(a) General rule: Perfection by filing. Except as otherwise provided in subsection (b) and Section 7-9A-312(b), a financing statement must be filed to perfect all security interests and agricultural liens.
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Terms Used In Alabama Code 7-9A-310 v2

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • Statute: A law passed by a legislature.
(b) Exceptions: Filing not necessary. The filing of a financing statement is not necessary to perfect a security interest:

(1) that is perfected under Section 7-9A-308(d), (e), (f), or (g);
(2) that is perfected under Section 7-9A-309 when it attaches;
(3) in property subject to a statute, regulation, or treaty described in Section 7-9A-311(a);
(4) in goods in possession of a bailee which is perfected under Section 7-9A-312(d)(1) or (2);
(5) in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under Section 7-9A-312(e), (f), or (g);
(6) in collateral in the secured party’s possession under Section 7-9A-313;
(7) in a certificated security which is perfected by delivery of the security certificate to the secured party under Section 7-9A-313;
(8) in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights which is perfected by control under Section 7-9A-314;
(8A) in chattel paper which is perfected by possession and control under Section 7-9A-314A;
(9) in proceeds which is perfected under Section 7-9A-315; or
(10) that is perfected under Section 7-9A-316.
(c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this article is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.
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