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Alabama · Through Act 2026-611

Ala. Code § 7-9A-923: Provisions Variable by Agreement.

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Where this section sits in the code
  1. Title 7 Commercial Code.
  2. Article 9A Secured Transactions.
  3. Part 9 The Uniform Assignment for Benefit of Creditors Act.

(a) Except as provided in this section and Section 7-9A-910(b), this part may not be varied by agreement.

(b) The duties under Sections 7-9A-908(a) and 7-9A-909(a) may not be disclaimed by agreement. An assignor and the assignee may determine by agreement the standards measuring the fulfillment of the duties of the assignor under Section 7-9A-908 and the assignee under Section 7-9A-909 if the standards are not manifestly unreasonable.

(c) Except as provided in Section 7-9A-917(d), the assignment agreement may limit the assignee’s liability under Section 7-9A-917 and may require the assignee be indemnified by the assignment estate.

(d) Except as provided under Section 7-9A-907(a), whenever this part requires an action to be taken within a reasonable time, a time not manifestly unreasonable may be fixed by agreement.

(e) The assignment agreement may provide for duties of the assignee in addition to those in this part.

Collected 2026-10-10T05:41:29Z. Source file · JSON

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