reglab/housing_qa huggingface dataset:
AL Code § 7-7-601 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions.|Section 7-7-601 - Lost, Stolen, or Destroyed Documents of Title.

Section 7-7-601Lost, stolen, or destroyed documents of title.  (a) If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery of the goods or issuance of a substitute document without the claimant's posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was nonnegotiable, the court may require security. The court may also order payment of the bailee's reasonable costs and attorney's fees in any action under this subsection. (b) A bailee that, without a court order, delivers goods to a person claiming under a missing negotiable document of title is liable to any person injured thereby. If the delivery is not in good faith, the bailee is liable for conversion. Delivery in good faith is not conversion if the claimant posts security with the bailee in an amount at least double the value of the goods at the time of posting to indemnify any person injured by the delivery which files a notice of claim within one year after the delivery. (Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)
AL Code § 7-7-602 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions.|Section 7-7-602 - Judicial Process Against Goods Covered by Negotiable Document of Title.

Section 7-7-602Judicial process against goods covered by negotiable document of title. Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the document's negotiation is enjoined. The bailee may not be compelled to deliver the goods pursuant to process until possession or control of the document is surrendered to the bailee or to the court. A purchaser of the document for value without notice of the process or injunction takes free of the lien imposed by judicial process. (Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)
AL Code § 7-7-603 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions.|Section 7-7-603 - Conflicting Claims; Interpleader.

Section 7-7-603Conflicting claims; interpleader. If more than one person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action. (Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)
AL Code § 7-7-701 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 7 - Miscellanous Provisions.|Section 7-7-701 - Effective Date.

Section 7-7-701Effective date. This article takes effect on January 1, 2005. (Act 2004-315, p. 464, §1.)
AL Code § 7-7-702 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 7 - Miscellanous Provisions.|Section 7-7-702 - Repeals.

Section 7-7-702Repeals. Existing Sections 7-7-101 through 7-7-603 and Section 7-10-104, are repealed. (Act 2004-315, p. 464, §1.)
AL Code § 7-7-703 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 7 - Miscellanous Provisions.|Section 7-7-703 - Applicability.

Section 7-7-703Applicability. This article applies to a document of title that is issued or a bailment that arises on or after January 1, 2005. This article does not apply to a document of title that is issued or a bailment that arises before January 1, 2005, even if the document of title or bailment would be subject to this article if the document of title had been issued or bailment had arisen on or after January 1, 2005. This article does not apply to a right of action that has accrued before January 1, 2005. (Act 2004-315, p. 464, §1.)
AL Code § 7-7-704 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 7 - Warehouse Receipts, Bills of Lading and Other Documents of Title.|Part 7 - Miscellanous Provisions.|Section 7-7-704 - Savings Clause.

Section 7-7-704Savings clause. A document of title issued or a bailment that arises before January 1, 2005, and the rights, obligations, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this article as if the amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule. (Act 2004-315, p. 464, §1.)
AL Code § 7-8-101 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-101 - Short Title.

Section 7-8-101Short title. This article may be cited as Uniform Commercial Code - Investment Securities. (Acts 1965, No. 549, p. 811; repealed by Acts 1996, No. 96-742, p. 1241, §1; added by Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-103 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-103 - Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets.

Section 7-8-103Rules for determining whether certain obligations and interests are securities or financial assets. (a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security. (b) An "investment company security" is a security. "Investment company security" means a share or similar equity interest issued by an entity that is registered as an investment company under the federal investment company laws, an interest in a unit investment trust that is so registered, or a face-amount certificate issued by a face-amount certificate company that is so registered. Investment company security does not include an insurance policy or endowment policy or annuity contract issued by an insurance company. (c) An interest in a partnership or limited liability company is not a security unless it is dealt in or traded on securities exchanges or in securities markets, its terms expressly provide that it is a security governed by this article, or it is an investment company security. However, an interest in a partnership or limited liability company is a financial asset if it is held in a securities account. (d) A writing that is a security certificate is governed by this article and not by Article 3, even though it also meets the requirements of that article. However, a negotiable instrument governed by Article 3 is a financial asset if it is held in a securities account. (e) An option or similar obligation issued by a clearing corporation to its participants is not a security, but is a financial asset. (f) A commodity contract, as defined in Section 7-9A-102(a)(15), is not a security or a financial asset. (g) A document of title is not a financial asset unless Section 7-8-102(a)(9)(iii) applies. (Acts 1996, No. 96-742, p. 1241, §1; Act 2001-481, p. 647, §2; Act 2004-315, p. 464, §2.)
AL Code § 7-8-104 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-104 - Acquisition of Security or Financial Asset or Interest Therein.

Section 7-8-104Acquisition of security or financial asset or interest therein. (a) A person acquires a security or an interest therein, under this article, if: (1) the person is a purchaser to whom a security is delivered pursuant to Section 7-8-301; or (2) the person acquires a security entitlement to the security pursuant to Section 7-8-501. (b) A person acquires a financial asset, other than a security, or an interest therein, under this article, if the person acquires a security entitlement to the financial asset. (c) A person who acquires a security entitlement to a security or other financial asset has the rights specified in Part 5, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in Section 7-8-503. (d) Unless the context shows that a different meaning is intended, a person who is required by other law, regulation, rule, or agreement to transfer, deliver, present, surrender, exchange, or otherwise put in the possession of another person a security or financial asset satisfies that requirement by causing the other person to acquire an interest in the security or financial asset pursuant to subsection (a) or (b). (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-105 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-105 - Notice of Adverse Claim.

Section 7-8-105Notice of adverse claim. (a) A person has notice of an adverse claim if: (1) the person knows of the adverse claim; (2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim; or (3) the person has a duty, imposed by statute or regulation, to investigate whether an adverse claim exists, and the investigation so required would establish the existence of the adverse claim. (b) Having knowledge that a financial asset or interest therein is or has been transferred by a representative imposes no duty of inquiry into the rightfulness of a transaction and is not notice of an adverse claim. However, a person who knows that a representative has transferred a financial asset or interest therein in a transaction that is, or whose proceeds are being used, for the individual benefit of the representative or otherwise in breach of duty has notice of an adverse claim. (c) An act or event that creates a right to immediate performance of the principal obligation represented by a security certificate or sets a date on or after which the certificate is to be presented or surrendered for redemption or exchange does not itself constitute notice of an adverse claim except in the case of a transfer more than: (1) one year after a date set for presentment or surrender for redemption or exchange; or (2) six months after a date set for payment of money against presentation or surrender of the certificate, if money was available for payment on that date. (d) A purchaser of a certificated security has notice of an adverse claim if the security certificate: (1) whether in bearer or registered form, has been indorsed "for collection" or "for surrender" or for some other purpose not involving transfer; or (2) is in bearer form and has on it an unambiguous statement that it is the property of a person other than the transferor, but the mere writing of a name on the certificate is not such a statement. (e) Filing of a financing statement under Article 9 is not notice of an adverse claim to a financial asset. (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-106 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-106 - Control.

Section 7-8-106Control. (a) A purchaser has "control" of a certificated security in bearer form if the certificated security is delivered to the purchaser. (b) A purchaser has "control" of a certificated security in registered form if the certificated security is delivered to the purchaser, and: (1) the certificate is indorsed to the purchaser or in blank by an effective indorsement; or (2) the certificate is registered in the name of the purchaser, upon original issue or registration of transfer by the issuer. (c) A purchaser has "control" of an uncertificated security if: (1) the uncertificated security is delivered to the purchaser; or (2) the issuer has agreed that it will comply with instructions originated by the purchaser without further consent by the registered owner. (d) A purchaser has "control" of a security entitlement if: (1) the purchaser becomes the entitlement holder;  (2) the securities intermediary has agreed that it will comply with entitlement orders originated by the purchaser without further consent by the entitlement holder; or (3) another person has control of the security entitlement on behalf of the purchaser or, having previously acquired control of the security entitlement, acknowledges that it has control on behalf of the purchaser. (e) If an interest in a security entitlement is granted by the entitlement holder to the entitlement holder's own securities intermediary, the securities intermediary has control. (f) A purchaser who has satisfied the requirements of subsection (c) or (d) has control, even if the registered owner in the case of subsection (c) or the entitlement holder in the case of subsection (d) retains the right to make substitutions for the uncertificated security or security entitlement, to originate instructions or entitlement orders to the issuer or securities intermediary, or otherwise to deal with the uncertificated security or security entitlement. (g) An issuer or a securities intermediary may not enter into an agreement of the kind described in subsection (c)(2) or (d)(2) without the consent of the registered owner or entitlement holder, but an issuer or a securities intermediary is not required to enter into such an agreement even though the registered owner or entitlement holder so directs. An issuer or securities intermediary that has entered into such an agreement is not required to confirm the existence of the agreement to another party unless requested to do so by the registered owner or entitlement holder. (Acts 1996, No. 96-742, p. 1241, §1; Act 2001-481, p. 647, §2.)
AL Code § 7-8-107 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-107 - Whether Indorsement, Instruction, or Entitlement Order Is Effective.

Section 7-8-107Whether indorsement, instruction, or entitlement order is effective. (a) "Appropriate person" means: (1) with respect to an indorsement, the person specified by a security certificate or by an effective special indorsement to be entitled to the security; (2) with respect to an instruction, the registered owner of an uncertificated security; (3) with respect to an entitlement order, the entitlement holder; (4) if the person designated in paragraph (1), (2), or (3) is deceased, the designated person's successor taking under other law or the designated person's personal representative acting for the estate of the decedent; or (5) if the person designated in paragraph (1), (2), or (3) lacks capacity, the designated person's guardian, conservator, or other similar representative who has power under other law to transfer the security or financial asset. (b) An indorsement, instruction, or entitlement order is effective if: (1) it is made by the appropriate person; (2) it is made by a person who has power under the law of agency to transfer the security or financial asset on behalf of the appropriate person, including, in the case of an instruction or entitlement order, a person who has control under Section 7-8-106(c)(2) or (d)(2); or (3) the appropriate person has ratified it or is otherwise precluded from asserting its ineffectiveness. (c) An indorsement, instruction, or entitlement order made by a representative is effective even if: (1) the representative has failed to comply with a controlling instrument or with the law of the state having jurisdiction of the representative relationship, including any law requiring the representative to obtain court approval of the transaction; or (2) the representative's action in making the indorsement, instruction, or entitlement order or using the proceeds of the transaction is otherwise a breach of duty. (d) If a security is registered in the name of or specially indorsed to a person described as a representative, or if a securities account is maintained in the name of a person described as a representative, an indorsement, instruction, or entitlement order made by the person is effective even though the person is no longer serving in the described capacity. (e) Effectiveness of an indorsement, instruction, or entitlement order is determined as of the date the indorsement, instruction, or entitlement order is made, and an indorsement, instruction, or entitlement order does not become ineffective by reason of any later change of circumstances. (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-109 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-109 - Warranties in Indirect Holding.

Section 7-8-109Warranties in indirect holding. (a) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (1) the entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and (2) there is no adverse claim to the security entitlement. (b) A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in Section 7-8-108(a) or (b). (c) If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in Section 7-8-108(a) or (b). (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-111 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-111 - Clearing Corporation Rules.

Section 7-8-111Clearing corporation rules. A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this title and affects another party who does not consent to the rule. (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-112 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-112 - Creditor's Legal Process.

Section 7-8-112Creditor's legal process. (a) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (d). However, a certificated security for which the certificate has been surrendered to the issuer may be reached by a creditor by legal process upon the issuer. (b) The interest of a debtor in an uncertificated security may be reached by a creditor only by legal process upon the issuer at its chief executive office in the United States, except as otherwise provided in subsection (d). (c) The interest of a debtor in a security entitlement may be reached by a creditor only by legal process upon the securities intermediary with whom the debtor's securities account is maintained, except as otherwise provided in subsection (d). (d) The interest of a debtor in a certificated security for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name of a secured party, or a security entitlement maintained in the name of a secured party, may be reached by a creditor by legal process upon the secured party. (e) A creditor whose debtor is the owner of a certificated security, uncertificated security, or security entitlement is entitled to aid from a court of competent jurisdiction, by injunction or otherwise, in reaching the certificated security, uncertificated security, or security entitlement or in satisfying the claim by means allowed at law or in equity in regard to property that cannot readily be reached by other legal process. (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-113 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-113 - Statute of Frauds Inapplicable.

Section 7-8-113Statute of frauds inapplicable. A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making. (Acts 1996, No. 96-742, p. 1241, §1.)
AL Code § 7-8-114 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 8 - Investment Securities.|Part 1 - Short Title and General Matters.|Section 7-8-114 - Evidentiary Rules Concerning Certificated Securities.

Section 7-8-114Evidentiary rules concerning certificated securities. The following rules apply in an action on a certificated security against the issuer: (1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted. (2) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized. (3) If signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security. (4) If it is shown that a defense or defect exists, the plaintiff has the burden of establishing that the plaintiff or some person under whom the plaintiff claims is a person against whom the defense or defect cannot be asserted. (Acts 1996, No. 96-742, p. 1241, §1.)