(a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person,
(1) the secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and
(2) the secured party's failure to comply with this chapter does not affect the liability of the person for a deficiency.
(b) A secured party is not liable because of its status as secured party
(1) to a person who is a debtor or obligor unless the secured party knows
(A) that the person is a debtor or obligor;
(B) the identity of the person; and
(C) how to communicate with the person; or
(2) to a secured party or lienholder that has filed a financing statement against a person unless the secured party knows
(A) that the person is a debtor; and
(B) the identity of the person.
(c) A secured party is not liable to a person, and a person's liability for a deficiency is not affected, because of an act or omission arising out of the secured party's reasonable belief that a transaction is not a consumer goods transaction or a consumer transaction or that goods are not consumer goods if the secured party's belief is based on its reasonable reliance on
(1) a debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or
(2) an obligor's representation concerning the purpose for which a secured obligation was incurred.
(d) A secured party is not liable to a person under AS 45.29.625(c)(2) for its failure to comply with AS 45.29.616.
(e) A secured party is not liable under AS 45.29.625(c)(2) more than once with respect to any one secured obligation.
Structure Alaska Statutes
Chapter 29. Secured Transactions
Sec. 45.29.602. Waiver and variance of rights and duties.
Sec. 45.29.603. Agreement on standards concerning rights and duties.
Sec. 45.29.604. Procedure if security agreement covers real property or fixtures.
Sec. 45.29.605. Unknown debtor or secondary obligor.
Sec. 45.29.606. Time of default for agricultural lien.
Sec. 45.29.607. Collection and enforcement by secured party.
Sec. 45.29.609. Secured party's right to take possession after default.
Sec. 45.29.610. Disposition of collateral after default.
Sec. 45.29.611. Notification before disposition of collateral.
Sec. 45.29.612. Timeliness of notification before disposition of collateral.
Sec. 45.29.613. General notification before disposition of collateral.
Sec. 45.29.614. Notification before disposition of collateral in consumer goods transaction.
Sec. 45.29.616. Explanation of calculation of surplus or deficiency.
Sec. 45.29.617. Rights of transferee of collateral.
Sec. 45.29.618. Rights and duties of certain secondary obligors.
Sec. 45.29.619. Transfer of record or legal title.
Sec. 45.29.621. Notification of proposal to accept collateral.
Sec. 45.29.622. Effect of acceptance of collateral.
Sec. 45.29.623. Right to redeem collateral.
Sec. 45.29.625. Remedies for secured party's failure to comply with chapter.
Sec. 45.29.626. Action in which deficiency or surplus is in issue.
Sec. 45.29.627. Determination of whether conduct was commercially reasonable.