(a) Except as otherwise provided in (c) of this section, the following rules apply:
(1) while a security certificate is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in the certificated security represented by the security certificate;
(2) the local law of the issuer's jurisdiction as specified in AS 45.08.110 governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in an uncertificated security;
(3) the local law of the securities intermediary's jurisdiction as specified in AS 45.08.110(e) governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a security entitlement or securities account;
(4) the local law of the commodity intermediary's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a commodity contract or commodity account.
(b) The following rules determine a commodity intermediary's jurisdiction for purposes of AS 45.29.301 - 45.29.342:
(1) if an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that a particular jurisdiction is the commodity intermediary's jurisdiction for purposes of AS 45.29.301 - 45.29.342, this chapter, or the code, that jurisdiction is the commodity intermediary's jurisdiction;
(2) if (1) of this subsection does not apply and an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the commodity intermediary's jurisdiction;
(3) if neither (1) nor (2) of this subsection applies and an agreement between the commodity intermediary and commodity customer governing the commodity account expressly provides that the commodity account is maintained at an office in a particular jurisdiction, that jurisdiction is the commodity intermediary's jurisdiction;
(4) if (1), (2), or (3) of this subsection does not apply, the commodity intermediary's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the commodity customer's account is located;
(5) if (1), (2), (3), or (4) of this subsection does not apply, the commodity intermediary's jurisdiction is the jurisdiction in which the chief executive office of the commodity intermediary is located.
(c) The local law of the jurisdiction in which the debtor is located governs
(1) perfection of a security interest in investment property by filing;
(2) automatic perfection of a security interest in investment property created by a broker or securities intermediary; and
(3) automatic perfection of a security interest in a commodity contract or commodity account created by a commodity intermediary.
Structure Alaska Statutes
Chapter 29. Secured Transactions
Article 3. Perfection and Priority.
Sec. 45.29.301. Law governing perfection and priority of security interests.
Sec. 45.29.302. Law governing perfection and priority of agricultural liens.
Sec. 45.29.304. Law governing perfection and priority of security interests in deposit accounts.
Sec. 45.29.305. Law governing perfection and priority of security interests in investment property.
Sec. 45.29.307. Location of debtor.
Sec. 45.29.308. When security interest or agricultural lien is perfected; continuity of perfection.
Sec. 45.29.309. Security interest perfected upon attachment.
Sec. 45.29.314. Perfection by control.
Sec. 45.29.315. Secured party's rights on disposition of collateral and in proceeds.
Sec. 45.29.316. Continued perfection of security interest following change in governing law.
Sec. 45.29.319. Rights and title of consignee with respect to creditors and purchasers.
Sec. 45.29.320. Buyer of goods.
Sec. 45.29.321. Licensee of general intangible and lessee of goods in ordinary course of business.
Sec. 45.29.323. Future advances.
Sec. 45.29.324. Priority of purchase money security interests.
Sec. 45.29.325. Priority of security interests in transferred collateral.
Sec. 45.29.326. Priority of security interests created by new debtor.
Sec. 45.29.327. Priority of security interests in deposit account.
Sec. 45.29.328. Priority of security interests in investment property.
Sec. 45.29.329. Priority of security interests in letter-of-credit right.
Sec. 45.29.330. Priority of purchaser of chattel paper or instrument.
Sec. 45.29.332. Transfer of money; transfer of funds from deposit account.
Sec. 45.29.333. Priority of certain liens arising by operation of law.
Sec. 45.29.334. Priority of security interests in fixtures and crops.
Sec. 45.29.336. Commingled goods.
Sec. 45.29.337. Priority of security interests in goods covered by certificate of title.
Sec. 45.29.339. Priority subject to subordination.
Sec. 45.29.340. Effectiveness of right of recoupment or setoff against deposit account.
Sec. 45.29.341. Bank's rights and duties with respect to deposit account.
Sec. 45.29.342. Bank's right to refuse to enter into or disclose existence of control agreement.