Every sale or assignment of personal property unless accompanied by the immediate delivery and the actual and continued change of possession of the thing sold or assigned is presumed prima facie to be a fraud against the creditors of the vendor or assignor, and subsequent purchasers in good faith and for a valuable consideration during the time the property remains in the possession of the vendor or assignor, except that retention of possession in good faith and current course of trade by a merchant seller for a commercially reasonable time after a sale or identification is not fraudulent, and nothing contained in this section shall supersede the provisions of AS 45.01 - AS 45.08, AS 45.12, AS 45.14, and AS 45.29 (Uniform Commercial Code).
Section: Previous 09.25.010 09.25.020 09.25.030 09.25.040 09.25.050 09.25.051 09.25.060 09.25.070 09.25.080 09.25.090 09.25.095 09.25.100-09.25.125 09.25.130 09.25.140 09.25.150 NextLast modified: November 15, 2016