reglab/statecodes huggingface dataset:
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 2 - Agency. › Section 8-2-9 - Setoff Against Principal's Claim by Person Having Claim Against Agent Before Notice of Agency.

Section 8-2-9
Setoff against principal's claim by person having claim against agent before notice of agency.
One who deals with an agent without knowing or having reason to believe that the agent acts as such in the transaction may set off against any claim of the principal arising out of the same all claims which he might have set off against the agent before notice of the agency.
(Code 1923, §9540; Code 1940, T. 9, §74.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-1 - Relationship of Joint Makers of Notes, Bills, Etc.

Section 8-3-1
Relationship of joint makers of notes, bills, etc.
Joint makers of notes, bills, bonds, or contracts for the payment of money are bound severally and jointly to the payee, transferee, or holder, jointly and severally, for the full amount due; but as between themselves, each is principal to the extent of his share of the joint and several debt and surety to the extent of the shares of the other makers.
(Code 1907, §5384; Code 1923, §9543; Code 1940, T. 9, §77.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-2 - Rights of Surety Who Has Paid Debt.

Section 8-3-2
Rights of surety who has paid debt.
A surety who has paid his principal's debt is entitled to a transfer of the original and collateral security which the creditor holds; he has all the rights to realize thereon and to reimburse himself to the same extent as the creditor might have done before the surety paid him, whether paid before or after judgment; and he shall be substituted for the creditor and subrogated to all his rights and remedies; in effect, he shall be a purchaser of the debt and all its incidents.
(Code 1907, §5385; Code 1923, §9544; Code 1940, T. 9, §78.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-3 - Remedies Given Sureties Not Exclusive.

Section 8-3-3
Remedies given sureties not exclusive.
The remedies given sureties and cosureties in this chapter are not exclusive of other remedies conferred by statute or existing at common law, but are cumulative and additional.
(Code 1907, §5386; Code 1923, §9545; Code 1940, T. 9, §79.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-4 - Tender by Surety Discharges Surety.

Section 8-3-4
Tender by surety discharges surety.
The surety may tender to the creditor the amount of his debt and demand that the evidence of and the securities for the same be delivered up to him to be enforced against his principal or cosureties; and a failure of the creditor to comply, when within his power, shall operate to discharge the surety.
(Code 1907, §5387; Code 1923, §9546; Code 1940, T. 9, §80.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-5 - Rights of Surety Against Principal Upon Payment of Debt.

Section 8-3-5
Rights of surety against principal upon payment of debt.
Payment by a surety or endorser of a debt past due entitles him to proceed immediately against his principal for the sum paid, with interest thereon, and all legal costs to which he may have been subjected by the default of the principal.
(Code 1907, §5388; Code 1923, §9547; Code 1940, T. 9, §81.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-6 - Suretyship May Be Proved by Parol.

Section 8-3-6
Suretyship may be proved by parol.
If the fact of suretyship does not appear on the face of the contract, it may be proved by parol, either before or after the judgment.
(Code 1907, §5389; Code 1923, §9548; Code 1940, T. 9, §82.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-7 - Rights of Surety Sued Separately and Paying Judgment.

Section 8-3-7
Rights of surety sued separately and paying judgment.
If the surety is sued separately from his principal, on payment by him of the judgment against him, he shall be entitled to control the judgment and execution against his principal in the same manner as if the judgment and execution were joint; and if he does not appear as surety in the judgment against him, he may give notice and make the proof and obtain the control in the same manner as pointed out in cases of joint judgment.
(Code 1907, §5390; Code 1923, §9549; Code 1940, T. 9, §83.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-8 - Payments by Surety Pending Action.

Section 8-3-8
Payments by surety pending action.
If the surety pays off the debt pending an action against the principal and himself or against the principal alone, such payment shall operate only to cause the action to proceed for the benefit of such surety, and the judgment may be entered in the name of the original plaintiff for the use of such surety.
(Code 1907, §5391; Code 1923, §9550; Code 1940, T. 9, §84.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-9 - Contribution by Cosureties.

Section 8-3-9
Contribution by cosureties.
All the foregoing provisions of this article shall apply to cases where there are more than one surety, so as to enable a surety discharging a joint debt, in whole or in part, either pending the action or after joint or several judgments, to control the same against his cosureties for the purpose of compelling them to contribute their respective shares of the amount so paid by him.
(Code 1907, §5392; Code 1923, §9551; Code 1940, T. 9, §85.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-10 - Control of Judgment by Endorser Upon Payment of Debt.

Section 8-3-10
Control of judgment by endorser upon payment of debt.
(a) Every endorser who shall pay off and discharge the debt on which he is endorser, either pending the action or after judgment, whether the judgment be joint against the principal and all the endorsers or several against such, shall be entitled to control the judgment and execution founded thereon against the principal and all prior endorsers in the same manner, upon the same proof and under the same circumstances as provided in the case of sureties.
(b) If such endorser shall collect the same of a prior endorser, such prior endorser shall have the same control of the judgment or judgments against the principal or any endorser prior to him.
(Code 1907, §5393; Code 1923, §9552; Code 1940, T. 9, §86.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-11 - Surety Paying Debt Subrogated to Rights of Creditor.

Section 8-3-11
Surety paying debt subrogated to rights of creditor.
A surety who has paid the debt of his principal is subrogated to all the rights of the creditor and, in a controversy with other creditors, ranks in dignity the same as the creditor whose claim is paid.
(Code 1907, §5394; Code 1923, §9553; Code 1940, T. 9, §87.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-12 - When Surety Not to Confess Judgment.

Section 8-3-12
When surety not to confess judgment.
No surety, when sued, can confess judgment or suffer judgment to pass by default if the principal debtor, on being notified of the pending action, is willing to defend the action at his own cost and give good and sufficient collateral security to the surety, to be approved by the court.
(Code 1852, §2646; Code 1867, §3073; Code 1876, §3413; Code 1886, §3152; Code 1896, §3883; Code 1907, §5395; Code 1923, §9554; Code 1940, T. 9, §88.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-13 - Surety May Require Creditor to Bring Action Against Principal; Discharge of Surety Upon Failure to Bring Action.

Section 8-3-13
Surety may require creditor to bring action against principal; discharge of surety upon failure to bring action.
(a) A surety upon any contract for the payment of money or for the delivery or payment of personal property may require the creditor or anyone having the beneficial interest in the contract, by notice in writing, to bring an action thereon against the principal debtor or against any cosurety to such contract.
(b) If an action is not brought thereon in three months after the receipt of such notice and prosecuted with diligence according to the ordinary course of law, the surety giving such notice is discharged from all liability as surety or his aliquot proportion of the debt, as the case may be.
(c) One surety may give the notice in behalf of his cosureties.
(d) The remedy secured by this section does not apply to bonds or other contracts with collateral conditions, nor to the bonds of executors, administrators, guardians, or public officers.
(Code 1852, §§2647, 2648; Code 1867, §§3074, 3075; Code 1876, §§3414, 3415; Code 1886, §§3153, 3154; Code 1896, §§3884, 3885; Code 1907, §§5396, 5397; Code 1923, §§9555, 9556; Code 1940, T. 9, §§89, 90.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-14 - Provisions of Chapter Inure to Benefit of Personal Representatives.

Section 8-3-14
Provisions of chapter inure to benefit of personal representatives.
All the provisions of this chapter inure to the benefit of the personal representatives of the creditor or surety and in favor of sureties and cosureties against the personal representatives of the principal or of a surety.
(Code 1852, §2649; Code 1867, §3076; Code 1876, §3416; Code 1886, §3155; Code 1896, §3886; Code 1907, §5398; Code 1923, §9557; Code 1940, T. 9, §91.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 1 - General Provisions. › Section 8-3-15 - Court in Which Complaints Filed.

Section 8-3-15
Court in which complaints filed.
In cases not otherwise provided for in this chapter, complaints must be filed in the circuit court of the county in which the parties, or any of them, against whom the complaint is filed reside or, if they are nonresidents or have no fixed residence in the state, in the circuit court of any county in the state or in a district court where such court has acquired jurisdiction of the original debt.
(Code 1852, §2650; Code 1867, §3077; Code 1876, §3417; Code 1886, §3156; Code 1896, §3887; Code 1907, §5399; Code 1923, §9558; Code 1940, T. 9, §92.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 2 - Replevy Bonds. › Section 8-3-30 - When Surety on Replevy Bond May Demand Collateral Security; Seizure of Property if Collateral Not Given; Disposition of Seized Perishable Property.

Section 8-3-30
When surety on replevy bond may demand collateral security; seizure of property if collateral not given; disposition of seized perishable property.
(a) When the principal in any replevy bond is wasting the replevied property or is removing or is about to remove himself or property out of the state, the surety or sureties on the replevy bond may demand of the principal adequate indemnity against loss by collateral security.
(b) If such security is not given within five days after demand made, the surety may make affidavit thereof before the clerk of the court in which such bond is filed, setting forth the demand of the principal for collateral security, for some one or more of the causes mentioned in subsection (a) of this section, and that the principal has failed to give security.
Thereupon, the clerk must issue a writ directed to the sheriff commanding him to seize the replevied property and hold the same until the decision of the civil action in which it was replevied or until the principal executes bond with sufficient surety in the same penalty as the replevy bond, payable to the surety, with condition to have the property forthcoming to abide the decision in the principal civil action, or to pay and satisfy the judgment entered therein.
(c) If the bond is not given and the property seized is of a wasting or perishable nature or the expense of keeping it would materially affect its value, it must be sold by the sheriff in the same manner as property levied on under execution and return thereof made as upon a writ of execution.
(d) If the bond is given, it must be filed with the original replevy bond, and execution may issue thereon upon a breach of the original replevy bond in favor either of the plaintiff or of the surety.
(Code 1852, §§2638-2642; Code 1867, §§3065-3069; Code 1876, §§3405-3409; Code 1886, §§3144-3148; Code 1896, §§3875-3879; Code 1907, §§5400-5404; Code 1923, §§9559-9563; Code 1940, T. 9, §§93-97.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 3 - Judgments. › Section 8-3-40 - Transfer of Judgment to Surety Upon Payment of Same by Surety.

Section 8-3-40
Transfer of judgment to surety upon payment of same by surety.
(a) Whenever a judgment is obtained by a creditor on a demand to which there are one or more sureties, the sureties may pay such demand, and the same shall be transferred by operation of law to the surety or sureties paying or satisfying such demand, who shall have all the liens or equities of such judgment and of the debt or claim on which the same is founded.
(b) The plaintiff in the judgment, his agent or attorney of record, when the payment is made, must assign such judgment to the surety or sureties paying the money, who may collect the same, with interest and costs, in the name of the plaintiff for their use, and may assert any lien or right against the principal debtor which the plaintiff could have asserted if the debt had not been paid.
(Code 1852, §2651; Code 1867, §3078; Code 1876, §3418; Code 1886, §3157; Code 1896, §3888; Code 1907, §5408; Code 1923, §9567; Code 1940, T. 9, §101.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 3 - Judgments. › Section 8-3-41 - Issuance of Execution on Judgment Paid by Surety; Collection of Money From Principal Debtor or Cosureties.

Section 8-3-41
Issuance of execution on judgment paid by surety; collection of money from principal debtor or cosureties.
(a) If a judgment is entered by any court against a principal debtor and his surety, or against his sureties, and one or more of his sureties shall pay and satisfy the judgment, the same shall be thereby transferred and assigned by operation of law to the surety or sureties paying and satisfying it, who shall have all the liens and equities of such judgment and of the debt or claim on which the same is founded which the creditor therein had.
(b) The surety, on making affidavit of his suretyship and of his having paid the judgment and filing the affidavit and any evidence of such payment that he may hold with the officer authorized to issue execution on the judgment to whom he may apply for execution, shall be entitled to have execution issued on the judgment in the name of the plaintiff or complainant for his use or in his own name against the other defendants therein, as if the judgment had not been paid and satisfied.
(c) The officer issuing the execution shall endorse thereon that it is issued for the use of the surety who paid the judgment, and the officer serving it shall collect the money for the use of the surety from the principal debtor, if he is a party to the judgment and the money can be made out of him; if not, he shall collect a ratable proportion of the money from each of the cosureties.
(Code 1907, §5409; Code 1923, §9568; Code 1940, T. 9, §102.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 3 - Suretyship. › Article 3 - Judgments. › Section 8-3-42 - Sureties Entitled to Summary Judgment Against Principal and Between Each Other.

Section 8-3-42
Sureties entitled to summary judgment against principal and between each other.
Sureties, whether bound on the contract or instrument with the principal debtor as joint or joint and several obligors or promisors, as accommodation drawers, acceptors, or endorsers of a bill of exchange or in any other manner, are entitled to a summary judgment against their principal and between each other, by motion in the circuit court on three days' notice thereof, in the cases, and in the following manner:
(1) Against the principal debtor:
a. When a judgment has been obtained against the surety which he has satisfied, either wholly or in part, for the amount paid and interest;
b. When a surety or sureties are sued without their principal upon notice given to the principal of the pending action if judgment is obtained against the surety, judgment for the same amount must be entered against the principal in favor of the surety.
(2) Between sureties:
a. A surety who has paid the debt of his principal may recover of each of his cosureties their aliquot proportion of the debt, and, if any of the cosureties are insolvent, the proportion of such insolvent must be excluded from the estimate, and judgment be entered against the remaining solvent sureties for their proportion of the debt as if such insolvent were not a cosurety.
b. When an action is pending against one or more sureties either in connection with or without their principal, then if the principal is insolvent or dead, the surety so sued may recover on notice of the pending action judgment against such of the cosureties as are not sued in that action for their aliquot proportion of the debt, excluding from the estimate the proportion of such of the sureties as are insolvent as if such insolvent had not been a surety.
(Code 1852, §§2643-2645; Code 1867, §§3070-3072; Code 1876, §§3410-3412; Code 1886, §§3149-3151; Code 1896, §§3880-3882; Code 1907, §§5405-5407; Code 1923, §§9564-9566; Code 1940, T. 9, §§98-100.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 4 - Bills of Exchange. › Section 8-4-1 - Damages on Protested Bills of Exchange.

Section 8-4-1
Damages on protested bills of exchange.
The damages on bills of exchange, inland or foreign, protested for nonacceptance or nonpayment are five percent on the sum drawn for.
(Code 1852, §1537; Code 1867, §1845; Code 1876, §2106; Code 1886, §1771; Code 1896, §885; Code 1907, §5145; Code 1923, §9216; Code 1940, T. 39, §185.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 4 - Bills of Exchange. › Section 8-4-2 - Damages on Protest for Nonpayment in Place of All Charges Except Costs.

Section 8-4-2
Damages on protest for nonpayment in place of all charges except costs.
Damages on protest for nonpayment of bills of exchange are in the place of all charges except costs of protest incurred previous to and at the time of giving notice of nonpayment, but the holder may recover legal interest upon the aggregate amount of the principal sum specified in such bill and of the damages thereon from the time at which payment of the principal sum has been demanded, and costs of protest.
(Code 1852, §1538; Code 1867, §1846; Code 1876, §2107; Code 1886, §1772; Code 1896, §886; Code 1907, §5146; Code 1923, §9217; Code 1940, T. 39, §186.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 4 - Bills of Exchange. › Section 8-4-3 - Applicability of Rate of Exchange in Determining Amount Due and Damages for Nonpayment.

Section 8-4-3
Applicability of rate of exchange in determining amount due and damages for nonpayment.
(a) If the amount in a bill of exchange specified is expressed in money of the United States, the amount due thereon and the damages allowed for the nonpayment thereof must be ascertained at the time of the demand of payment or notice of nonpayment without reference to the rate of exchange between this state and the place on which such bill was drawn.
(b) If the amount in a bill of exchange specified is expressed in money or currency of any foreign country, then the amount due, exclusive of the damages payable thereon, must be ascertained and determined by the rate of exchange, or the value of such foreign currency at the time of the demand of payment.
(Code 1852, §§1539, 1540; Code 1867, §§1847, 1848; Code 1876, §§2108, 2109; Code 1886, §§1773, 1774; Code 1896, §§887, 888; Code 1907, §§5147, 5148; Code 1923, §§9218, 9219; Code 1940, T. 39, §§187, 188.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 4 - Bills of Exchange. › Section 8-4-4 - Damages and Charges on Protest for Nonacceptance.

Section 8-4-4
Damages and charges on protest for nonacceptance.
When a bill of exchange is protested for nonacceptance, the same rate of damages is allowed as in the case of a protest for nonpayment; and such damages are in the place of all charges, except costs of protest, incurred previous to and at the time of giving notice of nonacceptance; but the holder is entitled to recover legal interest, exclusive of the damages, upon the amount of the principal sum from the time when the same would have become payable, if accepted, interest on the damages from the demand of acceptance and the costs of protest.
(Code 1852, §1541; Code 1867, §1849; Code 1876, §2110; Code 1886, §1775; Code 1896, §889; Code 1907, §5149; Code 1923, §9220; Code 1940, T. 39, §189.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 1 - General Provisions. › Section 8-5-1 - Action on Instrument Issued to Circulate as Money Without Authority; Interest on Same.

Section 8-5-1
Action on instrument issued to circulate as money without authority; interest on same.
Every bill of exchange, note, bond, or instrument of any description, whatever may be its form or device, issued with the intent to circulate as money without authority of law, is an absolute, unconditional promise of the association or person putting such bill, note, or other instrument in circulation, and may be sued on by the holder thereof without transfer or assignment and without demand, protest, or notice and the amount thereof recovered with interest thereon at the rate of 50 percent per annum from the date thereof or from the time the same was put in circulation.
(Code 1852, §935; Code 1867, §1171; Code 1876, §1424; Code 1886, §1193; Code 1896, §866; Code 1907, §5150; Code 1923, §9223; Code 1940, T. 39, §192.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 1 - General Provisions. › Section 8-5-2 - Issuance of Change Bills, etc., by Corporations Prohibited.

Section 8-5-2
Issuance of change bills, etc., by corporations prohibited.
No corporation doing business in this state shall pay out, by its agents or officers, any change bills, notes, or paper issued without authority of law, the circulation or passing of which is prohibited by the laws of this state; and if such corporation allows the same, it incurs a forfeiture of its charter.
(Code 1852, §936; Code 1867, §1172; Code 1876, §1425; Code 1886, §1194; Code 1896, §867; Code 1907, §5151; Code 1923, §9224; Code 1940, T. 39, §193.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-20 - Bonds, Contracts, Writings for Payment of Money, etc., Assignable by Endorsement.

Section 8-5-20
Bonds, contracts, writings for payment of money, etc., assignable by endorsement.
All bonds, writings, and contracts for the payment of money, or other thing, or the performance of any act or duty, are assignable by endorsement so as to authorize an action thereon by each successive endorsee.
(Code 1852, §1530; Code 1867, §1838; Code 1876, §2099; Code 1886, §1762; Code 1896, §876; Code 1907, §5158; Code 1923, §9231; Code 1940, T. 39, §200.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-21 - Assignment of Future Wages Void.

Section 8-5-21
Assignment of future wages void.
(a) All assignments made by any person of salaries or wages, to be earned in the future, shall be absolutely void.
(b) The provisions of this section shall also apply to orders given by employees covering the whole or part of future wages.
(Acts 1911, No. 226, p. 370; Code 1923, §9232; Code 1940, T. 39, §201.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-22 - Right to Assign Interest in Crops.

Section 8-5-22
Right to assign interest in crops.
Nothing in Section 8-5-21 shall be construed to affect the right of the laborer under Section 35-9-37 to assign his interest in a crop.
(Code 1923, §9234; Acts 1935, No. 159, p. 202; Code 1940, T. 39, §203.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-23 - Property Injury Claims Against Railroads Assignable.

Section 8-5-23
Property injury claims against railroads assignable.
Claims against railroad companies for injuries to property may be assigned in writing, and each successive assignee thereof may bring an action thereon in his own name.
(Code 1876, §2119; Code 1886, §1763; Code 1896, §877; Code 1907, §5159; Code 1923, §9235; Code 1940, T. 39, §204.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-24 - Effect of Transfer of Bill, Note, etc., Given for Purchase Money of Lands.

Section 8-5-24
Effect of transfer of bill, note, etc., given for purchase money of lands.
The transfer of a bond, bill, or note given for the purchase money of lands, whether the transfer be by delivery merely or in writing, expressed to be with or without recourse on the transferor, passes to the transferee the lien of the vendor of the lands.
(Code 1886, §1764; Code 1896, §878; Code 1907, §5160; Code 1923, §9236; Code 1940, T. 39, §205.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-25 - Contracts, Writings and Paper Circulated as Money Subject to Payments, Setoffs and Discounts Prior to Notice of Assignment.

Section 8-5-25
Contracts, writings and paper circulated as money subject to payments, setoffs and discounts prior to notice of assignment.
All contracts and writings, except such as are governed by the Uniform Commercial Code, and paper issued to circulate as money, are subject to all payments, setoffs, and discounts had or possessed against the same previous to notice of an assignment or transfer.
(Code 1852, §1531; Code 1867, §1839; Code 1876, §2100; Code 1886, §1765; Code 1896, §879; Code 1907, §5161; Code 1923, §9237; Code 1940, T. 39, §206; Acts 1965, No. 549, p. 811.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-26 - Action to Charge Endorser or Assignor on Contracts Assigned by Writing and Not Covered by Uniform Commercial Code - Time for Bringing Action Against Maker; Issuance of Execution When Judgment Obtained; Proof of Inability of Maker to Pay Judgment.

Section 8-5-26
Action to charge endorser or assignor on contracts assigned by writing and not covered by Uniform Commercial Code - Time for bringing action against maker; issuance of execution when judgment obtained; proof of inability of maker to pay judgment.
(a) On all contracts assigned by writing which are not governed by the Uniform Commercial Code, an action to charge the endorser or assignor must be brought against the maker within 30 days after an action can properly be brought.
(b) If judgment is obtained, execution must be issued as authorized by law, and the inability of the maker to pay such judgment proved by the return of "no property."
(Code 1852, §§1543, 1544; Code 1867, §§1851, 1852; Code 1876, §§2112, 2113; Code 1886, §1778; Code 1896, §892; Code 1907, §5153; Code 1923, §9226; Code 1940, T. 39, §195; Acts 1965, No. 549, p. 811.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-27 - Action to Charge Endorser or Assignor on Contracts Assigned by Writing and Not Covered by Uniform Commercial Code - Extension or Waiver of Time for Bringing Action by Endorser or Assignor.

Section 8-5-27
Action to charge endorser or assignor on contracts assigned by writing and not covered by Uniform Commercial Code - Extension or waiver of time for bringing action by endorser or assignor.
The time for bringing the action, as required by Section 8-5-26, may be extended or waived by the consent of the endorser or assignor in writing signed by him.
(Code 1852, §1545; Code 1867, §1853; Code 1876, §2114; Code 1886, §1779; Code 1896, §893; Code 1907, §5154; Code 1923, §9227; Code 1940, T. 39, §196.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-28 - Action to Charge Endorser or Assignor on Contracts Assigned by Writing and Not Covered by Uniform Commercial Code - When Holder of Contract Excused From Bringing Action, Obtaining Judgment, Etc.

Section 8-5-28
Action to charge endorser or assignor on contracts assigned by writing and not covered by Uniform Commercial Code - When holder of contract excused from bringing action, obtaining judgment, etc.
The holder of an endorsed or assigned contract which is not governed by the Uniform Commercial Code is excused from bringing an action, obtaining the judgment, and issuing the execution thereon when:
(1) The maker has no known place of residence in the state;
(2) By the use of ordinary diligence such residence cannot be ascertained;
(3) The action has been commenced in the county of the residence of the maker and a summons to the first and next succeeding court returned not found by the proper officer;
(4) A judgment against the maker has been defeated, in whole or in part, by a defense to the merits of such contract or writing or a setoff against any other than the endorsee or assignee;
(5) Any defense, except a setoff to the merits of such contract or writing, exists which would prevent a judgment for all or any portion of the sum due or the value of the thing payable by such contract or writing;
(6) The maker dies before the time expires for bringing an action or, if after an action brought, his estate is declared insolvent; or
(7) By any act or promise of the endorser, the plaintiff is induced to delay bringing such an action.
(Code 1852, §1546; Code 1867, §1854; Code 1876, §2115; Code 1886, §1780; Code 1896, §894; Code 1907, §5155; Code 1923, §9228; Code 1940, T. 39, §197.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-29 - Action to Charge Endorser or Assignor on Contracts Assigned by Writing and Not Covered by Uniform Commercial Code - Applicability of Sections 8-5-26 Through 8-5-28.

Section 8-5-29
Action to charge endorser or assignor on contracts assigned by writing and not covered by Uniform Commercial Code - Applicability of Sections 8-5-26 through 8-5-28.
All assignments or endorsements in writing of contracts which are not governed by the Uniform Commercial Code, whether regular or irregular, must be construed as within the meaning of Sections 8-5-26 through 8-5-28, unless the contrary clearly appears from such assignment or endorsement.
(Code 1852, §1547; Code 1867, §1855; Code 1876, §2116; Code 1886, §1781; Code 1896, §895; Code 1907, §5156; Code 1923, §9229; Code 1940, T. 39, §198; Acts 1965, No. 549, p. 811.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 5 - Nonnegotiable Instruments. › Article 2 - Assignments and Endorsements. › Section 8-5-30 - Action to Charge Endorser or Assignor on Contracts Assigned by Writing and Not Covered by Uniform Commercial Code - Costs Recoverable Against Assignor or Endorser.

Section 8-5-30
Action to charge endorser or assignor on contracts assigned by writing and not covered by Uniform Commercial Code - Costs recoverable against assignor or endorser.
The costs in an action against the maker in an assigned or endorsed contract which is not governed by the Uniform Commercial Code are recoverable in the action against the assignor or endorser.
(Code 1852, §1548; Code 1867, §1856; Code 1876, §2117; Code 1886, §1782; Code 1896, §896; Code 1907, §5157; Code 1923, §9230; Code 1940, T. 39, §199.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-1 - Short Title.

Section 8-6-1
Short title.
This article may be cited as the "Alabama Securities Act."
(Acts 1959, No. 542, p. 1318, §22; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-4 - Registration of Securities - Required; Exceptions.

Section 8-6-4
Registration of securities - Required; exceptions.
It is unlawful for any person to offer or sell any security in this state unless:
(1) It is registered under this article;
(2) The security is exempt from registration under Section 8-6-10; or
(3) The transaction is exempt under Section 8-6-11.
(Acts 1959, No. 542, p. 1318, §3; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-14 - Filing or Registration Not Finding of Truth, Completeness, etc., of Documents; Representations Concerning Effect of Registration or Exemption.

Section 8-6-14
Filing or registration not finding of truth, completeness, etc., of documents; representations concerning effect of registration or exemption.
(a) Neither the fact that an application for registration under Section 8-6-3 or a registration statement under Sections 8-6-5, 8-6-6 or 8-6-7 has been filed, nor the fact that a person or security is effectively registered constitutes a finding by the Securities Commission that any document filed under this article is true, complete, and not misleading.
(b) Neither any such fact nor the fact that an exemption or exception is available for a security or a transaction means that the Securities Commission has passed in any way upon the merits or qualifications of or recommended or given approval to any person, security, or transaction.
(c) It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with this section.
(Acts 1959, No. 542, p. 1318, §14; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-15 - Investigations and Subpoenas by Commission.

Section 8-6-15
Investigations and subpoenas by commission.
(a) The Securities Commission, in its discretion, may:
(1) Make such public or private investigations within or outside of this state as he deems necessary to determine whether any registration in the sale of securities should be granted, denied, or revoked, whether any person has violated or is about to violate any provision of this article or any rule or order hereunder, to aid in the enforcement of this article or in the prescribing of rules and forms hereunder;
(2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commission may determine, as to all the facts and circumstances concerning the matter to be investigated; and
(3) Publish information concerning any violation of this article or any rule or order hereunder.
(b) For the purpose of any investigation or proceeding under this article, the Securities Commission or any officer designated by it may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commission deems relevant or material to the inquiry.
(c) In case of contumacy by or refusal to obey a subpoena issued to any person, any court of competent jurisdiction may issue, upon application by the Securities Commission, to that person an order requiring him to appear before the commission or the officer designated by it, there to produce documentary evidence if so ordered or to give evidence touching the matter under investigation or in question. Any failure to obey the order of the court may be punished by the court as a contempt of court.
(d) No person is excused from attending and testifying or from producing any document or record before the Securities Commission or in obedience to the subpoena of the commission or any officer designated by it, in any proceeding instituted by the commission, on the ground that the testimony or evidence, documentary or otherwise, required of him may tend to incriminate him or subject him to a penalty or forfeiture; but no individual may be prosecuted or subjected to any penalty or forfeiture for, or on account of, any transaction, matter, or thing concerning which he is compelled, after claiming his privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that the individual so testifying shall not be exempt from prosecution and punishment for perjury committed in so testifying.
(Acts 1959, No. 542, p. 1318, §15; Acts 1969, No. 605, p. 1093, §6; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-16 - Administrative Cease and Desist Authority to Commission; Injunctive Relief; Appointment of Receivers or Conservators for Defendants or Defendants' Assets; Court Ordered Rescission, Restitution, or Disgorgement for Violations.

Section 8-6-16
Administrative cease and desist authority to commission; injunctive relief; appointment of receivers or conservators for defendants or defendants' assets; court ordered rescission, restitution, or disgorgement for violations.
Whenever it appears to the Securities Commission that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this article or any rule or order hereunder, it may, in its discretion, do either or both of the following:
(a) Issue a cease and desist order, with or without a prior hearing, against the person or persons engaged in the prohibited activities, directing them to cease and desist from engaging in the act or practice.
(b) Bring an action in its discretion in any court of competent jurisdiction to enjoin the act or practice and to enforce compliance with this article or any rule or order issued hereunder.
Upon a proper showing, a permanent injunction, temporary restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets. In addition, upon a proper showing by the commission, the court may enter an order of rescission, restitution, or disgorgement directed at any person who has engaged in an act constituting a violation of this article or any rule or order adopted or issued pursuant to this article. The Securities Commission shall not be required to post a bond.
(Acts 1959, No. 542, p. 1318, §16; Acts 1990, No. 90-527, p. 772, §1; Acts 1992, No. 92-524, p. 1059, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-18 - Criminal Penalties for Violations of Article; Enforcement; Scienter.

Section 8-6-18
Criminal penalties for violations of article; enforcement; scienter.
(a) A person who willfully violates Section 8-6-3 or Section 8-6-4, upon conviction, shall be guilty of a Class C felony. A person that willfully violates subsection (a), (b), or (c) of Section 8-6-17, upon conviction, shall be guilty of a Class B felony. The limitations period for any prosecution under this section does not commence or begin to accrue until the discovery of the facts constituting the deception, after which the prosecution shall be commenced within five years.
(b) A person who willfully violates any provision of this chapter, other than those noted in subsection (a), or a rule adopted or order issued under this chapter, upon conviction, shall be guilty of a Class A misdemeanor.
(c) The enforcement of the provisions of this article shall be vested in the commission. It shall be the duty of the commission to see that its provisions are at all times obeyed and to take such measures and to make such investigations as will prevent or detect the violation of any provision thereof. The commission shall at once lay before the district attorney of the proper county any evidence which shall come to its knowledge of criminality under this article. In the event of the neglect or refusal of the district attorney to institute and prosecute such violation, the commission shall be authorized to proceed therein with all the rights, privileges, and powers conferred by law upon district or court attorneys including the power to appear before grand juries and to interrogate witnesses before such grand juries.
(d) Nothing in this article limits the power of the state to punish any person for any conduct which constitutes a crime by statute or at common law.
(e) In any proceeding under this article, scienter need not be alleged and proved in prosecutions involving the sale of unregistered securities or in the failure to register as a dealer, agent, investment adviser, or investment adviser representative under this article.
(Acts 1959, No. 542, p. 1318, §17; Acts 1969, No. 605, p. 1093, §7; Acts 1971, No. 2243, p. 3598, §3; Acts 1979, No. 79-462, p. 827, §6; Acts 1990, No. 90-527, p. 772, §1; Act 2009-774, p. 2401, §1; Act 2014-348, p. 1293, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-21 - Commission Authorized to Swear Out Warrants of Arrest; Liability of Commission for Warrant.

Section 8-6-21
Commission authorized to swear out warrants of arrest; liability of commission for warrant.
The Securities Commission is authorized and empowered to swear out warrants of arrest against any person violating the criminal provisions of this article, and it shall not be liable in damages or to an action for damages by reason of swearing out warrants or for causing the arrest and detention or imprisonment of any person or persons under such warrant or warrants.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-22 - Duties of Director; Director Empowered to Swear Out Warrants of Arrest; Liability of Director for Warrant.

Section 8-6-22
Duties of director; director empowered to swear out warrants of arrest; liability of director for warrant.
The Director of the Securities Commission shall keep the records of the commission and generally perform such duties as the commission may direct. When ordered by the commission, he shall be authorized and empowered to swear out warrants of arrest against any person violating the criminal provisions of this article. He shall not be liable in damages or to an action for damages by reason of swearing out such warrant or warrants or for causing the arrest, detention, or imprisonment of any person or persons under such warrant or warrants.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-23 - Making, Amending, and Rescinding Rules and Prescribing Forms by Commission.

Section 8-6-23
Making, amending, and rescinding rules and prescribing forms by commission.
The Securities Commission may from time to time make, amend, and rescind such rules and prescribe such forms as are necessary and desirable to carry out the provisions of this article. No rules or forms may be made or prescribed unless the commission finds that the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of this article. In prescribing rules and forms the commission may cooperate with the securities administrators of the other states and the securities and exchange commission with a view to effectuating the policy of this article to achieve maximum uniformity in the form and content of registration statements, applications, and reports wherever practicable. All rules and forms of the commission shall be published.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-24 - Liability for Acts Done or Omitted in Good Faith Under Rules, Forms, or Orders.

Section 8-6-24
Liability for acts done or omitted in good faith under rules, forms, or orders.
No provision of this article imposing any liability applies to any act done or omitted in good faith in conformity with any rule, form, or order of the Securities Commission, notwithstanding that the rule or form may later be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-25 - Hearings to Be Public; Requests for Private Hearings.

Section 8-6-25
Hearings to be public; requests for private hearings.
Every hearing in an administrative proceeding shall be public unless the Securities Commission, in its discretion, grants a request joined in by all the respondents that the hearing be conducted privately.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-26 - Document Deemed Filed When Received.

Section 8-6-26
Document deemed filed when received.
A document is deemed filed when it is received by the Securities Commission.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)
2023 Code of Alabama › Title 8 - Commercial Law and Consumer Protection. › Chapter 6 - Securities. › Article 1 - General Provisions. › Section 8-6-27 - Commission to Keep Register; Register to Be Open for Public Inspection.

Section 8-6-27
Commission to keep register; register to be open for public inspection.
The Securities Commission shall keep a register of all applications for registration and registration statements which are or have ever been effective under this article and all denial, suspension, or revocation orders which have ever been entered under this article. The register shall be open for public inspection. The information contained in or filed with any registration statement, application, or report may be made available to the public under such rules as the commission prescribes.
(Acts 1959, No. 542, p. 1318, §20; Acts 1990, No. 90-527, p. 772, §1.)