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AS 45.29.110

Security interests arising under AS 45.02 or AS 45.12

Known as the Uniform Commercial Code

The act spans §§ 45–45 (615 sections).

A security interest arising under AS 45.02.401, 45.02.505, 45.02.711(c), or AS 45.12.508(e) is subject to this chapter. However, until the debtor obtains possession of the goods, (1) the security interest is enforceable even if AS 45.29.203(b)(3) has not been satisfied;

(2) filing is not required to perfect the security interest;

(3) the rights of the secured party after default by the debtor are governed by AS 45.02 or AS 45.12; and

(4) the security interest has priority over a conflicting security interest created by the debtor.

Article 2. Security Agreements; Security Interests.

Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.