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

Alabama Statutes

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

Alabama·Title 7 Commercial Code·Art. 9A Secured Transactions·Div. 2 Applicability of Article

A security interest arising under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5) is subject to this article. However, until the debtor obtains possession of the goods:

(1)the security interest is enforceable, even if Section 7-9A-203(b)(3) has not been satisfied;

(2)filing is not required to perfect the security interest;

(3)the rights of the secured party after default by the debtor are governed by Article 2 or 2A; and

(4)the security interest has priority over a conflicting security interest created by the debtor.

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A security interest arising under Section 7-2-401, 7-2-505, 7-2-711(3), or 7-2A-508(5) is subject to this article. However, until the debtor obtains possession of the goods:
(1) the security interest is enforceable, even if Section 7-9A-203(b)(3) has not been satisfied;
(2) filing is not required to perfect the security interest;
(3) the rights of the secured party after default by the debtor are governed by Article 2 or 2A; and
(4) the security interest has priority over a conflicting security interest created by the debtor.

Alabama § 7-9A-110 (Security Interests Arising Under Article 2 or 2A) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.