Alaska Statutes Title 45, Chapter 45.29, Article 03 - 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 following rules determine the law governing perfection, the effect of perfection or nonperfection, and...
• Sec. 45.29.302 Law Governing Perfection and Priority of Agricultural Liens.
  While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the...
• 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 of title even if there is no other relationship between the jurisdiction under whose...
• 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, the effect of perfection or nonperfection, and the priority of a security interest in...
• 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, the following rules apply:(1) while a security certificate is located in a jurisdiction, the...
• 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 of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of...
• Sec. 45.29.307 Location of Debtor.
  (a) In this section, "place of business" means a place where a debtor conducts its affairs.(b) Except as otherwise provided in this section, the...
• 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 45.29.309, a security interest is perfected if it has attached and all of the...
• Sec. 45.29.309 Security Interest Perfected Upon Attachment.
  The following security interests are perfected when they attach:(1) a purchase money security interest in consumer goods, except as otherwise provided in AS 45.29.311...
• 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 and AS 45.29.312(b), a financing statement must be filed to perfect all security interests...
• 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, the filing of a financing statement is not necessary or effective to perfect a...
• 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 Without Filing or Transfer of Possession.
  (a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing.(b) Except as otherwise provided in AS...
• 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, a secured party may perfect a security interest in tangible negotiable documents, goods, instruments,...
• Sec. 45.29.314 Perfection by Control.
  (a) A security interest in deposit accounts, electronic chattel paper, investment property, letter-of-credit rights, or electronic documents may be perfected by control of the...
• 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 security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other...
• Sec. 45.29.316 Continued Perfection of Security Interest Following Change in Governing Law.
  (a) A security interest perfected under the law of the jurisdiction designated in AS 45.29.301 (1) or 45.29.305(c) remains perfected until the earliest of(1)...
• 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 the rights of a person(1) entitled to priority under AS 45.29.322 ; and(2) except...
• 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, payment intangible, or promissory note does not retain a legal or equitable interest in...
• 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, for purposes of determining the rights of creditors of, and purchasers for value of...
• Sec. 45.29.320 Buyer of Goods.
  (a) Except as otherwise provided in (e) of this section, a buyer in ordinary course of business, other than a person buying farm products...
• 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" means a person who becomes a licensee of a general intangible in good faith,...
• 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 conflicting security interests and agricultural liens in the same collateral is determined according to...
• Sec. 45.29.323 Future Advances.
  (a) Except as otherwise provided in (c) of this section, for purposes of determining the priority of a perfected security interest under AS 45.29.322...
• Sec. 45.29.324 Priority of Purchase Money Security Interests.
  (a) Except as otherwise provided in (g) of this section, a perfected purchase money security interest in goods other than inventory or livestock has...
• Sec. 45.29.325 Priority of Security Interests in Transferred Collateral.
  (a) Except as otherwise provided in (b) of this section, a security interest created by a debtor is subordinate to a security interest in...
• Sec. 45.29.326 Priority of Security Interests Created by New Debtor.
  (a) Subject to (b) of this section, a security interest that is created by a new debtor in collateral in which the new debtor...
• Sec. 45.29.327 Priority of Security Interests in Deposit Account.
  The following rules govern priority among conflicting security interests in the same deposit account:(1) a security interest held by a secured party having control...
• Sec. 45.29.328 Priority of Security Interests in Investment Property.
  The following rules govern priority among conflicting security interests in the same investment property:(1) a security interest held by a secured party having control...
• Sec. 45.29.329 Priority of Security Interests in Letter-Of-credit Right.
  The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) a security interest held by a secured party having control...
• Sec. 45.29.330 Priority of Purchaser of Chattel Paper or Instrument.
  (a) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory...
• 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 holder in due course of a negotiable instrument, a holder to which a negotiable...
• Sec. 45.29.332 Transfer of Money; Transfer of Funds From Deposit Account.
  (a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating...
• Sec. 45.29.333 Priority of Certain Liens Arising by Operation of Law.
  (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien,(1) that secures payment or performance of...
• Sec. 45.29.334 Priority of Security Interests in Fixtures and Crops.
  (a) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A...
• Sec. 45.29.335 Accessions.
  (a) A security interest may be created in an accession and continues in collateral that becomes an accession.(b) If a security interest is perfected...
• Sec. 45.29.336 Commingled Goods.
  (a) In this section, "commingled goods" means goods that are physically united with other goods in a manner so that their identity is lost...
• 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 a method under the law of another jurisdiction, this state issues a certificate of...
• 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 a filed financing statement providing information described in AS 45.29.516(b)(5) that is incorrect at...
• Sec. 45.29.339 Priority Subject to Subordination.
  This chapter does not preclude subordination by agreement by a person entitled to priority.
• Sec. 45.29.340 Effectiveness of Right of Recoupment or Setoff Against Deposit Account.
  (a) Except as otherwise provided in (c) of this section, a bank with which a deposit account is maintained may exercise a right of...
• 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 bank otherwise agrees in an authenticated record, a bank's rights and duties with...
• 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 an agreement of the kind described in AS 45.29.104 (a)(2), even if its customer...

Last modified: November 15, 2016