding
§ 7-8-509 Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exercise of Rights of Entitlement Holder
§ 7-8-510 Rights of Purchaser of Security Entitlement from Entitlement Holder
§ 7-8-511 Priority Among Security Interests and Entitlement Holders

Part 6 Effective Date

§ 7-8-601 Effective Date
§ 7-8-602 Repeals
§ 7-8-603 Savings Clause

Article 9 Secured Transactions; Sales of Accounts and Chattel Paper

Part 1 Short Title, Applicability and Definitions

§ 7-9-101 Short Title
§ 7-9-102 Policy and Subject Matter of Article
§ 7-9-103 Perfection of Security Interests in Multiple State Transactions
§ 7-9-104 Transactions Excluded from Article
§ 7-9-105 Definitions and Index of Definitions
§ 7-9-106 Definitions: “Account”; “General Intangibles.”
§ 7-9-107 Definitions: “Purchase Money Security Interest.”
§ 7-9-108 When After-Acquired Collateral Not Security for Antecedent Debt
§ 7-9-109 Classification of Goods; “Consumer Goods”; “Equipment”; “Farm Products”; “Inventory”
§ 7-9-110 Sufficiency of Description
§ 7-9-111 Applicability of Bulk Transfer Laws
§ 7-9-112 Where Collateral Is Not Owned by Debtor
§ 7-9-113 Security Interests Arising Under the Article on Sales or Under the Article on Leases
§ 7-9-114 Consignment
§ 7-9-115 Investment Property
§ 7-9-116 Security Interest Arising in Purchase or Delivery of Financial Asset

Part 2 Validity of Security Agreement and Rights of Parties Thereto

§ 7-9-201 General Validity of Security Agreement
§ 7-9-202 Title to Collateral Immaterial
§ 7-9-203 Attachment and Enforceability of Security Interest; Proceeds; Formal Requisites
§ 7-9-204 After-Acquired Property; Future Advances
§ 7-9-205 Use or Disposition of Collateral Without Accounting Permissible
§ 7-9-206 Agreement Not to Assert Defenses Against Assignee; Modification of Sales Warranties Where Security Agreement Exists
§ 7-9-207 Rights and Duties When Collateral Is in Secured Party’s Possession
§ 7-9-208 Request for Statement of Account or List of Collateral

Part 3 Rights of Third Parties; Perfected and Unperfected Security Interests; Rules of Priority

§ 7-9-301 Persons Who Take Priority Over Unperfected Security Interests; “Lien Creditor.”
§ 7-9-302 When Filing Is Required to Perfect Security Interest; Security Interests to Which Filing Provisions of This Article Do Not Apply
§ 7-9-303 When Security Interest Is Perfected; Continuity of Perfection
§ 7-9-304 Perfection of Security Interest in Instruments, Documents, Proceeds of a Written Letter of Credit, and Goods Covered by Documents; Perfection by Permissive Filing; Temporary Perfection Without Filing or Transfer of Possession
§ 7-9-305 When Possession by Secured Party Perfects Security Interest Without Filing
§ 7-9-306 “Proceeds”; Secured Party’s Rights on Disposition of Collateral
§ 7-9-307 Protection of Buyer of Goods
§ 7-9-308 Purchase of Chattel Paper and Instruments
§ 7-9-309 Protection of Purchasers of Instruments and Documents
§ 7-9-310 Priority of Certain Liens Arising by Operation of Law; Landlord’s Lien
§ 7-9-311 Alienability of Debtor’s Rights: Judicial Process
§ 7-9-312 Priorities Among Conflicting Security Interests in the Same Collateral
§ 7-9-313 Priority of Security Interests in Fixtures
§ 7-9-314 Accessions
§ 7-9-315 Priority When Goods Are Commingled or Processed
§ 7-9-316 Priority Subject to Subordination
§ 7-9-317 Secured Party Not Obligated on Contract of Debtor
§ 7-9-318 Defenses Against Assignee; Modification of Contract After Notification of Assignment; Term Prohibiting Assignment Ineffective; Identification and Proof of Assignment

Part 4 Filing

§ 7-9-401 Place of Filing; Erroneous Filing; Removal of Collateral
§ 7-9-402 Formal Requisites of Financing Statement; Amendments; Mortgage as Financing Statement
§ 7-9-403 What Constitutes Filing; Duration of Filing; Effect of Lapsed Filing; Duties of Filing Officer
§ 7-9-404 Termination Statement
§ 7-9-405 Assignment of Security Interest; Duties of Filing Officer; Fees
§ 7-9-406 Release of Collateral; Duties of Filing Officer; Fees
§ 7-9-407 Information from Filing Officer
§ 7-9-408 Financing Statements Covering Consigned or Leased Goods
§ 7-9-409 Prescribed Fees in Lieu of All Others
§ 7-9-410 Rules and Regulations and Fees to Implement Central Filing System; User and Public Training as to Uniform Commercial Code and Farm Products Central Index System Program

Part 5 Default

§ 7-9-501 Default; Procedure When Security Agreement Covers Both Real and Personal Property
§ 7-9-502 Collection Rights of Secured Party
§ 7-9-503 Secured Party’s Right to Take Possession After Default
§ 7-9-504 Secured Party’s Right to Dispose of Collateral After Default; Effect of Disposition
§ 7-9-505 Compulsory Disposition of Collateral; Acceptance of the Collateral as Discharge of Obligation
§ 7-9-506 Debtor’s Right to Redeem Collateral
§ 7-9-507 Secured Party’s Liability for Failure to Comply with This Part

Article 9A Secured Transactions

Part 1 Secured Transactions

Division 1 Short Title, Definitions, and General Concepts

§ 7-9A-101 Short Title
§ 7-9A-102 Definitions and Index of Definitions
§ 7-9A-103 Purchase-Money Security Interest; Application of Payments; Burden of Establishing
§ 7-9A-104 Control of Deposit Account
§ 7-9A-105 Control of Electronic Chattel Paper
§ 7-9A-106 Control of Investment Property
§ 7-9A-107 Control of Letter-of-Credit Right
§ 7-9A-107A Control of Controllable Electronic Record, Controllable Account, or Controllable Payment Intangible
§ 7-9A-107B No Requirement to Acknowledge or Confirm; No Duties
§ 7-9A-108 Sufficiency of Description

Division 2 Applicability of Article

§ 7-9A-110 Security Interests Arising Under Article 2 or 2A
§ 7-9A-109 Scope

Part 2 Effectiveness of Security Agreement, Attachment of Security Interest; Rights of Parties to Security Agreement

Division 1 Effectiveness and Attachment

§ 7-9A-201 General Effectiveness of Security Agreement
§ 7-9A-202 Title to Collateral Immaterial
§ 7-9A-203 Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites
§ 7-9A-204 After-Acquired Property; Future Advances
§ 7-9A-205 Use or Disposition of Collateral Permissible
§ 7-9A-206 Security Interest Arising in Purchase or Delivery of Financial Asset

Division 2 Rights and Duties

§ 7-9A-207 Rights and Duties of Secured Party Having Possession or Control of Collateral
§ 7-9A-208 Additional Duties of Secured Party Having Control of Collateral
§ 7-9A-209 Duties of Secured Party If Account Debtor Has Been Notified of Assignment
§ 7-9A-210 Request for Accounting; Request Regarding List of Collateral or Statement of Account

Part 3 Perfection and Priority

Division 1 Law Governing Perfection and Priority

§ 7-9A-301 Law Governing Perfection and Priority of Security Interests
§ 7-9A-302 Law Governing Perfection and Priority of Agricultural Liens
§ 7-9A-303 Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title
§ 7-9A-304 Law Governing Perfection and Priority of Security Interests in Deposit Accounts
§ 7-9A-305 Law Governing Perfection and Priority of Security Interests in Investment Property
§ 7-9A-306 Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights
§ 7-9A-306A Law Governing Perfection and Priority of Security Interests in Chattel Paper
§ 7-9A-306B Law Governing Perfection and Priority of Security Interests in Controllable Accounts, Controllable Electronic Records, and Controllable Payment Intangibles
§ 7-9A-307 Location of Debtor

Division 2 Perfection

§ 7-9A-308 When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection
§ 7-9A-309 Security Interest Perfected Upon Attachment
§ 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
§ 7-9A-311 Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties
§ 7-9A-312 Perfection of Security Interests in Chattel Paper, Controllable Accounts, Controllable Electronic Records, Controllable Payment Intangibles, Deposit Accounts, Negotiable Documents, Goods Covered by Documents, Instruments, Investment Property, Letter-of-Credit Rights, and Money; Perfection by Permissive Filing; Temporary Perfection Without Filing or Transfer of Possession
§ 7-9A-313 When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing
§ 7-9A-314 Perfection by Control
§ 7-9A-314A Perfection by Possession and Control of Chattel Paper
§ 7-9A-315 Secured Party’s Rights on Disposition of Collateral and in Proceeds
§ 7-9A-316 Continued Perfection of Security Interest Following Change in Governing Law

Division 3 Priority

§ 7-9A-317 Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien
§ 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
§ 7-9A-319 Rights and Title of Consignee with Respect to Creditors and Purchasers
§ 7-9A-320 Buyer of Goods; Alabama Farmers Credit Protection Fund
§ 7-9A-321 Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business
§ 7-9A-322 Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral
§ 7-9A-323 Future Advances
§ 7-9A-324 Priority of Purchase-Money Security Interests
§ 7-9A-325 Priority of Security Interests in Transferred Collateral
§ 7-9A-326 Priority of Security Interests Created by New Debtor
§ 7-9A-326A Priority of Security Interest in Controllable Account, Controllable Electronic Record, and Controllable Payment Intangible
§ 7-9A-327 Priority of Security Interests in Deposit Account
§ 7-9A-328 Priority of Security Interests in Investment Property
§ 7-9A-329 Priority of Security Interests in Letter-of-Credit Right
§ 7-9A-330 Priority of Purchaser of Chattel Paper or Instrument
§ 7-9A-331 Priority of Rights of Purchasers of Controllable Accounts, Controllable Electronic Records, Controllable Payments Intangibles, Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements, and Protection Against Assertion of Claim Under Articles 8 and 12
§ 7-9A-332 Transfer of Money; Transfer of Funds from Deposit Account
§ 7-9A-333 Priority of Certain Liens Arising by Operation of Law
§ 7-9A-334 Priority of Security Interests in Fixtures and Crops
§ 7-9A-335 Accessions
§ 7-9A-336 Commingled Goods
§ 7-9A-337 Priority of Security Interests in Goods Covered by Certificate of Title
§ 7-9A-338 Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information
§ 7-9A-339 Priority Subject to Subordination

Division 4 Rights of Bank

§ 7-9A-340 Effectiveness of Right of Recoupment or Set-Off Against Deposit Account
§ 7-9A-341 Bank’s Rights and Duties with Respect to Deposit Account
§ 7-9A-342 Bank’s Right to Refuse to Enter into or Disclose Existence of Control Agreement

Part 4 Rights of Third Parties

§ 7-9A-401 Alienability of Debtor’s Rights
§ 7-9A-402 Secured Party Not Obligated on Contract of Debtor or in Tort
§ 7-9A-403 Agreement Not to Assert Defenses Against Assignee
§ 7-9A-404 Rights Acquired by Assignee; Claims and Defenses Against Assignee
§ 7-9A-405 Modification of Assigned Contract
§ 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
§ 7-9A-407 Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor’s Residual Interest
§ 7-9A-408 Restrictions on Assignment of Promissory Notes, Health-Care-Insurance Receivables, and Certain General Intangibles Ineffective
§ 7-9A-409 Restrictions on Assignment of Letter-of-Credit Rights Ineffective

Part 5 Filing

Division 1 Filing; Contents and Effectiveness of Financing Statement

§ 7-9A-501 Filing Office
§ 7-9A-502 Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement
§ 7-9A-503 Name of Debtor and Secured Party
§ 7-9A-504 Indication of Collateral
§ 7-9A-505 Filing and Compliance with Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions
§ 7-9A-506 Effect of Errors or Omissions
§ 7-9A-507 Effect of Certain Events on Effectiveness of Financing Statement
§ 7-9A-508 Effectiveness of Financing Statement If New Debtor Becomes Bound by Security Agreement
§ 7-9A-509 Persons Entitled to File a Record
§ 7-9A-510 Effectiveness of Filed Record
§ 7-9A-511 Secured Party of Record
§ 7-9A-512 Amendment of Financing Statement
§ 7-9A-513 Termination Statement
§ 7-9A-514 Assignment of Powers of Secured Party of Record
§ 7-9A-515 Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement
§ 7-9A-516 What Constitutes Filing; Effectiveness of Filing
§ 7-9A-517 Effect of Indexing Errors
§ 7-9A-518 Claim Concerning Inaccurate or Wrongfully Filed Record

Division 2 Duties and Operation of Filing Office

§ 7-9A-519 Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records
§ 7-9A-520 Acceptance and Refusal to Accept Record
§ 7-9A-521 Uniform Form of Written Financing Statement and Amendment
§ 7-9A-522 Maintenance and Destruction of Records
§ 7-9A-523 Information from Filing Office; Sale or License of Records
§ 7-9A-524 Delay by Filing Office
§ 7-9A-525 Fees
§ 7-9A-526 Filing-Office Rules

Part 6 Default

Division 1 Default and Enforcement of Security Interest

§ 7-9A-601 Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes
§ 7-9A-602 Waiver and Variance of Rights and Duties
§ 7-9A-603 Agreement on Standards Concerning Rights and Duties
§ 7-9A-604 Procedure If Security Agreement Covers Real Property or Fixtures
§ 7-9A-605 Unknown Debtor or Secondary Obligor
§ 7-9A-606 Time of Default for Agricultural Lien
§ 7-9A-607 Collection and Enforcement by Secured Party
§ 7-9A-608 Application of Proceeds of Collection or Enforcement; Liability for Deficiency and Right to Surplus
§ 7-9A-609 Secured Party’s Right to Take Possession After Default
§ 7-9A-610 Disposition of Collateral After Default
§ 7-9A-611 Notification Before Disposition of Collateral
§ 7-9A-612 Timeliness of Notification Before Disposition of Collateral
§ 7-9A-613 Contents and Form of Notification Before Disposition of Collateral: General
§ 7-9A-614 Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction
§ 7-9A-615 Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus
§ 7-9A-616 Explanation of Calculation of Surplus or Deficiency
§ 7-9A-617 Rights of Transferee of Collateral
§ 7-9A-618 Rights and Duties of Certain Secondary Obligors
§ 7-9A-619 Transfer of Record or Legal Title
§ 7-9A-620 Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral
§ 7-9A-621 Notification of Proposal to Accept Collateral
§ 7-9A-622 Effect of Acceptance of Collateral
§ 7-9A-623 Right to Redeem Collateral
§ 7-9A-624 Waiver

Division 2 Noncompliance with Article

§ 7-9A-625 Remedies for Secured Party’s Failure to Comply with Article
§ 7-9A-626 Action in Which Deficiency or Surplus Is in Issue
§ 7-9A-627 Determination of Whether Conduct Was Commercially Reasonable
§ 7-9A-628 Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor

Part 7 Transition

§ 7-9A-701 Effective Date
§ 7-9A-702 Savings Clause
§ 7-9A-703 Security Interest Perfected Before January 1, 2002
§ 7-9A-704 Security Interest Unperfected Before January 1, 2002
§ 7-9A-705 Effectiveness of Action Taken Before January 1, 2002
§ 7-9A-706 When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement
§ 7-9A-707 Amendment of Pre-Effective-Date Financing Statement
§ 7-9A-708 Persons Entitled to File Initial Financing Statement or Continuation Statement
§ 7-9A-709 Priority

Part 8 Transition for 2014 Amendments

§ 7-9A-801 Effective Date
§ 7-9A-802 Savings Clause
§ 7-9A-803 Security Interest Perfected Before July 1, 2014
§ 7-9A-804 Security Interest Unperfected Before Effective Date
§ 7-9A-805 Effectiveness of Action Taken Before Effective Date
§ 7-9A-806 When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement
§ 7-9A-807 Amendment of Pre-effective Date Financing Statement
§ 7-9A-808 Person Entitled to File Initial Financing Statement or Continuation Statement
§ 7-9A-809 Priority

Part 9 The Uniform Assignment for Benefit of Creditors Act

§ 7-9A-901 Short Title
§ 7-9A-902 Definitions
§ 7-9A-903 Scope
§ 7-9A-904 Requirements for Assignee and Assignment Agreement
§ 7-9A-905 Effect of Assignment; When Assignment Effective
§ 7-9A-906 Filing, Recording, and Title Transfer Requirements
§ 7-9A-907 Notification to Creditors
§ 7-9A-908 Duties of Assignor
§ 7-9A-909 Duties of Assignee
§ 7-9A-910 Powers of Assignee
§ 7-9A-911 Allowed Claim
§ 7-9A-912 Disputed and Disallowed Claims
§ 7-9A-913 Proof of Claim
§ 7-9A-914 Rights of Transferees
§ 7-9A-915 Distributions
§ 7-9A-916 Claim Subordination
§ 7-9A-917 Liability
§ 7-9A-918 Assignee Removal; Successor Assignee
§ 7-9A-919 Winding Up
§ 7-9A-920 Interstate Matters
§ 7-9A-921 Court Action
§ 7-9A-922 Ancillary Assignee
§ 7-9A-923 Provisions Variable by Agreement
§ 7-9A-924 Uniformity of Application and Construction
§ 7-9A-925 Relation to Electronic Signatures in Global and National Commerce Act
§ 7-9A-926 Transitional Provision

Article 10 Effective Date and Repealer

§ 7-10-101 Effective Date
§ 7-10-102 Specific Repealer; Provision for Transition
§ 7-10-103 General Repealer
§ 7-10-104 Laws Not
§ 7-10-104 Laws Not

Article 11 Effective Date and Transition Provisions

§ 7-11-101 Effective Date; Definitions
§ 7-11-102 Preservation of Old Transition Provision
§ 7-11-103 Transition to New U.c.c. - General Rule
§ 7-11-104 Transition Provision on Change of Requirement of Filing
§ 7-11-105 Transition Provision on Change of Place of Filing
§ 7-11-106 Required Refilings
§ 7-11-107 Transition Provisions as to Priorities
§ 7-11-108 Presumption That Rule of Law Continues Unchanged

Article 12 Controllable Electronic Records

§ 7-12-101 Short Title
§ 7-12-102 Definitions
§ 7-12-103 Relation to Article 9A and Consumer Laws
§ 7-12-104 Rights in Controllable Account, Controllable Electronic Record, and Controllable Payment Intangible
§ 7-12-105 Control of Controllable Electronic Record
§ 7-12-106 Discharge of Account Debtor on Controllable Account or Controllable Payment Intangible
§ 7-12-107 Governing Law

Article 12A Transitional Provisions for Uniform Commercial Code Amendments (2022)

Part 1 General Provisions and Definitions

§ 7-12A-101 Short Title
§ 7-12A-102 Definitions

Part 2 General Transitional Provision

§ 7-12A-201 Saving Clause

Part 3 Transitional Provisions for Articles 9A and 12

§ 7-12A-301 Saving Clause
§ 7-12A-302 Security Interest Perfected Before July 1, 2024
§ 7-12A-303 Security Interest Unperfected Before July 1, 2024
§ 7-12A-304 Effectiveness of Actions Taken Before July 1, 2024
§ 7-12A-305 Priority
§ 7-12A-306 Priority of Claims When Priority Rules of Article 9A Do Not Apply

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