Provisions Variable by Agreement

Ala. Code § 7-9A-923, under The Uniform Assignment for Benefit of Creditors Act.

Ala. Code § 7-9A-923

(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. (Act 2026-581, §23.)