Section 35-NEW - [Newly enacted section not yet numbered] [Effective 1/1/2025] Status of receiver(a) On appointment of a receiver, the receiver has the status of a lien creditor under Article 9A of Title 7, Code of Alabama 1975, as to receivership property that is personal property or fixtures.(b) On appointment of a receiver, the receiver has the status of a purchaser for value and without notice under Section 35-4-90(a), Code of Alabama 1975, as to receivership property that is real property.Ala. Code § 35-NEW (1975)
Added by Act 2024-380,§ 9, eff. 1/1/2025.