(a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules:
(1) conflicting perfected security interests and agricultural liens rank according to priority in time of filing or perfection; priority dates from the earlier of the time a filing covering the collateral is first made or the security interest or agricultural lien is first perfected if there is no period thereafter when there is neither filing nor perfection;
(2) a perfected security interest or agricultural lien has priority over a conflicting unperfected security interest or agricultural lien;
(3) the first security interest or agricultural lien to attach or become effective has priority if conflicting security interests and agricultural liens are unperfected.
(b) For the purposes of (a)(1) of this section, the time of filing or perfection as to a security interest in collateral
(1) is also the time of filing or perfection as to a security interest in proceeds; and
(2) supported by a supporting obligation is also the time of filing or perfection as to a security interest in the supporting obligation.
(c) Except as otherwise provided in (f) of this section, a security interest in collateral that qualifies for priority over a conflicting security interest under AS 45.29.327, 45.29.328, 45.29.329, 45.29.330, or 45.29.331 also has priority over a conflicting security interest in
(1) supporting obligation for the collateral; and
(2) proceeds of the collateral if
(A) the security interest in proceeds is perfected;
(B) the proceeds are cash proceeds or of the same type as the collateral; and
(C) in the case of proceeds that are proceeds of proceeds, all intervening proceeds are cash proceeds, proceeds of the same type as the collateral, or an account relating to the collateral.
(d) Subject to (e) of this section and except as otherwise provided in (f) of this section, if a security interest in chattel paper, deposit accounts, negotiable documents, instruments, investment property, or letter-of-credit rights is perfected by a method other than filing, conflicting perfected security interests in proceeds of the collateral rank according to priority in time of filing.
(e) The provisions of (d) of this section apply only if the proceeds of the collateral are not cash proceeds, chattel paper, negotiable documents, instruments, investment property, or letter-of-credit rights.
(f) The provisions of (a) - (e) of this section are subject to
(1) the provisions of (g) of this section and the other provisions of AS 45.29.301 - 45.29.342;
(2) AS 45.04.210 with respect to a security interest of a collecting bank;
(3) AS 45.05.118 with respect to a security interest of an issuer or nominated person; and
(4) AS 45.29.110 with respect to a security interest arising under AS 45.02 or AS 45.12.
(g) A perfected agricultural lien on collateral has priority over a conflicting security interest in or agricultural lien on the same collateral if the statute creating the agricultural lien so provides.
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.