Ala. Code § 7-9A-110

Current with legislation from 2024 effective through April 4, 2024.

Section 7-9A-110 - Security interests arising under Article 2 or 2A

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.

Ala. Code § 7-9A-110 (1975)

Act 2001-481, p. 647, §1.