Alabama Statutes
§ 7-2A-307 — Priority Over Lease Contract
(1)Except as otherwise provided in Section 7-2A-306, a creditor of a lessee takes subject to the lease contract.
(2)Except as otherwise provided in subsection (3) and in Sections 7-2A-306 and 7-2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
(3)Except as otherwise provided in Sections 7-9A-317, 7-9A-321, and 7-9A-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.
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Legislative History
(Acts 1992, 2nd Ex. Sess., No. 92-700, p. 92, §307; Act 2001-481, p. 647, §2.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 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§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
Presumptions