Alaska Statutes
Title 45. Trade and Commerce
Chapter 29. Secured Transactions

Sec. 45.29.103. Purchase money security interest; application of payments; burden of establishing. - (a) In this section, (1) “purchase money collateral” means goods...

Sec. 45.29.104. Control of deposit account. - (a) A secured party has control of a deposit account...

Sec. 45.29.105. Control of electronic chattel paper. - (a) A secured party has control of electronic chattel paper...

Sec. 45.29.106. Control of investment property. - (a) A person has control of a certificated security, uncertificated...

Sec. 45.29.107. Control of letter-of-credit right. - A secured party has control of a letter-of-credit right to...

Sec. 45.29.108. Sufficiency of description. - (a) Except as otherwise provided in (c) - (e) of...

Sec. 45.29.109. Scope. - (a) Except as otherwise provided in (c) and (d) of...

Sec. 45.29.110. Security interests arising under AS 45.02 or AS 45.12. - A security interest arising under AS 45.02.401, 45.02.505, 45.02.711(c), or...

Article 2. Security Agreements; Security Interests.

Sec. 45.29.201. General effectiveness of security agreement. - (a) Except as otherwise provided in the code, a security...

Sec. 45.29.202. Title to collateral immaterial. - Except as otherwise provided with respect to consignments or sales...

Sec. 45.29.203. Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. - (a) A security interest attaches to collateral when it becomes...

Sec. 45.29.204. After-acquired property; future advances. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.205. Use or disposition of collateral permissible. - (a) A security interest is not invalid or fraudulent against...

Sec. 45.29.206. Security interest arising in purchase or delivery of financial asset. - (a) A security interest in favor of a securities intermediary...

Sec. 45.29.207. Rights and duties of secured party having possession or control of collateral. - (a) Except as otherwise provided in (d) of this section,...

Sec. 45.29.208. Additional duties of secured party having control of collateral. - (a) This section applies to a case in which there...

Sec. 45.29.209. Duties of secured party if account debtor has been notified of assignment. - (a) Except as otherwise provided in (c) of this section,...

Sec. 45.29.210. Request for accounting; request regarding list of collateral or statement of account. - (a) In this section, (1) “request” means a record of...

Article 3. Perfection and Priority.

Sec. 45.29.301. Law governing perfection and priority of security interests. - Except as otherwise provided in AS 45.29.303 - 45.29.306, the...

Sec. 45.29.302. Law governing perfection and priority of agricultural liens. - While farm products are located in a jurisdiction, the local...

Sec. 45.29.303. Law governing perfection and priority of security interests in goods covered by a certificate of title. - (a) This section applies to goods covered by a certificate...

Sec. 45.29.304. Law governing perfection and priority of security interests in deposit accounts. - (a) The local law of a bank's jurisdiction governs perfection,...

Sec. 45.29.305. Law governing perfection and priority of security interests in investment property. - (a) Except as otherwise provided in (c) of this section,...

Sec. 45.29.306. Law governing perfection and priority of security interests in letter-of-credit rights. - (a) Subject to (c) of this section, the local law...

Sec. 45.29.307. Location of debtor. - (a) In this section, “place of business” means a place...

Sec. 45.29.308. When security interest or agricultural lien is perfected; continuity of perfection. - (a) Except as otherwise provided in this section and AS...

Sec. 45.29.309. Security interest perfected upon attachment. - The following security interests are perfected when they attach: (1)...

Sec. 45.29.310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. - (a) Except as otherwise provided in (b) of this section...

Sec. 45.29.311. Perfection of security interests in property subject to certain statutes, regulations, and treaties. - (a) Except as otherwise provided in (d) of this section,...

Sec. 45.29.312. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection wi... - (a) A security interest in chattel paper, negotiable documents, instruments,...

Sec. 45.29.313. When possession by or delivery to secured party perfects security interest without filing. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.314. Perfection by control. - (a) A security interest in deposit accounts, electronic chattel paper,...

Sec. 45.29.315. Secured party's rights on disposition of collateral and in proceeds. - (a) Except as otherwise provided in this chapter, (1) a...

Sec. 45.29.316. Continued perfection of security interest following change in governing law. - (a) A security interest perfected under the law of the...

Sec. 45.29.317. Interests that take priority over or take free of security interest or agricultural lien. - (a) A security interest or agricultural lien is subordinate to...

Sec. 45.29.318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers. - (a) A debtor that has sold an account, chattel paper,...

Sec. 45.29.319. Rights and title of consignee with respect to creditors and purchasers. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.320. Buyer of goods. - (a) Except as otherwise provided in (e) of this section,...

Sec. 45.29.321. Licensee of general intangible and lessee of goods in ordinary course of business. - (a) In this section, “licensee in ordinary course of business”...

Sec. 45.29.322. Priorities among conflicting security interests in and agricultural liens on same collateral. - (a) Except as otherwise provided in this section, priority among...

Sec. 45.29.323. Future advances. - (a) Except as otherwise provided in (c) of this section,...

Sec. 45.29.324. Priority of purchase money security interests. - (a) Except as otherwise provided in (g) of this section,...

Sec. 45.29.325. Priority of security interests in transferred collateral. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.326. Priority of security interests created by new debtor. - (a) Subject to (b) of this section, a security interest...

Sec. 45.29.327. Priority of security interests in deposit account. - The following rules govern priority among conflicting security interests in...

Sec. 45.29.328. Priority of security interests in investment property. - The following rules govern priority among conflicting security interests in...

Sec. 45.29.329. Priority of security interests in letter-of-credit right. - The following rules govern priority among conflicting security interests in...

Sec. 45.29.330. Priority of purchaser of chattel paper or instrument. - (a) A purchaser of chattel paper has priority over a...

Sec. 45.29.331. Priority of rights of purchasers of instruments, documents, and securities under other chapters; priority of interests in financial assets and security entitlements under AS 45.08. - (a) This chapter does not limit the rights of a...

Sec. 45.29.332. Transfer of money; transfer of funds from deposit account. - (a) A transferee of money takes the money free of...

Sec. 45.29.333. Priority of certain liens arising by operation of law. - (a) In this section, “possessory lien” means an interest, other...

Sec. 45.29.334. Priority of security interests in fixtures and crops. - (a) A security interest under this chapter may be created...

Sec. 45.29.335. Accessions. - (a) A security interest may be created in an accession...

Sec. 45.29.336. Commingled goods. - (a) In this section, “commingled goods” means goods that are...

Sec. 45.29.337. Priority of security interests in goods covered by certificate of title. - If, while a security interest in goods is perfected by...

Sec. 45.29.338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. - If a security interest or agricultural lien is perfected by...

Sec. 45.29.339. Priority subject to subordination. - This chapter does not preclude subordination by agreement by a...

Sec. 45.29.340. Effectiveness of right of recoupment or setoff against deposit account. - (a) Except as otherwise provided in (c) of this section,...

Sec. 45.29.341. Bank's rights and duties with respect to deposit account. - Except as otherwise provided in AS 45.29.340(c), and unless the...

Sec. 45.29.342. Bank's right to refuse to enter into or disclose existence of control agreement. - This chapter does not require a bank to enter into...

Article 4. Rights of Third Parties.

Sec. 45.29.401. Alienability of debtor's rights. - (a) Except as otherwise provided in (b) of this section...

Sec. 45.29.402. Secured party not obligated on contract of debtor or in tort. - The existence of a security interest, agricultural lien, or authority...

Sec. 45.29.403. Agreement not to assert defenses against assignee. - (a) In this section, the issue of whether an assignment...

Sec. 45.29.404. Rights acquired by assignee; claims and defenses against assignee. - (a) Unless an account debtor has made an enforceable agreement...

Sec. 45.29.405. Modification of assigned contract. - (a) A modification of or substitution for an assigned contract...

Sec. 45.29.406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective. - (a) Subject to (b) - (i) of this section, an...

Sec. 45.29.407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.408. Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.409. Restrictions on assignment of letter-of-credit rights ineffective. - (a) A term in a letter of credit or a...

Article 5. Filing.

Sec. 45.29.501. Filing office. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.502. Contents of financing statement; mortgage as financing statement; time of filing financing statement. - (a) Subject to (b) of this section, a financing statement...

Sec. 45.29.503. Name of debtor and secured party. - (a) A financing statement sufficiently provides the name of the...

Sec. 45.29.504. Indication of collateral. - A financing statement sufficiently indicates the collateral that it covers...

Sec. 45.29.505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. - (a) A consignor, lessor, or other bailor of goods, a...

Sec. 45.29.506. Effect of errors or omissions. - (a) A financing statement substantially satisfying the requirements of AS...

Sec. 45.29.507. Effect of certain events on effectiveness of financing statement. - (a) A filed financing statement remains effective with respect to...

Sec. 45.29.508. Effectiveness of financing statement if new debtor becomes bound by security agreement. - (a) Except as otherwise provided in this section, a filed...

Sec. 45.29.509. Persons entitled to file a record. - (a) A person may file an initial financing statement, amendment...

Sec. 45.29.510. Effectiveness of filed record. - (a) A filed record is effective only to the extent...

Sec. 45.29.511. Secured party of record. - (a) A secured party of record with respect to a...

Sec. 45.29.512. Amendment of financing statement. - (a) Subject to AS 45.29.509, a person may add or...

Sec. 45.29.513. Termination statement. - (a) A secured party shall cause the secured party of...

Sec. 45.29.514. Assignment of powers of secured party of record. - (a) Except as otherwise provided in (c) of this section,...

Sec. 45.29.515. Duration and effectiveness of financing statement; effect of lapsed financing statement. - (a) Except as otherwise provided in (b) and (e) -...

Sec. 45.29.516. What constitutes filing; effectiveness of filing. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.517. Effect of indexing errors. - The failure of the filing office to index a record...

Sec. 45.29.518. Claim concerning inaccurate or wrongfully filed record. - (a) A person may file in the filing office an...

Sec. 45.29.519. Numbering, maintaining, and indexing records; communicating information provided in records. - (a) For each record filed in a filing office, the...

Sec. 45.29.520. Acceptance and refusal to accept record. - (a) A filing office shall refuse to accept a record...

Sec. 45.29.522. Maintenance and destruction of records. - (a) The filing office shall maintain a record of the...

Sec. 45.29.523. Information from filing office; sale or license of records. - (a) If a person who files a written record requests...

Sec. 45.29.524. Delay by filing office. - Delay by the filing office beyond a time limit prescribed...

Sec. 45.29.525. Fees. - The Department of Natural Resources shall adopt regulations that set...

Sec. 45.29.530. Accounting; appropriations. - Under AS 37.05.146(c), fees for services for recording and related...

Article 6. Default.

Sec. 45.29.601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. - (a) After default, a secured party has the rights provided...

Sec. 45.29.602. Waiver and variance of rights and duties. - Except as otherwise provided in AS 45.29.624, to the extent...

Sec. 45.29.603. Agreement on standards concerning rights and duties. - (a) The parties may determine by agreement the standards measuring...

Sec. 45.29.604. Procedure if security agreement covers real property or fixtures. - (a) If a security agreement covers both personal and real...

Sec. 45.29.605. Unknown debtor or secondary obligor. - A secured party does not owe a duty based on...

Sec. 45.29.606. Time of default for agricultural lien. - For purposes of AS 45.29.601 - 45.29.628, a default occurs...

Sec. 45.29.607. Collection and enforcement by secured party. - (a) If so agreed and, in any event, after default,...

Sec. 45.29.608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. - (a) If a security interest or agricultural lien secures payment...

Sec. 45.29.609. Secured party's right to take possession after default. - (a) After default, a secured party (1) may take possession...

Sec. 45.29.610. Disposition of collateral after default. - (a) After default, a secured party may sell, lease, license,...

Sec. 45.29.611. Notification before disposition of collateral. - (a) In this section, “notification date” means the earlier of...

Sec. 45.29.612. Timeliness of notification before disposition of collateral. - (a) Except as otherwise provided in (b) of this section,...

Sec. 45.29.613. General notification before disposition of collateral. - Except in a consumer goods transaction, the following rules apply:...

Sec. 45.29.614. Notification before disposition of collateral in consumer goods transaction. - In a consumer goods transaction, the following rules apply: (1)...

Sec. 45.29.615. Application of proceeds of disposition; liability for deficiency and right to surplus. - (a) A secured party shall apply or pay over for...

Sec. 45.29.616. Explanation of calculation of surplus or deficiency. - (a) In this section, (1) “explanation” means a writing that...

Sec. 45.29.617. Rights of transferee of collateral. - (a) A secured party's disposition of collateral after default (1)...

Sec. 45.29.618. Rights and duties of certain secondary obligors. - (a) A secondary obligor acquires the rights and becomes obligated...

Sec. 45.29.619. Transfer of record or legal title. - (a) In this section, “transfer statement” means a record authenticated...

Sec. 45.29.620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. - (a) Except as otherwise provided in (g) of this section,...

Sec. 45.29.621. Notification of proposal to accept collateral. - (a) A secured party who desires to accept collateral in...

Sec. 45.29.622. Effect of acceptance of collateral. - (a) A secured party's acceptance of collateral in full or...

Sec. 45.29.623. Right to redeem collateral. - (a) A debtor, a secondary obligor, or other secured party...

Sec. 45.29.624. Waiver. - (a) A debtor or secondary obligor may waive the right...

Sec. 45.29.625. Remedies for secured party's failure to comply with chapter. - (a) If it is established that a secured party is...

Sec. 45.29.626. Action in which deficiency or surplus is in issue. - (a) In an action arising from a transaction, other than...

Sec. 45.29.627. Determination of whether conduct was commercially reasonable. - (a) The fact that a greater amount could have been...

Sec. 45.29.628. Nonliability and limitation on liability of secured party; liability of secondary obligor. - (a) Unless a secured party knows that a person is...

Article 7. Transitional Provisions.

Sec. 45.29.702. Savings clause. - (a) Except as otherwise provided in AS 45.29.702 - 45.29.709,...

Sec. 45.29.703. Security interest perfected before effective date. - (a) A security interest that is enforceable June 30, 2001,...

Sec. 45.29.704. Security interest unperfected before effective date. - A security interest that is enforceable June 30, 2001, but...

Sec. 45.29.705. Effectiveness of action taken before effective date. - (a) If action, other than the filing of a financing...

Sec. 45.29.706. When initial financing statement suffices to continue effectiveness of financing statement. - (a) The filing of an initial financing statement in the...

Sec. 45.29.707. Amendment of pre-effective date financing statement. - (a) On or after July 1, 2001, a person may...

Sec. 45.29.708. Persons entitled to file initial financing statement or continuation statement. - A person may file an initial financing statement or a...

Sec. 45.29.709. Priority. - (a) This chapter determines the priority of conflicting claims to...

Article 8. Transitional Provisions for 2013 Amendments.

Sec. 45.29.802. Applicability. - Except as otherwise provided in AS 45.29.803 - 45.29.807, AS...

Sec. 45.29.803. Security interest perfected before July 1, 2013. - (a) A security interest that is a perfected security interest...

Sec. 45.29.804. Security interest unperfected before July 1, 2013. - A security interest that is an unperfected security interest on...

Sec. 45.29.805. Effectiveness of action taken before July 1, 2013. - (a) The filing of a financing statement before July 1,...

Sec. 45.29.806. When initial financing statement suffices to continue effectiveness of financing statement. - (a) The filing of an initial financing statement in the...

Sec. 45.29.807. Amendment of pre-effective-date financing statement. - (a) After July 1, 2013, a person may add or...

Sec. 45.29.808. Person entitled to file initial financing statement or continuation statement. - A person may file an initial financing statement or a...

Sec. 45.29.809. Priority. - AS 45.29.102(a)(8), (13), (61), (85), and (88), 45.29.105, 45.29.307(f), 45.29.311(a),...

Sec. 45.29.810. Instructions to department of natural resources. - (a) The Department of Natural Resources shall adopt, amend, or...

Sec. 45.29.811. Saving clause. - AS 45.29.102(a)(8), (13), (61), (85), and (88), 45.29.105, 45.29.307(f), 45.29.311(a),...

<< Previous

Next >>

Alaska Statutes Title 45. Trade and Commerce Chapter 29. Secured Transactions

Alaska Statutes
Title 45. Trade and Commerce
Chapter 29. Secured Transactions