2006 Alabama Code - Section 32-8-60.1 — Security interest not created where rental price may be adjusted by reference to amount realized upon sale.

This chapter does not apply to or affect any of the following:

(1) A lien given by statute or rule of law to a supplier of services or materials for the vehicle.

(2) A lien given by statute to the United States, this state, or any political subdivision of this state.

(3) A security interest in a vehicle created by a manufacturer or dealer who holds the vehicle for sale, but a buyer in the ordinary course of trade from the manufacturer or dealer takes title free of the security interest.

(4) A lien on a utility trailer exempted under this chapter when the lien was created or established on or after January 1, 2004.

(Acts 1973, No. 765, p. 1147, §18; Act 2003-345, p. 870, §1.)

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