Alaska Stat. § 45.05.102 — AK Code / Title 45 / Chapter 45.05 / Section 45.05.102
Definitions.
Status: in_force

(a) In this chapter, (1) adviser means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed, or amended;

(2) applicant means a person at whose request or for whose account a letter of credit is issued; applicant includes a person who requests an issuer to issue a letter of credit on behalf of another if the person making the request undertakes an obligation to reimburse the issuer;

(3) beneficiary means a person who under the terms of a letter of credit is entitled to have the letter of credit's complying presentation honored; beneficiary includes a person to whom drawing rights have been transferred under a transferable letter of credit;

(4) confirmer means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another;

(5) dishonor of a letter of credit means the failure timely to honor or to take an interim action, such as acceptance of a draft, that may be required by the letter of credit;

(6) document means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion that is (A) presented in a written or other medium permitted by the letter of credit or, unless prohibited by the letter of credit, by the standard practice referred to in AS 45.05.108 (e);

(B) capable of being examined for compliance with the terms and conditions of the letter of credit; and

(C) not oral;

(7) good faith means honesty in fact in the conduct or transaction concerned;

(8) honor of a letter of credit means performance of the issuer's undertaking in the letter of credit to pay or deliver an item of value; unless the letter of credit provides otherwise, honor occurs (A) upon payment;

(B) if the letter of credit provides for acceptance, upon acceptance of a draft and, at maturity, its payment; or

(C) if the letter of credit provides for incurring a deferred obligation, upon incurring the obligation and, at maturity, its performance;

(9) issuer means a bank or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes;

(10) letter of credit means a definite undertaking that satisfies the requirements of AS 45.05.104 by an issuer to a beneficiary at the request or for the account of an applicant, or, in the case of a financial institution, to itself or for its own account, to honor a documentary presentation by payment or delivery of an item of value;

(11) nominated person means a person whom the issuer (A) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit; and

(B) undertakes by agreement or custom and practice to reimburse;

(12) presentation means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit;

(13) presenter means a person making a presentation as or on behalf of a beneficiary or nominated person;

(14) record means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form;

(15) successor of a beneficiary means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, an executor, a personal representative, a trustee in bankruptcy, a debtor in possession, a liquidator, and a receiver.

(b) The following definitions that apply to this chapter and the sections in which they appear are (1) accept or acceptance ( AS 45.03.409 );

(2) value ( AS 45.03.303 and AS 45.04.211 ).

(c) AS 45.01 contains certain additional general definitions and principles of construction and interpretation applicable throughout this chapter.
Alaska Stat. § 45.12.309 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.309
Lessor's and lessee's rights when goods become fixtures.
Status: in_force

(a) Under this chapter a lease may be of goods that are fixtures or may continue in goods that become fixtures, but a lease does not exist under this chapter of ordinary building materials incorporated into an improvement on land.

(b) This chapter does not prevent creation of a lease of fixtures under real estate law.

(c) The perfected interest of a lessor of fixtures has priority over a conflicting interest of an encumbrancer or owner of the real estate if (1) the lease is a purchase money lease, the conflicting interest of the encumbrancer or owner arises before the goods become fixtures, the interest of the lessor is perfected by a fixture filing before the goods become fixtures or within 10 days after becoming fixtures, and the lessee has an interest of record in the real estate or is in possession of the real estate; or

(2) the interest of the lessor is perfected by a fixture filing before the interest of the encumbrancer or owner is of record, the lessor's interest has priority over a conflicting interest of a predecessor in title of the encumbrancer or owner, and the lessee has an interest of record in the real estate or is in possession of the real estate.

(d) The interest of a lessor of fixtures, whether or not perfected, has priority over the conflicting interest of an encumbrancer or owner of the real estate if (1) the fixtures are readily removable factory or office machines, readily removable equipment that is not primarily used or leased for use in the operation of the real estate, or readily removable replacements of domestic appliances that are goods subject to a consumer lease, and before the goods become fixtures the lease contract is enforceable;

(2) the conflicting interest is a lien on the real estate obtained by legal or equitable proceedings after the lease contract is enforceable;

(3) the encumbrancer or owner has consented in writing to the lease or has disclaimed an interest in the goods as fixtures; or

(4) the lessee has a right to remove the goods as against the encumbrancer or owner; if the lessee's right to remove terminates, the priority of the interest of the lessor continues for a reasonable time.

(e) Notwithstanding (c)(1) of this section but otherwise subject to (c) and (d) of this section, the interest of a lessor of fixtures, including the lessor's residual interest, is subordinate to the conflicting interest of an encumbrancer of the real estate under a construction mortgage recorded before the goods become fixtures if the goods become fixtures before the completion of the construction. To the extent given to refinance a construction mortgage, the conflicting interest of an encumbrancer of the real estate under a mortgage has this priority to the same extent as the encumbrancer of the real estate under the construction mortgage.

(f) In cases not within (a)  (e) of this section, priority between the interest of a lessor of fixtures, including the lessor's residual interest, and the conflicting interest of an encumbrancer or owner of the real estate who is not the lessee is determined by the priority rules governing conflicting interests in real estate.

(g) Subject to (h) of this section, if the interest of a lessor of fixtures, including the lessor's residual interest, has priority over all conflicting interests of all owners and encumbrances of the real estate, the lessor or the lessee may remove the goods from the real estate, free and clear of all conflicting interests of all owners and encumbrancers of the real estate, but the lessor or the lessee must reimburse an encumbrancer or owner of the real estate who is not the lessee and who has not otherwise agreed, for the cost of repair of physical injury, but not for a diminution in value of the real estate caused by the absence of the goods removed or by a necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation.

(h) The lessor or the lessee may remove the goods under (g) of this section (1) on default, expiration, termination, or cancellation of the lease agreement but subject to the lease agreement and this chapter; or

(2) if necessary to enforce other rights and remedies of the lessor or the lessee under this chapter.

(i) Even though the lease agreement does not create a security interest, the interest of a lessor of fixtures, including the lessor's residual interest, is perfected by recording a financing statement as a fixture filing for leased goods that are or are to become fixtures under the relevant provisions of AS 45.29 on secured transactions.

(j) In this section, (1) encumbrance includes real estate mortgages and other liens on real estate and all other rights in real estate that are not ownership interests;

(2) a fixture filing is the recording, in the office where a mortgage on the real estate would be recorded, of a financing statement covering goods that are or are to become fixtures and conforming to the requirements of AS 45.29.502 (a) and (b);

(3) fixtures means goods that become so related to particular real estate that an interest in them arises under real estate law;

(4) a lease is a purchase money lease unless the lessee has possession or use of the goods or the right to possession or use of the goods before the lease agreement is enforceable; and

(5) a mortgage is a construction mortgage to the extent that it secures an obligation incurred for the construction of an improvement on land including the acquisition cost of the land if the recorded writing indicates.
Alaska Stat. § 45.07.204 — AK Code / Title 45 / Chapter 45.07 / Section 45.07.204
Duty of care; contractual limitation of warehouse's liability.
Status: in_force

(a) A warehouse is liable for damages for loss of or injury to the goods caused by the warehouse's failure to exercise care with regard to the goods that a reasonably careful person would exercise under similar circumstances. Unless otherwise agreed, the warehouse is not liable for damages that could not have been avoided by the exercise of this care.

(b) Damages may be limited by a term in the warehouse receipt or storage agreement limiting the amount of liability in case of loss or damage beyond which the warehouse is not liable. The limitation is not effective with respect to the warehouse's liability for conversion to its own use. On request of the bailor in a record at the time of signing the storage agreement, or within a reasonable time after receipt of the warehouse receipt, the warehouse's liability may be increased on part or all of the goods covered by the storage agreement or the warehouse receipt. In this event, increased rates may be charged based on an increased valuation of the goods.

(c) Reasonable provisions as to the time and manner of presenting claims and commencing actions based on the bailment may be included in the warehouse receipt or storage agreement.
Alaska Stat. § 45.02.304 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.304
Price payable in money, goods, realty, or otherwise.
Status: in_force

(a) The price can be made payable in money or otherwise. If it is payable in whole or in part in goods, each party is a seller of the goods that the party is to transfer.

(b) Even though all or part of the price is payable in an interest in realty, the transfer of the goods and the seller's obligations with reference to them are subject to this chapter but not the transfer of the interest in realty or the transferor's obligations in connection with the transfer of the real interest.
Alaska Stat. § 45.45.560 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.560
Exemptions.
Status: in_force

The provisions of AS 45.45.500  45.45.590 do not apply to (1) a royalties contract between copyright owners, or performing rights societies, and (A) broadcasters licensed by the Federal Communications Commission; or

(B) a cable television operator, a cable television programmer, or another transmission service;

(2) an investigation by a law enforcement agency or other persons concerning a suspected violation of AS 45.50.900 (a)(2);

(3) contracts between copyright owners, or performing rights societies, and software publishers.
Alaska Stat. § 45.48.130 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.130
Access and actions during security freeze.
Status: in_force

(a) While a security freeze is in place, a consumer credit reporting agency shall allow a third party access to a consumer's credit report or credit score if the consumer requests that the consumer credit reporting agency allow the access.

(b) To make a request under (a) of this section, the consumer shall contact the consumer credit reporting agency by mail at the address designated by the consumer credit reporting agency to receive security freeze requests or as allowed by (c) of this section, authorize the consumer credit reporting agency to allow the access, and provide the consumer credit reporting agency with (1) proper identification to verify the consumer's identity;

(2) the unique personal identification number, password, or similar device provided under AS 45.48.120 (b); and

(3) the proper information necessary to identify the third party to whom the consumer credit reporting agency may allow the access or the time period during which the consumer credit reporting agency may allow the access to third parties who request the access.

(c) In addition to making the request by mail, a consumer may make a request under (a) of this section by telephone or by facsimile, the Internet, or other electronic media if the consumer credit reporting agency has developed procedures for using the telephone or an electronic medium to receive and process the request in an expedited manner.

(d) Except as provided by (e) of this section, a consumer credit reporting agency that receives a request from a consumer under (b) or (c) of this section shall comply with the request within 15 minutes after receiving the request by telephone or by an electronic medium or within three business days after receiving the request by mail.

(e) A consumer credit reporting agency is not required to comply with a request under (a) of this section within the 15 minutes required by (d) of this section if (1) the consumer fails to satisfy the requirements of (b) of this section;

(2) one of the following events prevents the consumer credit reporting agency from removing the security freeze within 15 minutes: (A) an act of God, including a fire, earthquake, hurricane, storm, or similar natural disaster or phenomenon;

(B) an unauthorized or illegal act by another person, including terrorism, sabotage, riot, vandalism, labor strike, labor dispute disrupting operations, or similar occurrence;

(C) an operational interruption, including an electrical failure, unanticipated delay in equipment or replacement part delivery, computer hardware or software failure inhibiting response time, or similar disruption;

(D) governmental action, including an emergency order or regulation, a judicial law enforcement action, or a similar directive;

(E) regularly scheduled maintenance during other than normal business hours of the consumer credit reporting agency's systems, or updates to the consumer credit reporting agency's systems;

(F) commercially reasonable maintenance of, or repair to, the consumer credit reporting agency's systems that is unexpected or unscheduled; or

(3) the request is received outside of normal business hours.

(f) If a security freeze is in place, a consumer credit reporting agency may not release the credit report or credit score to a third party without the prior express authorization of the consumer.

(g) If a security freeze is in place on a consumer's credit report and credit score and if a third party applies to a consumer credit reporting agency to provide the third party with access to the consumer's credit report or credit score, the consumer credit reporting agency and the third party may treat the third party's application as incomplete unless the consumer authorizes the access under (a) of this section.

(h) If a security freeze is in place, a consumer credit reporting agency may not change the consumer's official information in the consumer's credit report and credit score without sending a written statement of the change to the consumer within 30 days after the change is made. A consumer credit reporting agency is not required to send a written statement if the consumer credit reporting agency makes a technical change in the consumer's official information. If a consumer credit reporting agency makes a change, other than a technical change, in a consumer's address, the consumer credit reporting agency shall send the written statement to the consumer at both the new address and the former address. In this subsection, (1) official information means name, date of birth, social security number, and address;

(2) technical change means changing spelling, transposing numbers or letters, abbreviating a word, or spelling out an abbreviation.

(i) This section is not intended to prevent a consumer credit reporting agency from advising a third party that requests access to a consumer's credit report or credit score that a security freeze is in effect.

(j) The procedures used by a consumer credit reporting agency for implementing the provisions of this section may include the use of telephone, facsimile, or electronic means if making the disclosure by the electronic means is consistent with the provisions regarding electronic records and signatures required for notices legally required to be in writing under 15 U.S.C. 7001 et seq. (Electronic Signatures in Global and National Commerce Act).
Alaska Stat. § 45.01.212 — AK Code / Title 45 / Chapter 45.01 / Section 45.01.212
Notice; knowledge.
Status: in_force

(a) Subject to (f) of this section, a person has notice of a fact if the person (1) has actual knowledge of it;

(2) has received a notice or notification of it; or

(3) from all the facts and circumstances known to the person at the time in question, has reason to know that it exists.

(b) Knowledge means actual knowledge. Knows has a corresponding meaning.

(c) Discover, learn, or words of similar import refer to knowledge rather than to reason to know.

(d) A person notifies or gives a notice or notification to another person by taking those steps that may be reasonably required to inform the other person in ordinary course, whether or not the other person actually comes to know of it.

(e) Subject to (f) of this section, a person receives a notice or notification when it (1) comes to that person's attention; or

(2) is duly delivered in a form reasonable under the circumstances at the place of business through which the contract was made or at another location held out by that person as the place for receipt of that type of communication.

(f) Notice, knowledge, or a notice or notification received by an organization is effective for a particular transaction from the time it is brought to the attention of the individual conducting that transaction and, in any event, from the time it would have been brought to the individual's attention if the organization had exercised due diligence. An organization exercises due diligence if it maintains reasonable routines for communicating significant information to the person conducting the transaction and there is reasonable compliance with the routines. Due diligence does not require an individual acting for the organization to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.
Alaska Stat. § 45.08.201 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.201
Issuer.
Status: in_force

(a) With respect to obligations on or defenses to a security, issuer includes a person who (1) places or authorizes the placing of the person's name on a security certificate, other than as authenticating trustee, registrar, transfer agent, or the like, to evidence a share, participation, or other interest in the person's property or in an enterprise, or to evidence the person's duty to perform an obligation represented by the certificate;

(2) creates shares, participations, or other interests in that person's property or in an enterprise, or undertakes obligations, if the shares, participations, interests, or obligations are uncertificated securities;

(3) directly or indirectly creates fractional interests in the person's rights or property, if the fractional interests are represented by security certificates; or

(4) becomes responsible for, or in place of, another person described as an issuer in this section.

(b) With respect to obligations on or defenses to a security, a guarantor is an issuer to the extent of the guarantor's guarantee, whether or not the guarantor's obligation is noted on a security certificate.

(c) With respect to registration of a transfer, issuer means a person on whose behalf transfer books are maintained.
Alaska Stat. § 45.10.200 — AK Code / Title 45 / Chapter 45.10 / Section 45.10.200
Penalty for violation of order or injunction.
Status: in_force

A person who violates an order or injunction issued under this chapter is punishable by a fine of not more than $1,000, or by imprisonment for not more than six months, or by both.
Alaska Stat. § 45.45.750 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.750
Prohibited terms.
Status: in_force

(a) A distributor may not require a dealer to agree to any of the following terms in a distributorship agreement, or in another agreement that is ancillary to a distributorship agreement, as a condition of an offer, grant, or renewal of a distributorship agreement or ancillary agreement: (1) a requirement that the dealer waive a trial by jury in court cases involving the distributor;

(2) a requirement that disputes between the distributor and the dealer be submitted to arbitration or to any other binding alternate dispute resolution procedure, except authorization for the submission of a dispute to arbitration or to binding alternative dispute resolution if the distributor and dealer voluntarily agree to submit the dispute to arbitration or binding alternative dispute resolution when the dispute arises;

(3) a requirement that the dealer pay the attorney fees of the distributor;

(4) a requirement that prohibits a firearms dealer from selling firearms or related accessories, the sale of which is otherwise legal, but which the firearms distributor does not manufacture or distribute; or

(5) a requirement that the agreement be subject to the laws of a state other than Alaska.

(b) The provisions of (a) of this section do not apply to an agreement where a lease or sale of real property is the main purpose of the agreement.
Alaska Stat. § 45.29.335 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.335
Accessions.
Status: in_force

(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 when the collateral becomes an accession, the security interest remains perfected in the collateral.

(c) Except as otherwise provided in (d) of this section, the other provisions of AS 45.29.301  45.29.342 determine the priority of a security interest in an accession.

(d) A security interest in an accession is subordinate to a security interest in the whole that is perfected by compliance with the requirements of a certificate of title statute under AS 45.29.311 (b).

(e) After default, subject to AS 45.29.601  45.29.628, a secured party may remove an accession from other goods if the security interest in the accession has priority over the claims of every person having an interest in the whole.

(f) A secured party that removes an accession from other goods under (e) of this section shall promptly reimburse any holder of a security interest or other lien on, or owner of, the whole or of the other goods, other than the debtor, for the cost of repair of a physical injury to the whole or the other goods. The secured party need not reimburse the holder or owner for any diminution in value of the whole or the other goods caused by the absence of the accession removed or by any necessity for replacing it. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
Alaska Stat. § 45.56.740 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.740
Judicial review.
Status: in_force

(a) A person may obtain judicial review by the superior court of a final order issued by the administrator under this chapter by filing a notice of appeal in accordance with the applicable rules of court governing appeals in civil matters. The notice of appeal shall be filed within 30 days after the order becomes final under AS 44.64.060 .

(b) A regulation adopted under this chapter is subject to judicial review under AS 44.62.300 .
Alaska Stat. § 45.08.209 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.209
Issuer's lien.
Status: in_force

A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.
Alaska Stat. § 45.35.099 — AK Code / Title 45 / Chapter 45.35 / Section 45.35.099
Definitions.
Status: in_force

In this chapter, (1) advertisement means a commercial message in a communications medium that directly or indirectly promotes entering into a lease-purchase agreement or provides information about a lease-purchase agreement, but does not include a price tag, window sign, or other merchandising aid used on the physical premises of a store;

(2) cash price means the price, calculated as of the date a lease-purchase agreement is entered into, at which the lessor would sell to a person the personal property that is the subject of the lease-purchase agreement;

(3) consumer means an individual who leases personal property under a lease-purchase agreement;

(4) lease-purchase agreement (A) means an agreement for the use of personal property primarily for personal, family, or household purposes if the agreement is for an initial period of four months or less, is automatically renewable with each payment after the initial period, does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and permits the consumer to become the owner of the property;

(B) does not include (i) an agreement primarily for commercial or agricultural purposes;

(ii) a lease or bailment of personal property if the lease or bailment is incidental to the lease of real property and provides that the consumer does not have an option to purchase the leased personal property;

(iii) a lease of a motor vehicle;

(iv) a security interest as defined under AS 45.01.211 ;

(v) a retail installment transaction under AS 45.10 ;

(vi) a lease under AS 45.12 ;

(5) lessor means a person who, in the ordinary course of business, regularly provides to consumers the use of property through lease-purchase agreements and to whom payments are initially payable on the face of the lease-purchase agreement.
Alaska Stat. § 45.57.090 — AK Code / Title 45 / Chapter 45.57 / Section 45.57.090
Consent to service of process.
Status: in_force

A nonresident offeror, except a foreign corporation which has complied with AS 10.06.705  10.06.788, who makes a takeover bid affecting an offeree company is considered to have appointed the commissioner of commerce, community, and economic development as the offeror's agent upon whom may be served, in any matter arising under this chapter, any process, notice, order, or demand except one issued by the department. Service may be made on the commissioner or any of the commissioner's staff at the commissioner's office. The commissioner shall send it by registered or certified mail addressed to the offeror at the latest address on file and keep a record of it. A process, notice, order, or demand issued by the department shall be served by being mailed by the commissioner or any of the commissioner's staff by registered or certified mail addressed to the offeror at the latest address on file.
Alaska Stat. § 45.29.524 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.524
Delay by filing office.
Status: in_force

Delay by the filing office beyond a time limit prescribed by AS 45.29.501  45.29.525 is excused if (1) the delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and

(2) the filing office exercises reasonable diligence under the circumstances.
Alaska Stat. § 45.04.303 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.303
When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified.
Status: in_force

(a) Any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank is too late to terminate, suspend, or modify the bank's right or duty to pay an item or to charge its customer's account for the item if the knowledge, notice, stop-payment order, or legal process is received or served and a reasonable time for the bank to act on it expires or the setoff is exercised after the earliest of the following: (1) the bank accepts or certifies the item;

(2) the bank pays the item in cash;

(3) the bank settles for the item without having a right to revoke the settlement under statute, clearinghouse rule, or agreement;

(4) the bank becomes accountable for the amount of the item under AS 45.04.302 , which deals with the payor bank's responsibility for late return of items; or

(5) with respect to checks, a cutoff hour no earlier than one hour after the opening of the next banking day after the banking day on which the bank received the check and no later than the close of that next banking day or, if a cutoff hour is not fixed, the close of the next banking day after the banking day on which the bank received the check.

(b) Subject to (a) of this section, items may be accepted, paid, certified, or charged to the indicated account of its customer in any order.

Article 4. Relationship Between Payor Bank and Its Customer.
Alaska Stat. § 45.08.116 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.116
Securities intermediary as purchaser for value.
Status: in_force

A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the security entitlement for value if the securities intermediary acquiring the security entitlement establishes a security entitlement to the financial asset in favor of an entitlement holder.
Alaska Stat. § 45.01.118 — AK Code / Title 45 / Chapter 45.01 / Section 45.01.118
Relation to Electronic Signatures in Global and National Commerce Act.
Status: in_force

The code modifies, limits, and supersedes 15 U.S.C. 7001  7031 (Electronic Signatures in Global and National Commerce Act) but does not modify, limit, or supersede 15 U.S.C. 7001(c) or authorize electronic delivery of a notice described in 15 U.S.C. 7003(b).
Alaska Stat. § 45.48.020 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.020
Allowable delay in notification.
Status: in_force

An information collector may delay disclosing the breach under AS 45.48.010 if an appropriate law enforcement agency determines that disclosing the breach will interfere with a criminal investigation. However, the information collector shall disclose the breach to the state resident in the most expeditious time possible and without unreasonable delay after the law enforcement agency informs the information collector in writing that disclosure of the breach will no longer interfere with the investigation.
Alaska Stat. § 45.05.105 — AK Code / Title 45 / Chapter 45.05 / Section 45.05.105
Consideration.
Status: in_force

Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
Alaska Stat. § 45.02.514 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.514
When documents deliverable on acceptance; when on payment.
Status: in_force

Unless otherwise agreed, documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three days after presentment; otherwise, only on payment.
Alaska Stat. § 45.02.104 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.104
Definitions: merchant; between merchants; financing agency.
Status: in_force

(a) Merchant means a person who deals in goods of the kind or otherwise by occupation holds oneself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom this knowledge or skill may be attributed by the person's employment of an agent or broker or other intermediary who by occupation holds oneself out as having this knowledge or skill.

(b) Financing agency means a bank, finance company, or other person who, in the ordinary course of business, makes advances against goods or documents of title or who, by arrangement with either the seller or the buyer, intervenes in ordinary course to make or collect payment due or claimed under the contract for sale, as by purchasing or paying the seller's draft or making advances against it or by merely taking it for collection whether or not documents of title accompany or are associated with the draft. Financing agency includes also a bank or other person who similarly intervenes between persons who are in the position of seller and buyer in respect to the goods ( AS 45.02.707 ).

(c) Between merchants means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants.
Alaska Stat. § 45.65.030 — AK Code / Title 45 / Chapter 45.65 / Section 45.65.030
Design of identification seals and emblems.
Status: reserved

(a) The official symbol for the identification seal is the silver hand symbol. It must bear the words: Authentic Alaska Native Art from Alaska and include space for the artist's name and the place of origin of the article.

(b) [Repealed, § 5 ch 104 SLA 1992.] (c) The official emblem for an article that is made in the state is a design approved by the commissioner under AS 45.65.020 (a)(2) that depicts a mother bear with a cub and states the words Made in Alaska.
Alaska Stat. § 45.56.330 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.330
Agent registration requirement and exemptions.
Status: in_force

(a) An individual may not transact business in this state as an agent unless the individual is registered under this chapter as an agent or is exempt from registration as an agent under (b) of this section.

(b) The following individuals are exempt from the registration requirement of (a) of this section: (1) an individual who represents a broker-dealer in effecting transactions in this state limited to those described in 15 U.S.C. 78o(i);

(2) an individual who represents a broker-dealer that is exempt under AS 45.56.300 (b) or 45.56.310;

(3) an individual who represents an issuer with respect to an offer or sale of the issuer's own securities or those of the issuer's parent or any of the issuer's subsidiaries and who is not compensated in connection with the individual's participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;

(4) an individual who represents an issuer and who effects transactions in the issuer's securities exempted by AS 45.56.120 , other than AS 45.56.120 (11) and (14);

(5) an individual who represents an issuer that effects transactions solely in federal covered securities of the issuer, but an individual who effects transactions in a federal covered security under 15 U.S.C. 77r(b)(3) or (b)(4)(D) (Securities Act of 1933) is not exempt if the individual is compensated in connection with the agent's participation by the payment of commissions or other remuneration based, directly or indirectly, on transactions in those securities;

(6) an individual who represents a broker-dealer registered in this state under AS 45.56.300 (a) or exempt from registration under AS 45.56.300 (b) in the offer and sale of securities for an account of a nonaffiliated federal covered investment adviser with investments under management in excess of $100,000,000 acting for the account of others under discretionary authority in a signed record;

(7) an individual who represents an issuer in connection with the purchase of the issuer's own securities;

(8) an individual who represents an issuer and who restricts participation to performing clerical or ministerial acts; or

(9) any other individual exempted by a regulation adopted or order issued under this chapter.

(c) The registration of an agent is effective only while the agent is employed by or associated with a broker-dealer registered under this chapter or an issuer that is offering, selling, or purchasing the issuer's securities in this state.

(d) A broker-dealer or an issuer engaged in offering, selling, or purchasing securities in this state may not employ or associate with an agent who transacts business in this state on behalf of broker-dealers or issuers unless the agent is registered under (a) of this section or exempt from registration under (b) of this section.

(e) An individual may not act as an agent for more than one broker-dealer or one issuer at a time, unless the broker-dealer or the issuer for which the agent acts is affiliated by direct or indirect common control or is authorized by a regulation or order issued under this chapter.
Alaska Stat. § 45.01.111 — AK Code / Title 45 / Chapter 45.01 / Section 45.01.111
Short titles.
Status: in_force

(a) AS 45.01  AS 45.08 , AS 45.12 , AS 45.14 , and AS 45.29 may be cited as the Uniform Commercial Code.

(b) This chapter may be cited as the Uniform Commercial Code  General Provisions.
Alaska Stat. § 45.12.214 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.214
Exclusion or modification of warranties.
Status: in_force

(a) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty shall be construed wherever reasonable as consistent with each other; but, subject to the provisions of AS 45.12.202 on parol or extrinsic evidence, negation or limitation is inoperative to the extent that the construction is unreasonable.

(b) Subject to (c) of this section, to exclude or modify the implied warranty of merchantability or a part of it the language must mention merchantability, be by a writing, and be conspicuous. Subject to (c) of this section, to exclude or modify an implied warranty of fitness the exclusion must be by a writing and be conspicuous. Language to exclude all implied warranties of fitness is sufficient if it is in writing, is conspicuous, and states, for example, There is no warranty that the goods will be fit for a particular purpose.

(c) Notwithstanding (b) of this section, but subject to (d) of this section, (1) unless the circumstances indicate otherwise, all implied warranties are excluded by expressions like as is, or with all fault, or by other language that in common understanding calls the lessee's attention to the exclusion of warranties and makes plain that there is no implied warranty, if in writing and conspicuous;

(2) if the lessee before entering into the lease contract has examined the goods or the sample or model as fully as desired or has refused to examine the goods, there is no implied warranty with regard to defects that an examination ought in the circumstances to have revealed; and

(3) an implied warranty may also be excluded or modified by course of dealing, course of performance, or usage of trade.

(d) To exclude or modify a warranty against interference or against infringement described in AS 45.12.211 or a part of the warranty, the language must be specific, be by a writing, and be conspicuous, unless the circumstances, including course of performance, course of dealing, or usage of trade, give the lessee reason to know that the goods are being leased subject to a claim or interest of any person.
Alaska Stat. § 45.50.810 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.810
Violations.
Status: in_force

(a) A person may not, directly or indirectly, through officers, employees, or agents, (1) require the dealer at the time of entering into the lease agreement to relieve any person from liability imposed by AS 45.50.800  45.50.850;

(2) require the dealer to agree to waive the right to a jury trial or any right of counterclaim the dealer may have;

(3) restrict or inhibit directly or indirectly the right of free association for any lawful purpose of the dealer;

(4) except as to the initial inventory, require a dealer to purchase or otherwise lease goods or services of a refiner or distributor or from an approved source of supply unless and to the extent that the refiner or distributor satisfies the burden of proving that such restricted purchasing agreements are reasonably necessary for lawful purposes justified on business grounds and do not substantially affect competition; in determining whether a requirement to purchase is lawful, the court shall be guided by the decisions of the courts of the United States in interpreting and applying the antitrust laws and the Federal Trade Commission Act of the United States;

(5) impose unreasonable standards of performance on the dealer;

(6) require a dealer to participate financially in the use of any premium coupon or giveaway or rebate in the operation of the business; however, a distributor may require the dealer to distribute premiums, coupons, or giveaways to customers that are provided to the dealer at the expense of the refiner or distributor or when the promotion is self-liquidating;

(7) fail to deal with the dealer in good faith;

(8) require the dealer to keep the retail outlet open for business more than 12 consecutive hours a day or more than six days a week; however, this paragraph may not be construed to prevent a retail outlet from being open when required to be open to conform to a state or federal law or regulation; or

(9) require a dealer to purchase or rent a product or service for more than a fair and reasonable price.

(b) A refiner or distributor may not, directly or indirectly, through any officer, agent, or employee, terminate, cancel, or fail to renew a dealer lease without first giving written notice setting out all of the reasons for the termination or cancellation, or intent not to renew to the dealer at least 45 days in advance of the termination, cancellation, or failure to renew except when (1) the alleged grounds are voluntary abandonment by the dealer of the lessee relationship, the above notice may be given five days in advance of the termination, cancellation, or failure to renew;

(2) the alleged grounds are the conviction of the dealer in a court of competent jurisdiction of a felony;

(3) the lease specifically establishes a period of notice of less than 45 days in which either party may terminate the lease.

(c) Except as provided in (d) of this section, a refiner or distributor may not terminate, cancel, or fail to renew a dealer lease without good cause. Good cause includes (1) the failure of a dealer to comply with the lawful material provisions of a lease between the distributor or refiner and the dealer and to cure each default after being given written notice and a reasonable opportunity to cure the default;

(2) an adjudication that the dealer is a bankrupt or insolvent or if the dealer makes an assignment for the benefit of creditors or a similar disposition of assets of franchise business or voluntarily abandons the business or is convicted of or pleads guilty or no contest to a charge of violating any law relating to any business;

(3) the good faith business decision of the lessor that the lessor no longer requires a retail outlet at that location for the marketing of gasoline; and

(4) the dealer's failure to sign the new agreement if at the time of renewal of the lease the distributor or refiner and the dealer cannot agree upon new terms and the terms offered by the refiner or distributor do not violate any other laws of the state or of the United States and the terms are essentially the same as those offered to other dealers in similar retail outlets and do not discriminate against the subject dealer.

(d) A refiner or distributor may provide in the lease for its termination without cause during a reasonable trial period, not to exceed one year, if the dealer involved has not already been a dealer of a refiner or distributor for that period of time.

(e) A refiner or distributor may not engage in price discrimination between dealers if the effect of the discrimination may be substantially to lessen competition unless that discrimination is based upon quantity purchased or transportation costs or capital investment of the dealer. Nothing in this section prevents a refiner or distributor from offering a lower price or furnishing a service or facility to a dealer when the offer is made in good faith to meet an equally low price of a competitor, or the services or facilities furnished by that competitor.
Alaska Stat. § 45.08.505 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.505
Duty of securities intermediary with respect to payments and distributions.
Status: in_force

(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if (1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.

(b) A securities intermediary is obligated to the securities intermediary's entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.
Alaska Stat. § 45.12.102 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.102
Scope.
Status: in_force

This chapter applies to any transaction, regardless of form, that creates a lease.
Alaska Stat. § 45.03.303 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.303
Value and consideration.
Status: in_force

(a) An instrument is issued or transferred for value if (1) the instrument is issued or transferred for a promise of performance, to the extent the promise has been performed;

(2) the transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding;

(3) the instrument is issued or transferred as payment of, or as security for, an antecedent claim against a person, whether or not the claim is due;

(4) the instrument is issued or transferred in exchange for a negotiable instrument; or

(5) the instrument is issued or transferred in exchange for the incurring of an irrevocable obligation to a third party by the person taking the instrument.

(b) Consideration means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without consideration. If an instrument is issued for a promise of performance, the issuer has a defense to the extent performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in (a) of this section, the instrument is also issued for consideration.
Alaska Stat. § 45.50.601 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.601
Content of regulations.
Status: in_force

Regulations adopted by the state director of civil defense must prohibit the following practices: (1) exaggerated or misleading claims of protection afforded by shelters;

(2) the use of misleading pictures;

(3) the use of deceptive pricing practices;

(4) the use of guarantees in such a manner as to constitute a misrepresentation;

(5) representations of endorsement by a governmental agency; and

(6) any unfair or deceptive practice.
Alaska Stat. § 45.29.705 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.705
Effectiveness of action taken before July 1, 2001.
Status: in_force

(a) If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person who becomes a lien creditor had the security interest become enforceable before July 1, 2001, the action is effective to perfect a security interest that attaches under this chapter before July 1, 2002. An attached security interest becomes unperfected on July 1, 2002, unless the security interest becomes a perfected security interest under this chapter before July 1, 2002.

(b) The filing of a financing statement before July 1, 2001, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this chapter.

(c) This chapter does not render ineffective an effective financing statement that, before July 1, 2001, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former AS 45.09.103 . However, except as otherwise provided in (d) and (e) of this section and AS 45.29.706 , the financing statement ceases to be effective at the earlier of (1) the time the financing statement would have ceased to be effective under the law of the jurisdiction in which it is filed; or

(2) June 30, 2006.

(d) The filing of a continuation statement on or after July 1, 2001, does not continue the effectiveness of the financing statement filed before July 1, 2001. However, upon the timely filing of a continuation statement on or after July 1, 2001, and in accordance with the law of the jurisdiction governing perfection as provided in AS 45.29.301  45.29.342, the effectiveness of a financing statement filed in the same office in that jurisdiction before July 1, 2001, continues for the period provided by the law of that jurisdiction.

(e) The provisions of (c)(2) of this section apply to a financing statement that, before July 1, 2001, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former AS 45.09.103 only to the extent that AS 45.29.301  45.29.342 provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.

(f) A financing statement that includes a financing statement filed before July 1, 2001, and a continuation statement filed on or after July 1, 2001, is effective only to the extent that it satisfies the requirements of AS 45.29.501  45.29.525 for an initial financing statement.
Alaska Stat. § 45.02.308 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.308
Absence of specified place for delivery.
Status: in_force

Unless otherwise agreed (1) the place for delivery of goods is the seller's place of business or if the seller has none the seller's residence; but

(2) in a contract for sale of identified goods that to the knowledge of the parties at the time of contracting are in some other place, that place is the place for their delivery; and

(3) documents of title may be delivered through customary banking channels.
Alaska Stat. § 45.48.520 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.520
Due diligence.
Status: in_force

In AS 45.48.510 (3), due diligence ordinarily includes performing one or more of the following: (1) reviewing an independent audit of the third party's operations and its compliance with AS 45.48.500  45.48.590;

(2) obtaining information about the third party from several references or other reliable sources and requiring that the third party be certified by a recognized trade association or similar organization with a reputation for high standards of quality review; or

(3) reviewing and evaluating the third party's information security policies and procedures, or taking other appropriate measures to determine the competency and integrity of the third party.
Alaska Stat. § 45.08.507 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.507
Duty of securities intermediary to comply with entitlement order.
Status: in_force

(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securities intermediary has had reasonable opportunity to comply with the entitlement order. A securities intermediary satisfies the duty if (1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order.

(b) If a securities intermediary transfers a financial asset under an ineffective entitlement order, the securities intermediary shall reestablish a security entitlement in favor of the person entitled to the entitlement order, and pay or credit payments or distributions that the person did not receive as a result of the wrongful transfer. If the securities intermediary does not reestablish a security entitlement, the securities intermediary is liable to the entitlement holder for damages.
Alaska Stat. § 45.14.104 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.104
Funds transfer; definitions.
Status: in_force

In this chapter, (1) funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order; the term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order; a funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order;

(2) intermediary bank means a receiving bank other than the originator's bank or the beneficiary's bank;

(3) originator means the sender of the first payment order in a funds transfer;

(4) originator's bank means (A) the receiving bank to which the payment order of the originator is issued if the originator is not a bank; or

(B) the originator if the originator is a bank.
Alaska Stat. § 45.75.350 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.350
Validity of prosecutions.
Status: in_force

Prosecutions for violation of this chapter are valid and proper notwithstanding the existence of another valid general or specific law of this state dealing with matters that may be the same as or similar to those covered by this chapter.
Alaska Stat. § 45.63.070 — AK Code / Title 45 / Chapter 45.63 / Section 45.63.070
Remedies not exclusive.
Status: in_force

The remedies in this chapter are in addition to other remedies available to a buyer or the department.
Alaska Stat. § 45.56.900 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.900
Definitions.
Status: in_force

In this chapter, unless the context otherwise requires, (1) administrator means the commissioner of commerce, community, and economic development or a designee of the commissioner;

(2) agent means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities; however, a partner, officer, or director of a broker-dealer or issuer, or an individual having a similar status or performing similar functions is an agent only if the individual otherwise comes within the term; agent does not include an individual excluded by a regulation adopted or order issued under this chapter;

(3) bank means (A) a banking institution organized under the laws of the United States;

(B) a member bank of the Federal Reserve System;

(C) any other banking institution, whether incorporated or not, doing business under the laws of a state or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to be exercised by national banks under the authority of the United States Comptroller of the Currency under 12 U.S.C. 92a, that is supervised and examined by a state or federal agency having supervision over banks, and that is not operated for the purpose of evading this chapter; and

(D) a receiver, conservator, or other liquidating agent of any institution or firm included in (A), (B), or (C) of this paragraph;

(4) broker-dealer means a person engaged in the business of effecting transactions in securities for the accounts of others or for the person's own account; broker-dealer does not include (A) an agent;

(B) an issuer;

(C) a bank, trust company organized or chartered under the laws of this state, or savings institution if its activities as a broker-dealer are limited to those specified in 15 U.S.C. 78c(a)(4)(B)(i)  (vi), (viii)  (x), and (xi) if limited to unsolicited transactions, or 15 U.S.C. 78c(a)(5)(B) and (C), or a bank that satisfies the conditions described in 15 U.S.C. 78c(a)(4);

(D) an international banking institution; or

(E) a person excluded by a regulation adopted or order issued under this chapter;

(5) defraud includes engaging in common law deceit;

(6) department means the Department of Commerce, Community, and Economic Development;

(7) depository institution means (A) a bank; or

(B) a savings institution, trust company, credit union, or similar institution that is organized or chartered under the laws of a state or of the United States, authorized to receive deposits and supervised and examined by an official or agency of a state or the United States if its deposits or share accounts are insured to the maximum amount authorized by statute by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund, or a successor authorized by federal law; depository institution does not include (i) an insurance company or other organization primarily engaged in the business of insurance;

(ii) a Morris Plan bank; or

(iii) an industrial loan company that is not an insured depository institution as defined in 12 U.S.C. 1813(c)(2) (Federal Deposit Insurance Act), or any successor federal statute;

(8) federal covered investment adviser means a person registered under 15 U.S.C. 80b-1  80b-21 (Investment Advisers Act of 1940);

(9) federal covered security means a security that is, or upon completion of a transaction will be, a covered security under 15 U.S.C. 77r(b) (Securities Act of 1933) or rules or regulations adopted under that provision;

(10) filing means the receipt under this chapter of a record by the administrator or a designee of the administrator;

(11) former AS 45.55  means AS 45.55 as the provisions under that chapter read on the December 31, 2018;

(12) fraud and deceit include common law deceit;

(13) guaranteed means guaranteed as to payment of all principal and all interest;

(14) institutional investor means any of the following, whether acting for itself or for others in a fiduciary capacity: (A) a depository institution, a trust company organized or chartered under the laws of this state, or an international banking institution;

(B) an insurance company;

(C) a separate account of an insurance company;

(D) an investment company as defined in 15 U.S.C. 80a-1  80a-64 (Investment Company Act of 1940);

(E) a broker-dealer registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934);

(F) an employee pension, profit-sharing, or benefit plan if the plan has total assets in excess of $10,000,000 or its investment decisions are made by a named fiduciary, as defined in 29 U.S.C. 1102(a)(2) (Employee Retirement Income Security Act of 1974), that is a broker-dealer registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), an investment adviser registered or exempt from registration under 15 U.S.C. 80b-1  80b-21 (Investment Advisers Act of 1940), an investment adviser registered under this chapter, a depository institution, or an insurance company;

(G) a plan established and maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or a political subdivision of a state for the benefit of its employees if the plan has total assets in excess of $10,000,000 or its investment decisions are made by a legally designated public official or by a named fiduciary, as defined in 29 U.S.C. 1102(a)(2) (Employee Retirement Income Security Act of 1974), that is a broker-dealer registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), an investment adviser registered or exempt from registration under 15 U.S.C. 80b-1  80b-21 (Investment Advisers Act of 1940), an investment adviser registered under this chapter, a depository institution, or an insurance company;

(H) a trust if that trust has total assets in excess of $10,000,000, the trustee of the trust is a depository institution, and the participants in the trust are exclusively plans of the types identified in (F) or (G) of this paragraph, regardless of the size of their assets, except a trust that includes as participants self-directed individual retirement accounts or similar self-directed plans;

(I) an organization described in 26 U.S.C. 501(c)(3) (Internal Revenue Code), corporation, Massachusetts trust or similar business trust, limited liability company, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $10,000,000;

(J) a small business investment company licensed by the United States Small Business Administration under 15 U.S.C. 681(c) (Small Business Investment Act of 1958) with total assets in excess of $10,000,000;

(K) a private business development company as defined in 15 U.S.C. 80b-2(a)(22) (Investment Advisers Act of 1940) with total assets in excess of $10,000,000;

(L) a federal covered investment adviser acting for its own account;

(M) a qualified institutional buyer, as defined in 17 C.F.R. 230.144A, other than 17 C.F.R. 230.144A(a)(1)(i)(H), adopted under 15 U.S.C. 77a  77aa (Securities Act of 1933);

(N) a major United States institutional investor, as defined in 17 C.F.R. 240.15a-6(b)(4)(i), adopted under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934);

(O) any other person, other than an individual, of institutional character with total assets in excess of $10,000,000 not organized for the specific purpose of evading this chapter; or

(P) any other person specified by regulation adopted or order issued under this chapter;

(15) insurance company means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and that is subject to supervision by the insurance commissioner or a similar official or agency of a state;

(16) insured means insured as to payment of all principal and all interest;

(17) international banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under 15 U.S.C. 77a  77aa (Securities Act of 1933);

(18) investment adviser means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or produces analyses or reports concerning securities; investment adviser includes a financial planner or other person that, as an integral component of other financially related services, provides investment advice to others for compensation as part of a business or that holds itself out as providing investment advice to others for compensation; investment adviser does not include (A) an investment adviser representative;

(B) a lawyer, accountant, engineer, or teacher whose performance of investment advice is solely incidental to the practice of the person's profession;

(C) a broker-dealer or its agents whose performance of investment advice is solely incidental to the conduct of business as a broker-dealer and that does not receive special compensation for the investment advice;

(D) a publisher of a bona fide newspaper, news magazine, or business or financial publication of general and regular circulation;

(E) a federal covered investment adviser;

(F) a bank, a trust company organized or chartered under the laws of this state, or a savings institution;

(G) any other person that is excluded by 15 U.S.C. 80b-1  80b- 21 (Investment Advisers Act of 1940) from the definition of investment adviser; or

(H) any other person excluded by a regulation adopted or order issued under this chapter;

(19) investment adviser representative means an individual employed by or associated with an investment adviser or federal covered investment adviser and who makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or offers to provide investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing; investment adviser representative does not include an individual who (A) performs only clerical or ministerial acts;

(B) is an agent whose performance of investment advice is solely incidental to the individual's acting as an agent and who does not receive special compensation for investment advisory services;

(C) is employed by or associated with a federal covered investment adviser, unless the individual has a place of business in this state, as that term is defined by rule adopted under 15 U.S.C. 80b-3a (Investment Advisers Act of 1940) and is (i) an investment adviser representative, as that term is defined by rule adopted under 15 U.S.C. 80b-3a (Investment Advisers Act of 1940); or

(ii) not a supervised person, as that term is defined in 15 U.S.C. 80b-2(a)(25) (Investment Advisers Act of 1940); or

(D) is excluded by a regulation adopted or order issued under this chapter;

(20) issuer means a person that issues or proposes to issue a security, subject to the following: (A) the issuer of a voting trust certificate, collateral trust certificate, certificate of deposit for a security, or share in an investment company without a board of directors or individuals performing similar functions is the person performing the acts and assuming the duties of depositor or manager under the trust or other agreement or instrument under which the security is issued;

(B) the issuer of an equipment trust certificate or similar security serving the same purpose is the person by which the property is or will be used or to which the property or equipment is or will be leased or conditionally sold or that is otherwise contractually responsible for ensuring payment of the certificate;

(C) the issuer of a fractional undivided interest in an oil, gas, or other mineral lease or in payments out of production under a lease, right, or royalty is the owner of an interest in the lease or in payments out of production under a lease, right, or royalty, whether whole or fractional, that creates fractional interests for the purpose of sale;

(21) nonissuer transaction or nonissuer distribution means a transaction or distribution not directly or indirectly for the benefit of the issuer;

(22) offer to purchase includes an attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value; offer to purchase does not include a tender offer that is subject to 15 U.S.C. 78n(d) (Securities Exchange Act of 1934);

(23) older person means a natural person who is 60 years of age or older;

(24) person means an individual, a corporation, a partnership, a limited liability company, a limited partnership, a limited liability partnership, an association, a joint-stock company, a trust in which the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government;

(25) place of business of a broker-dealer, an investment adviser, or a federal covered investment adviser means (A) an office at which the broker-dealer, investment adviser, or federal covered investment adviser regularly provides brokerage or investment advice or solicits, meets with, or otherwise communicates with customers or clients; or

(B) any other location that is held out to the general public as a location at which the broker-dealer, investment adviser, or federal covered investment adviser provides brokerage or investment advice or solicits, meets with, or otherwise communicates with customers or clients;

(26) price amendment means the amendment to a registration statement filed under 15 U.S.C. 77a  77aa (Securities Act of 1933) or, if an amendment is not filed, the prospectus or prospectus supplement filed under 15 U.S.C. 77a  77aa (Securities Act of 1933) that includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent on the offering price;

(27) principal place of business of a broker-dealer or an investment adviser means the executive office of the broker-dealer or investment adviser from which the officers, partners, or managers of the broker-dealer or investment adviser direct, control, and coordinate the activities of the broker-dealer or investment adviser;

(28) record, except in the phrases of record, official record, and public record, means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;

(29) sale includes every contract of sale, contract to sell, or disposition of a security or interest in a security for value, and offer to sell includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value; both terms include (A) a security given or delivered with, or as a bonus because of, a purchase of securities or any other thing constituting part of the subject of the purchase and having been offered and sold for value;

(B) a gift of assessable stock involving an offer and sale; and

(C) a sale or offer of a warrant or right to purchase or subscribe to another security of the same or another issuer and a sale or offer of a security that gives the holder a present or future right or privilege to convert the security into another security of the same or another issuer, including an offer of the other security;

(30) Securities and Exchange Commission means the United States Securities and Exchange Commission;

(31) securities business means a business that provides the services provided by (A) investment advisers, federal covered investment advisers, or investment adviser representatives; or

(B) broker-dealers, issuers, or agents of broker-dealers or issuers;

(32) security means a note; stock; treasury stock; security future; bond; debenture; evidence of indebtedness; certificate of interest or participation in a profit-sharing agreement; collateral trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting trust certificate; certificate of deposit for a security; viatical settlement; fractional undivided interest in oil, gas, or other mineral rights; put, call, straddle, option, or privilege on a security, certificate of deposit, or group or index of securities, including an interest in or based on the value of a put, call, straddle, option, or privilege on a security, certificate of deposit, or group or index of securities; put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; or, in general, an interest or instrument commonly known as a security; or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing; security (A) includes (i) both a certificated and an uncertificated security;

(ii) an investment in a common enterprise with the expectation of profits to be derived primarily from the efforts of a person other than the investor; in this sub-subparagraph, common enterprise means an enterprise in which the fortunes of the investor are interwoven with those of the person offering the investment, a third party, or other investors;

(iii) as an investment contract, among other contracts, an interest in a limited partnership and a limited liability company, and an investment in a viatical settlement or similar agreement; and

(iv) a viatical settlement interest;

(B) does not include (i) a participation agreement entered under AS 14.40.802 or an insurance or endowment policy subject to AS 21 ;

(ii) an interest in a contributory or noncontributory pension or welfare plan subject to 29 U.S.C. 1001  1461 (Employee Retirement Income Security Act of 1974);

(33) self-regulatory organization means a national securities exchange registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), a national securities association of broker-dealers registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), a clearing agency registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), or the Municipal Securities Rulemaking Board established under 15 U.S.C. 78o-4 (Securities Exchange Act of 1934);

(34) sign means, with present intent to authenticate or adopt a record, (A) to execute or adopt a tangible symbol; or

(B) to attach or logically associate with the record an electronic symbol, sound, or process;

(35) state means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States;

(36) vulnerable adult has the meaning given in AS 47.24.900 .
Alaska Stat. § 45.27.020 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.020
Cancellation or nonrenewal of agreement.
Status: in_force

(a) A manufacturer may not cancel or decline to renew a dealership agreement with an authorized dealer unless (1) the manufacturer has (A) satisfied the notice requirements of this chapter; and

(B) shown that there is good cause for the cancellation or nonrenewal of the dealership agreement, and, if the reasons underlying the good cause can be corrected by the authorized dealer, the authorized dealer has failed for 60 days after delivery of the notice required by AS 45.27.030 to make the corrections; the circumstances identified under AS 45.27.030 (a)(2), for which a 15-day notice of cancellation or nonrenewal is required, do not qualify as reasons for which correction is allowed under this paragraph; or

(2) the authorized dealer has engaged in fraud (A) against consumers or the manufacturer; or

(B) in the operation of the authorized dealer's dealership.

(b) Under (a)(1)(B) of this section, an authorized dealer may not prevent a cancellation or nonrenewal of a dealership agreement more than two times by making corrections.

(c) Notwithstanding (a)(1) of this section, a manufacturer may not cancel or decline to renew a dealership agreement with an authorized dealer because of the death or incapacity of an owner if the owner is not listed in the agreement as one on whose expertise and abilities the manufacturer relied in the granting of the agreement.

(d) In this section, good cause includes circumstances in which the authorized dealer fails to comply with or observe a material provision of the dealership agreement with the authorized dealer. For the purpose of determining good cause under this subsection, reasonable sales and service performance criteria and capital and facility requirements may be considered material provisions only if the criteria or requirements were communicated in writing to the authorized dealer within a reasonable period of not less than six months before the effective date of the cancellation or nonrenewal, to afford the authorized dealer a reasonable opportunity to comply with the criteria or requirements.
Alaska Stat. § 45.29.508 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.508
Effectiveness of financing statement if new debtor becomes bound by security agreement.
Status: in_force

(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.

(b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under (a) of this section to be seriously misleading under AS 45.29.506 , the financing statement is (1) effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under AS 45.29.203 (d); and

(2) not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under AS 45.29.203 (d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.

(c) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under AS 45.29.507 (a).
Alaska Stat. § 45.04.209 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.209
Encoding and retention warranties.
Status: in_force

(a) A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty.

(b) A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.

(c) A person to whom warranties are made under this section and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, plus expenses and loss of interest incurred as a result of the breach.
Alaska Stat. § 45.56.690 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.690
Administrative enforcement.
Status: in_force

(a) If the administrator determines that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this chapter or a regulation adopted or order issued under this chapter or that a person has materially aided, is materially aiding, or is about to aid materially an act, practice, or course of business constituting a violation of this chapter or a regulation adopted or order issued under this chapter, the administrator may issue an order (1) directing the person to cease and desist from engaging in the act, practice, or course of business or to take other action necessary or appropriate to comply with this chapter;

(2) denying, suspending, revoking, or conditioning the exemptions for a broker-dealer under AS 45.56.300 (b)(1)(D) or (F) or an investment adviser under AS 45.56.340 (b)(1)(C); or

(3) denying, suspending, conditioning, or limiting an exemption as provided under AS 45.56.160 .

(b) An order under (a) of this section is effective on the date of issuance. Upon issuance of the order, the administrator shall promptly serve each person subject to the order with a copy of the order and a notice that the order has been entered. The order must include a statement of any civil penalty, restitution, or costs of investigation the administrator will seek, a statement of the reasons for the order, and notice that, within 15 days after receipt of a request in a record from the person, the matter will be scheduled for a hearing. If a person subject to the order does not request a hearing and none is ordered by the administrator within 30 days after the date of service of the order, the order, including the imposition of a civil penalty, the imposition of restitution, or requirement for payment of the costs of investigation sought in a statement in the order, becomes final as to that person by operation of law. If a hearing is requested or ordered, the administrator, after notice of and opportunity for hearing provided to each person subject to the order, may modify or vacate the order or extend it until final determination.

(c) If a hearing is requested or ordered under (b) of this section, a hearing shall be conducted by the office of administrative hearings ( AS 44.64.010 ), and AS 44.64.040  44.64.200 apply to and govern the hearing.

(d) In a final order under (b) of this section, the administrator may impose a civil penalty of not more than $100,000 for a single violation, unless the violation of this chapter is against an older person or a vulnerable adult. In addition to a civil penalty imposed under this subsection, a person or entity who engages in conduct prohibited under this chapter against an older person or a vulnerable adult may be liable for an additional civil penalty of treble statutory damages. In determining whether to impose a supplemental civil penalty under this subsection, the administrator shall consider, in addition to other appropriate factors, the extent to which the following factors are present: (1) whether the respondent knew that the respondent's conduct was directed to an older person or a vulnerable adult;

(2) whether the respondent's conduct caused an older person or a vulnerable adult to suffer (A) severe loss or encumbrance of a primary residence, principal employment, or source of income; or

(B) substantial loss of property set aside for retirement or for personal and family care and maintenance; or

(3) whether the respondent's conduct caused substantial loss of payments received under a pension or retirement plan or a government benefits program.

(e) In a final order under (b) of this section, the administrator may (1) impose restitution to any person in interest for any money or property, real or personal, that may have been acquired or transferred in violation of this chapter;

(2) charge the actual cost of an investigation or proceeding for a violation of this chapter or a regulation adopted or order issued under this chapter; and

(3) deny the violator the use of any exemptions listed under this chapter.

(f) The administrator may petition the superior court to enter a judgment against a person who is a respondent in the order for the amount of the civil penalty levied against the person. Subject to AS 44.62.570 , the filing of the petition for a judgment does not reopen the final order to further substantive review. A judgment entered under this subsection may be executed on and levied under in the manner provided in AS 09.35 .

(g) If a person does not comply with an order under this section, the administrator may petition a court of competent jurisdiction to enforce the order. The court may not require the administrator to post a bond in an action or proceeding under this section. If the court finds, after service and opportunity for hearing, that the person was not in compliance with the order, the court may adjudge the person in civil contempt of the order. The court may impose a further civil penalty against the person for contempt in an amount not less than $5,000 but not greater than $100,000 for each violation and may grant any other relief the court determines is just and proper in the circumstances.
Alaska Stat. § 45.29.503 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.503
Name of debtor and secured party.
Status: in_force

(a) A financing statement sufficiently provides the name of the debtor (1) except as otherwise provided in (3) of this subsection, if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization that purports to state, amend, or restate the registered organization's name;

(2) subject to (f) of this section, if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative;

(3) if the collateral is held in a trust that is not a registered organization, only if the financing statement (A) provides, as the name of the debtor, (i) if the organic record of the trust specifies a name for the trust, the name specified; or

(ii) if the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and

(B) in a separate part of the financing statement, (i) if the name is provided in accordance with (A)(i) of this paragraph, indicates that the collateral is held in a trust; or

(ii) if the name is provided in accordance with (A)(ii) of this paragraph, provides additional information sufficient to distinguish the trust from other trusts having one or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates;

(4) if the debtor is an individual, only if the financing statement provides (A) the individual name of the debtor;

(B) the surname and first personal name of the debtor; or

(C) subject to (g) of this section, the name of the individual that is indicated on an unexpired driver's license that this state has issued to the individual or on an unexpired identification card issued to the individual under AS 18.65.310 or AS 33.30.105 ; and

(5) in other cases, if the debtor (A) has a name, only if the financing statement provides the organizational name of the debtor; and

(B) does not have a name, only if the financing statement provides the names of the partners, members, associates, or other persons of which the debtor is composed, in a manner that each name provided would be sufficient if the person named were the debtor.

(b) A financing statement that provides the name of the debtor in accordance with (a) of this section is not rendered ineffective by the absence of (1) a trade name or other name of the debtor; or

(2) unless required under (a)(5)(B) of this section, names of partners, members, associates, or other persons of which the debtor is composed.

(c) A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor.

(d) Failure to indicate the representative capacity of a secured party or representative of a secured party does not affect the sufficiency of a financing statement.

(e) A financing statement may provide the name of more than one debtor and the name of more than one secured party.

(f) The name of the decedent indicated on the order appointing the personal representative of the decedent issued by the court having jurisdiction over the collateral is sufficient as the name of the decedent under (a)(2) of this section.

(g) If this state has issued to an individual more than one driver's license, more than one identification card under AS 18.65.310 or AS 33.30.105 , or both an identification card under AS 18.65.310 or AS 33.30.105 and a driver's license, the driver's license or identification card that was issued the most recently is the one to which (a)(4)(C) of this section refers.

(h) In this section, name of the settlor or testator means, (1) if the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization that purports to state, amend, or restate the settlor's name; or

(2) in cases other than those described in (1) of this subsection, the name of the settlor or testator indicated in the trust's organic record.
Alaska Stat. § 45.05.117 — AK Code / Title 45 / Chapter 45.05 / Section 45.05.117
Subrogation of issuer, applicant, and nominated person.
Status: in_force

(a) An issuer who honors a beneficiary's presentation is subrogated to the rights of (1) the beneficiary to the same extent as if the issuer were a secondary obligor of the underlying obligation owed to the beneficiary; and

(2) the applicant to the same extent as if the issuer were the secondary obligor of the underlying obligation owed to the applicant.

(b) An applicant that reimburses an issuer is subrogated to the rights of the issuer against a beneficiary, presenter, or nominated person to the same extent as if the applicant were the secondary obligor of the obligations owed to the issuer, and the applicant has the rights of subrogation of the issuer to the rights of the beneficiary stated in (a) of this section.

(c) A nominated person who pays or gives value against a draft or demand presented under a letter of credit is subrogated to the rights of (1) the issuer against the applicant to the same extent as if the nominated person were a secondary obligor of the obligation owed to the issuer by the applicant;

(2) the beneficiary to the same extent as if the nominated person were a secondary obligor of the underlying obligation owed to the beneficiary; and

(3) the applicant to the same extent as if the nominated person were a secondary obligor of the underlying obligation owed to the applicant.

(d) Notwithstanding an agreement or term to the contrary, the rights of subrogation stated in (a) and (b) of this section do not arise until the issuer honors the letter of credit or otherwise pays, and the rights of subrogation stated in (c) of this section do not arise until the nominated person pays or otherwise gives value. Until then, the issuer, nominated person, and the applicant do not derive under this section present or prospective rights forming the basis of a claim, defense, or excuse.
Alaska Stat. § 45.50.290 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.290
Certificate of registration as evidence.
Status: in_force

A certificate of registration of a brand or a certified copy of the certificate or of the instrument of transfer of a registered brand is prima facie evidence of the ownership of the timber property impressed with or displaying the registered brand.
Alaska Stat. § 45.29.626 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.626
Action in which deficiency or surplus is in issue.
Status: in_force

(a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (1) a secured party need not prove compliance with the provisions of AS 45.29.601  45.29.628 relating to collection, enforcement, disposition, or acceptance unless the debtor or secondary obligor places the secured party's compliance in issue;

(2) if the secured party's compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in compliance with the provisions of AS 45.29.601  45.29.628;

(3) except as otherwise provided in AS 45.29.628 , if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in compliance with the provisions of AS 45.29.601  45.29.628 relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorney fees exceeds the greater of (A) the proceeds of the collection, enforcement, disposition, or acceptance; or

(B) the amount of proceeds that would have been realized had the noncomplying secured party proceeded in compliance with the provisions of AS 45.29.601  45.29.628 relating to collection, enforcement, disposition, or acceptance;

(4) for purposes of (3)(B) of this subsection, the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney fees unless the secured party proves that the amount is less than that sum;

(5) if a deficiency or surplus is calculated under AS 45.29.615 (f), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.

(b) The limitation of the rules in (a) of this section to transactions other than consumer transactions is intended to leave to the court the determination of the proper rules in consumer transactions. The court may not infer from that limitation the nature of the proper rule in consumer transactions and may continue to apply established approaches.
Alaska Stat. § 45.08.502 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.502
Assertion of adverse claim against entitlement holder.
Status: in_force

An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under AS 45.08.501 for value and without notice of the adverse claim.
Alaska Stat. § 45.29.107 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.107
Control of letter-of-credit right.
Status: in_force

A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or a nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under AS 45.05.114 (c) or otherwise applicable law or practice.
Alaska Stat. § 45.45.570 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.570
Construction.
Status: in_force

AS 45.45.500  45.45.590 may not be construed to prevent a performing rights society from informing a business proprietor of the business proprietor's obligations under 17 U.S.C. (federal copyright law) or from exercising any exclusive rights preempted under 17 U.S.C. 301(a).
Alaska Stat. § 45.14.210 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.210
Rejection of payment order.
Status: in_force

(a) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing. A notice of rejection does not need to use particular words and is sufficient if it indicates that the receiving bank is rejecting the order or will not execute or pay the order. Rejection is effective when the notice is given if transmission is by a means that is reasonable in the circumstances. If notice of rejection is given by a means that is not reasonable, rejection is effective when the notice is received. If an agreement of the sender and receiving bank establishes the means to be used to reject a payment order, means (1) complying with the agreement are reasonable; and

(2) not complying with the agreement are not reasonable unless significant delay in receipt of the notice did not result from the use of the noncomplying means.

(b) This subsection applies if a receiving bank other than the beneficiary's bank fails to execute a payment order despite the existence on the execution date of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order. If the sender does not receive notice of rejection of the order on the execution date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the execution date to the earlier of the day the order is canceled under AS 45.14.211 (e) or the day the sender receives notice or learns that the order was not executed, counting the final day of the period as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest is reduced accordingly.

(c) If a receiving bank suspends payments, all unaccepted payment orders issued to it are considered rejected at the time the bank suspends payments.

(d) Acceptance of a payment order precludes a later rejection of the order. Rejection of a payment order precludes a later acceptance of the order.
Alaska Stat. § 45.75.210 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.210
Declarations of unit price on random packages.
Status: in_force

In addition to the declarations required by AS 45.75.200 , a commodity in package form, which is one of a lot containing random weights, measures, or counts of the same commodity and bearing the total selling price of the package, shall bear on the outside of the package a plain and conspicuous declaration of the price per single unit of weight, measure, or count.
Alaska Stat. § 45.02.318 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.318
Third-party beneficiaries of warranties express or implied.
Status: in_force

A seller's warranty whether express or implied extends to a natural person who is in the family or household of the buyer or who is a guest in the buyer's home if it is reasonable to expect that the person may use, consume, or be affected by the goods and who is injured in person by breach of the warranty. A seller may not exclude or limit the operation of this section.
Alaska Stat. § 45.45.770 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.770
Exemptions.
Status: in_force

(a) AS 45.45.700  45.45.790 do not apply to (1) a distributorship agreement that would be considered a franchise regulated by 15 U.S.C. 2801  2841 (Petroleum Marketing Practices Act);

(2) a situation regulated by AS 45.50.800  45.50.850;

(3) a distributorship agreement, including a franchise agreement, for the sale, repair, or servicing of motor vehicles that are required to be registered under AS 28.10 ;

(4) an activity or agreement by a person licensed under AS 04 if the activity or agreement is within the scope of the license or is incidental to the activity or agreement that is within the scope of the license;

(5) a distributorship agreement or another contract between a person licensed under AS 04 and a distributor, manufacturer, importer, supplier, or wholesaler of alcoholic beverages who is not located in this state if the subject of the agreement or contract is the distribution of alcoholic beverages to the licensed person by the distributor, manufacturer, importer, supplier, or wholesaler;

(6) a distributor, manufacturer, importer, supplier, or wholesaler of alcoholic beverages;

(7) a distributorship agreement for the sale or distribution of, or other transaction involving, cigarettes, food, drink, or a component of food or drink; in this paragraph, cigarette has the meaning given in AS 43.50.170 ;

(8) a manufacturer with 50 or fewer employees; or

(9) a marine product or motorized recreational product agreement under AS 45.27 .

(b) In (a) of this section, alcoholic beverage has the meaning given in AS 04.21.080 .
Alaska Stat. § 45.50.930 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.930
Effect on other laws.
Status: in_force

(a) AS 45.50.910  45.50.945 displace conflicting tort, restitutionary, and other state laws pertaining to civil liability for misappropriation of a trade secret.

(b) AS 45.50.910  45.50.945 do not affect (1) contractual or other civil liability or relief that is not based upon misappropriation of a trade secret; or

(2) criminal liability for misappropriation of a trade secret.

(c) AS 45.50.910  45.50.945 do not apply to investigations or actions by the attorney general under AS 45.50.471  45.50.561 (Alaska Unfair Trade Practices and Consumer Protection Act) or under AS 45.50.562  45.50.596 (Alaska Restraint of Trade Act).
Alaska Stat. § 45.29.304 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.304
Law governing perfection and priority of security interests in deposit accounts.
Status: in_force

(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 a deposit account maintained with that bank.

(b) The following rules determine a bank's jurisdiction for purposes of AS 45.29.301  45.29.342: (1) if an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of AS 45.29.301  45.29.342, this chapter, or the code, that jurisdiction is the bank's jurisdiction;

(2) if (1) of this subsection does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction;

(3) if neither (1) nor (2) of this subsection applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction;

(4) if (1), (2), or (3) of this subsection does not apply, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located;

(5) if (1), (2), (3), or (4) of this subsection does not apply, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.
Alaska Stat. § 45.01.211 — AK Code / Title 45 / Chapter 45.01 / Section 45.01.211
General definitions.
Status: in_force

(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other chapters of the code that apply to particular chapters or articles of the code, have the meanings stated.

(b) Subject to definitions contained in other chapters of the code that apply to particular chapters or articles of the code, (1) action, in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity, and another proceeding in which rights are determined;

(2) aggrieved party means a party entitled to pursue a remedy;

(3) agreement, as distinguished from contract, means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in AS 45.01.303 ;

(4) bank means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company;

(5) bearer means a person in control of a negotiable electronic document of title or a person in possession of a negotiable instrument, negotiable tangible document of title, or certificated security that is payable to bearer or endorsed in blank;

(6) bill of lading means a document of title evidencing the receipt of goods for shipment issued by a person engaged in the business of directly or indirectly transporting or forwarding goods; bill of lading does not include a warehouse receipt;

(7) branch includes a separately incorporated foreign branch of a bank;

(8) burden of establishing a fact means the burden of persuading the trier of fact that the existence of the fact is more probable than its nonexistence;

(9) buyer in ordinary course of business means a person who buys goods in good faith, without knowledge that the sale violates the rights of another person in the goods, and in the ordinary course from a person, other than a pawnbroker, in the business of selling goods of that kind; a person buys goods in the ordinary course if the sale to the person comports with the usual or customary practices in the kind of business in which the seller is engaged or with the seller's own usual or customary practices; a person who sells oil, gas, or other minerals at the wellhead or minehead is a person in the business of selling goods of that kind; a buyer in ordinary course of business may buy for cash, by exchange of other property, or on secured or unsecured credit, and may acquire goods or documents of title under a preexisting contract for sale; only a buyer who takes possession of the goods or has a right to recover the goods from the seller under AS 45.02 may be a buyer in ordinary course of business; buyer in ordinary course of business does not include a person who acquires goods in a transfer in bulk or as security for or in total or partial satisfaction of a money debt;

(10) code means AS 45.01  AS 45.08 , AS 45.12 , AS 45.14 , and AS 45.29 ;

(11) conspicuous, with reference to a term, means written, displayed, or presented in a way that a reasonable person against whom it is to operate ought to have noticed it; whether a term is conspicuous or not is a decision for the court; conspicuous terms include (A) a heading in capitals equal to or greater in size than the surrounding text, or in contrasting type, font, or color to the surrounding text of the same or lesser size; and

(B) language in the body of a record or display in larger type than the surrounding text, or in contrasting type, font, or color to the surrounding text of the same size, or set off from surrounding text of the same size by symbols or other marks that call attention to the language;

(12) consumer means an individual who enters into a transaction primarily for personal, family, or household purposes;

(13) contract, as distinguished from agreement, means the total legal obligation that results from the parties' agreement as determined by the code as supplemented by other applicable laws;

(14) creditor includes a general creditor, a secured creditor, a lien creditor, and a representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate;

(15) defendant includes a person in the position of defendant in a counterclaim, cross-claim, or third-party claim;

(16) delivery, with respect to an electronic document of title, means voluntary transfer of control and, with respect to an instrument, a tangible document of title, or chattel paper, means voluntary transfer of possession;

(17) document of title (A) means a record that (i) in the regular course of business or financing, is treated as adequately evidencing that the person in possession or control of the record is entitled to receive, control, hold, and dispose of the record and the goods the record covers; and

(ii) purports to be issued by or addressed to a bailee and to cover goods in the bailee's possession that are either identified or are fungible portions of an identified mass;

(B) includes a bill of lading, transport document, dock warrant, dock receipt, warehouse receipt, and order for delivery of goods;

(18) electronic document of title means a document of title evidenced by a record consisting of information stored in an electronic medium;

(19) fault means a default, breach, or wrongful act or omission;

(20) fungible goods means goods (A) of which a unit, by nature or usage of trade, is the equivalent of another like unit; or

(B) that, by agreement, are treated as equivalent;

(21) genuine means free of forgery or counterfeiting;

(22) good faith, except as otherwise provided in AS 45.05 , means honesty in fact and the observance of reasonable commercial standards of fair dealing;

(23) holder means the person in (A) possession of a negotiable instrument that is payable either to bearer or to an identified person who is the person in possession;

(B) possession of a negotiable tangible document of title if the goods are deliverable either to bearer or to the order of the person in possession; or

(C) control of a negotiable electronic document of title;

(24) insolvency proceeding includes an assignment for the benefit of creditors or another proceeding intended to liquidate or rehabilitate the estate of the person involved;

(25) insolvent means (A) having generally ceased to pay debts in the ordinary course of business other than as a result of bona fide dispute;

(B) being unable to pay debts as they become due; or

(C) being insolvent within the meaning of federal bankruptcy law;

(26) money means a medium of exchange currently authorized or adopted by a domestic or foreign government, and includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries;

(27) organization means a person other than an individual;

(28) party, as distinguished from third party, means a person who has engaged in a transaction or made an agreement subject to the code;

(29) pawnbroker has the meaning given in AS 08.76.590 ;

(30) person means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or another legal or commercial entity;

(31) present value means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain (A) by use of an interest rate that is specified by the parties if that rate is not manifestly unreasonable at the time the transaction is entered into; or

(B) if an interest rate is not determined under (A) of this paragraph, by use of a commercially reasonable rate that takes into account the facts and circumstances at the time the transaction is entered into;

(32) purchase means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or another voluntary transaction creating an interest in property;

(33) purchaser means a person who takes by purchase;

(34) record means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form;

(35) remedy means a remedial right to which an aggrieved party is entitled with or without resort to a tribunal;

(36) representative means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate;

(37) right includes remedy;

(38) security interest means an interest in personal property or fixtures that secures payment or performance of an obligation; security interest includes an interest of a consignor and a buyer of accounts, chattel paper, a payment intangible, or a promissory note in a transaction that is subject to AS 45.29 ; security interest does not include the special property interest of a buyer of goods on identification of those goods to a contract for sale under AS 45.02.401 , but a buyer may also acquire a security interest by complying with AS 45.29 ; except as otherwise provided in AS 45.02.505 , the right of a seller or lessor of goods under AS 45.02 or AS 45.12 to retain or acquire possession of the goods is not a security interest, but a seller or lessor may also acquire a security interest by complying with AS 45.29 ; the retention or reservation of title by a seller of goods notwithstanding shipment or delivery to the buyer under AS 45.02.401 is limited in effect to a reservation of a security interest; whether a transaction in the form of a lease creates a security interest is determined under AS 45.01.213 ;

(39) send, in connection with a writing, record, or notice, means (A) to deposit in the mail or deliver for transmission by a usual means of communication with postage or cost of transmission provided for and properly addressed and, in the case of an instrument, to an address specified on the instrument or otherwise agreed on, or, if an address is not specified on the instrument or otherwise agreed on, to an address reasonable under the circumstances; or

(B) in another way to cause to be received a record or notice within the time it would have arrived if properly sent;

(40) signed includes using a symbol executed or adopted with present intention to adopt or accept a writing;

(41) state means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or a territory or insular possession subject to the jurisdiction of the United States;

(42) surety includes a guarantor or other secondary obligor;

(43) tangible document of title means a document of title evidenced by a record consisting of information that is inscribed on a tangible medium;

(44) term means a portion of an agreement that relates to a particular matter;

(45) unauthorized signature means a signature made without actual, implied, or apparent authority, and includes a forgery;

(46) warehouse receipt means a document of title issued by a warehouse; in this paragraph, warehouse has the meaning given in AS 45.07.112 (a);

(47) writing includes printing, typewriting, or another intentional reduction to tangible form; written has a corresponding meaning.
Alaska Stat. § 45.29.316 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.316
Continued perfection of security interest following change in governing law.
Status: in_force

(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) the time perfection would have ceased under the law of that jurisdiction;

(2) the expiration of four months after a change of the debtor's location to another jurisdiction; or

(3) the expiration of one year after a transfer of collateral to a person who thereby becomes a debtor and is located in another jurisdiction.

(b) If a security interest described in (a) of this section becomes perfected under the law of the other jurisdiction before the earliest time or event described in (a) of this section, it remains perfected thereafter. If the security interest does not become perfected under the law of the other jurisdiction before the earliest time or event, it becomes unperfected and is considered never to have been perfected as against a purchaser of the collateral for value.

(c) A possessory security interest in collateral, other than goods covered by a certificate of title and as-extracted collateral consisting of goods, remains continuously perfected if (1) the collateral is located in one jurisdiction and subject to a security interest perfected under the law of that jurisdiction;

(2) after the event described in (1) of this subsection occurs, the collateral is brought into another jurisdiction; and

(3) upon entry into the other jurisdiction, the security interest is perfected under the law of the other jurisdiction.

(d) Except as otherwise provided in (e) of this section, a security interest in goods covered by a certificate of title that is perfected by a method under the law of another jurisdiction when the goods become covered by a certificate of title from this state remains perfected until the security interest would have become unperfected under the law of the other jurisdiction had the goods not become so covered.

(e) A security interest described in (d) of this section becomes unperfected as against a purchaser of the goods for value and is considered never to have been perfected as against a purchaser of the goods for value if the applicable requirements for perfection under AS 45.29.311 (b) or 45.29.313 are not satisfied before the earlier of (1) the time the security interest would have become unperfected under the law of the other jurisdiction had the goods not become covered by a certificate of title from this state; or

(2) the expiration of four months after the goods had become so covered.

(f) A security interest in deposit accounts, letter-of-credit rights, or investment property that is perfected under the law of the bank's jurisdiction, the issuer's jurisdiction, a nominated person's jurisdiction, the securities intermediary's jurisdiction, or the commodity intermediary's jurisdiction, as applicable, remains perfected until the earlier of (1) the time the security interest would have become unperfected under the law of that jurisdiction; or

(2) the expiration of four months after a change of the applicable jurisdiction to another jurisdiction.

(g) If a security interest described in (f) of this section becomes perfected under the law of the other jurisdiction before the earlier of the time or the end of the period described in (f) of this section, it remains perfected thereafter. If the security interest does not become perfected under the law of the other jurisdiction before the earlier of that time or the end of that period, it becomes unperfected and is considered never to have been perfected as against a purchaser of the collateral for value.

(h) The following rules apply to collateral to which a security interest attaches within four months after the debtor changes its location to another jurisdiction: (1) a financing statement filed before the change under the law of the jurisdiction designated in AS 45.29.301 (1) or 45.29.305(c) is effective to perfect a security interest in the collateral if the financing statement would have been effective to perfect a security interest in the collateral had the debtor not changed its location;

(2) if a security interest perfected by a financing statement that is effective under (1) of this subsection becomes perfected under the law of the other jurisdiction before the earlier of the time the financing statement would have become ineffective under the law of the jurisdiction designated in AS 45.29.301 (1) or 45.29.305(c) or the expiration of the four-month period, it remains perfected; if the security interest does not become perfected under the law of the other jurisdiction before the earlier time or event, it becomes unperfected and is considered never to have been perfected as against a purchaser of the collateral for value.

(i) If a financing statement naming an original debtor is filed under the law of the jurisdiction designated in AS 45.29.301 (1) or 45.29.305(c) and the new debtor is located in another jurisdiction, the following rules apply: (1) the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under AS 45.29.203 (d), if the financing statement would have been effective to perfect a security interest in the collateral had the collateral been acquired by the original debtor;

(2) a security interest perfected by the financing statement and that becomes perfected under the law of the other jurisdiction before the earlier of the time the financing statement would have become ineffective under the law of the jurisdiction designated in AS 45.29.301 (1) or 45.29.305(c) or the expiration of the four-month period remains perfected; a security interest that is perfected by the financing statement but that does not become perfected under the law of the other jurisdiction before the earlier time or event becomes unperfected and is considered never to have been perfected as against a purchaser of the collateral for value.
Alaska Stat. § 45.03.418 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.418
Payment or acceptance by mistake.
Status: in_force

(a) Except as provided in (c) of this section, if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped under AS 45.04.403 or that the signature of the drawer of the draft was authorized, the drawee may recover the amount of the draft from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance. Rights of the drawee under this subsection are not affected by failure of the drawee to exercise ordinary care in paying or accepting the draft.

(b) Except as provided in (c) of this section, if an instrument has been paid or accepted by mistake and the case is not covered by (a) of this section, the person paying or accepting may, to the extent permitted by the law governing mistake and restitution, recover the payment from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance.

(c) The remedies provided by (a) or (b) of this section may not be asserted against a person who took the instrument in good faith and for value or who in good faith changed position in reliance on the payment or acceptance. This subsection does not limit remedies provided by AS 45.03.407 or AS 45.04.407 .

(d) Notwithstanding AS 45.04.215 , if an instrument is paid or accepted by mistake and the payor or acceptor recovers payment or revokes acceptance under (a) or (b) of this section, the instrument is considered not to have been paid or accepted and is treated as dishonored, and the person from whom payment is recovered has rights as a person entitled to enforce the dishonored instrument.
Alaska Stat. § 45.30.025 — AK Code / Title 45 / Chapter 45.30 / Section 45.30.025
Surety's liability and right to cancel bond.
Status: in_force

(a) The surety shall inform the attorney general in writing of all claims against the bond lodged directly with the surety and all sums paid against the bond.

(b) The surety on the bond is not liable in an aggregate amount in excess of that named in the bond.

(c) Nothing in this chapter impairs the right of a surety to cancel its bond for lawful reasons; however, a cancellation does not extinguish the surety's liability on the bond for mobile homes previously delivered to buyers in the state.
Alaska Stat. § 45.08.204 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.204
Effect of issuer's restriction on transfer.
Status: in_force

A restriction on transfer of a security imposed by the issuer, even though otherwise lawful, is ineffective against a person without knowledge of the restriction unless the security (1) is certificated and the restriction is noted conspicuously on the security certificate; or

(2) is uncertificated and the registered owner has been notified of the restriction.
Alaska Stat. § 45.56.180 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.180
Securities registration by qualification.
Status: in_force

(a) A security may be registered by qualification under this section.

(b) A registration statement under this section must contain the information or records specified in AS 45.56.190 , a consent to service of process complying with AS 45.56.650 , and the following information or records: (1) with respect to the issuer and any significant subsidiary, the name, address, and form of organization of the issuer and subsidiary; the state or foreign jurisdiction and date of organization of the issuer and subsidiary; the general character and location of the business of the issuer and subsidiary; a description of the physical properties and equipment of the issuer and subsidiary; and a statement of the general competitive conditions in the industry or business in which the issuer and subsidiary are or will be engaged;

(2) with respect to each director and officer of the issuer and other person having a similar status or performing similar functions, the person's name, address, and principal occupation for the previous five years; the amount of securities of the issuer held by the person as of the 30th day before the filing of the registration statement; the amount of the securities covered by the registration statement to which the person has indicated an intention to subscribe; and a description of any material interest of the person in any material transaction with the issuer or a significant subsidiary effected within the previous three years or proposed to be effected;

(3) with respect to persons covered by (2) of this subsection, the aggregate sum of the remuneration paid to those persons during the previous 12 months and estimated to be paid during the next 12 months, directly or indirectly, by the issuer and all predecessors, parents, subsidiaries, and affiliates of the issuer;

(4) with respect to a person owning of record or owning beneficially, if known, 10 percent or more of the outstanding shares of any class of equity security of the issuer, the information specified in (2) of this subsection, other than the person's occupation;

(5) with respect to a promoter, if the issuer was organized within the previous three years, the information or records specified in (2) of this subsection, any amount paid to the promoter within that period or intended to be paid to the promoter, and the consideration for the payment;

(6) with respect to a person on whose behalf any part of the offering is to be made in a nonissuer distribution, the person's name and address; the amount of securities of the issuer held by the person as of the date of the filing of the registration statement; a description of any material interest of the person in any material transaction with the issuer or any significant subsidiary effected within the previous three years or proposed to be effected; and a statement of the reasons for making the offering;

(7) the capitalization and long-term debt, on both a current and pro forma basis, of the issuer and any significant subsidiary, including a description of each security outstanding or being registered or otherwise offered, and a statement of the amount and kind of consideration, whether in the form of cash, physical assets, services, patents, goodwill, or anything else of value, for which the issuer or any subsidiary has issued its securities within the previous two years or is obligated to issue its securities;

(8) the kind and amount of securities to be offered; the proposed offering price or the method by which the offering price is to be computed; any variation at which a proportion of the offering is to be made to a person or class of persons other than the underwriters, with a specification of the person or class; the basis on which the offering is to be made if otherwise than for cash; the estimated aggregate underwriting and selling discounts or commissions and finders' fees, including separately cash, securities, contracts, or anything else of value to accrue to the underwriters or finders in connection with the offering or, if the selling discounts or commissions are variable, the basis of determining them and their maximum and minimum amounts; the estimated amounts of other selling expenses, including legal, engineering, and accounting charges; the name and address of each underwriter and each recipient of a finder's fee; a copy of any underwriting or selling group agreement under which the distribution is to be made, or the proposed form of an underwriting or selling group agreement whose terms have not yet been determined; and a description of the plan of distribution of any securities that are to be offered other than through an underwriter;

(9) the estimated monetary proceeds to be received by the issuer from the offering; the purposes for which the proceeds are to be used by the issuer; the estimated amount to be used for each purpose; the order or priority in which the proceeds will be used for the purposes stated; the amounts of any funds to be raised from other sources to achieve the purposes stated; the sources of the funds; and, if a part of the proceeds is to be used to acquire property, including goodwill, other than in the ordinary course of business, the names and addresses of the vendors, the purchase price, the names of any persons that have received commissions in connection with the acquisition, and the amounts of the commissions and other expenses in connection with the acquisition, including the cost of borrowing money to finance the acquisition;

(10) a description of any stock options or other security options outstanding or to be created in connection with the offering, and the amount of those options held or to be held by each person required to be named in (2), (4), (5), (6), or (8) of this subsection and by any person that holds or will hold 10 percent or more in the aggregate of those options;

(11) the dates of, parties to, and general effect, concisely stated, of each managerial or other material contract made or to be made other than in the ordinary course of business to be performed in whole or in part at or after the filing of the registration statement or that was made within the previous two years, and a copy of each contract;

(12) a description of any pending litigation, action, or proceeding to which the issuer is a party and that materially affects the issuer's business or assets and any litigation, action, or proceeding known to be contemplated;

(13) a copy of any prospectus, pamphlet, circular, form letter, advertisement, or other sales literature intended as of the effective date of the registration statement to be used in connection with the offering and any solicitation of interest used in compliance with AS 45.56.120 (17)(B);

(14) a specimen or copy of the security being registered, unless the security is uncertificated; a copy of the issuer's articles of incorporation and bylaws or their substantial equivalents, in effect; and a copy of any indenture or other instrument covering the security to be registered;

(15) a signed or conformed copy of an opinion of counsel concerning the legality of the security being registered, with an English translation if the opinion is in a language other than English, that states whether the security when sold will be validly issued, fully paid, nonassessable, and, if a debt security, a binding obligation of the issuer;

(16) a signed or conformed copy of a consent of any accountant, engineer, appraiser, or other person whose profession gives authority for a statement made by the person if the person is named as having prepared or certified a report or valuation, other than an official record, that is public, and that is used in connection with the registration statement;

(17) a balance sheet of the issuer as of a date within four months before the filing of the registration statement; a statement of income and a statement of cash flows for each of the three fiscal years preceding the date of the balance sheet and for any period between the close of the immediately previous fiscal year and the date of the balance sheet, or for the period of the issuer's and any predecessor's existence if less than three years; and, if any part of the proceeds of the offering is to be applied to the purchase of a business, the financial statements that would be required if that business were the registrant; and

(18) any additional information or records required by a regulation adopted or order issued under this chapter.

(c) A registration statement under this section becomes effective when the administrator orders that the registration is effective.

(d) A regulation adopted or order issued under this chapter may require as a condition of registration under this section that a prospectus containing a specified part of the information or record specified in (b) of this section be sent or given to each person to which an offer is made before or concurrently with the earliest of (1) the first offer made in a record to the person other than by means of a public advertisement, by or for the account of the issuer or another person on whose behalf the offering is being made or by an underwriter or broker-dealer that is offering part of an unsold allotment or subscription taken by the person as a participant in the distribution;

(2) the confirmation of a sale made by or for the account of the person;

(3) payment under the sale; or

(4) delivery of the security under the sale.
Alaska Stat. § 45.50.060 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.060
Certificate of registration as evidence.
Status: in_force

A certificate of registration issued by the commissioner under AS 45.50.010  45.50.205 or a copy of it certified by the commissioner is admissible in evidence as competent and sufficient proof of the registration of the mark in an action or judicial proceeding in the state.
Alaska Stat. § 45.56.500 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.500
General fraud.
Status: in_force

A person may not, in connection with the offer, sale, or purchase of a security, directly or indirectly, (1) employ a device, scheme, or artifice to defraud;

(2) make an untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which they were made, not misleading; or

(3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit on another person.
Alaska Stat. § 45.29.603 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.603
Agreement on standards concerning rights and duties.
Status: in_force

(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in AS 45.29.602 if the standards are not manifestly unreasonable.

(b) The provisions of (a) of this section do not apply to the duty under AS 45.29.609 to refrain from breaching the peace.
Alaska Stat. § 45.45.110 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.110
Definitions.
Status: in_force

In AS 45.45.100 and 45.45.105, (1) merchandise means personal property capable of manual delivery that is produced, displayed, held, or offered for sale by a manufacturer, distributor, or merchant;

(2) merchant means an owner or operator of a place of business used for displaying, holding, or selling personal property capable of manual delivery, and the agent, consignee, employee, lessee, or officer of the owner or operator;

(3) premises means an establishment or part of one in which merchandise is displayed, held, or offered for sale.

Article 4. Funerals.
Alaska Stat. § 45.30.100 — AK Code / Title 45 / Chapter 45.30 / Section 45.30.100
Definitions.
Status: in_force

In this chapter, (1) buyer means a person who purchases a mobile home for personal use and not for purposes of resale;

(2) department means the Department of Law;

(3) mobile home means a vehicle designed and equipped for human habitation, and which may be drawn by a motor vehicle only when authorized by permit.
Alaska Stat. § 45.56.710 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.710
Civil liability.
Status: in_force

(a) Enforcement of civil liability under this section is subject to P.L. 105-353 (Securities Litigation Uniform Standards Act of 1998).

(b) A person is liable to the purchaser if the person sells a security in violation of AS 45.56.100 , or by means of an untrue statement of a material fact or an omission to state a material fact necessary to make the statement made, in light of the circumstances under which it is made, not misleading, the purchaser not knowing the untruth or omission and the seller not sustaining the burden of proof that the seller did not know and, in the exercise of reasonable care, could not have known of the untruth or omission. An action under this subsection is governed by the following: (1) the purchaser may maintain an action to recover the consideration paid for the security, less the amount of any income received on the security, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the purchase, costs, and attorney fees as determined by the court, upon the tender of the security, or for actual damages as provided in (3) of this subsection;

(2) the tender referred to in (1) of this subsection may be made any time before entry of judgment; tender requires only notice in a record of ownership of the security and willingness to exchange the security for the amount specified; a purchaser that no longer owns the security may recover actual damages as provided in (3) of this subsection;

(3) actual damages in an action arising under this subsection are the amount that would be recoverable upon a tender less the value of the security when the purchaser disposed of it, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the purchase, costs, and attorney fees as determined by the court.

(c) A person is liable to the seller if the person buys a security by means of an untrue statement of a material fact or omission to state a material fact necessary to make the statement made, in light of the circumstances under which it is made, not misleading, the seller not knowing of the untruth or omission, and the purchaser not sustaining the burden of proof that the purchaser did not know and, in the exercise of reasonable care, could not have known of the untruth or omission. An action under this subsection is governed by the following: (1) the seller may maintain an action to recover the security and any income received on the security, costs, and attorney fees as determined by the court, upon the tender of the purchase price, or for actual damages as provided in (3) of this subsection;

(2) the tender referred to in (1) of this subsection may be made any time before entry of judgment; tender requires only notice in a record of the present ability to pay the amount tendered and willingness to take delivery of the security for the amount specified; if the purchaser no longer owns the security, the seller may recover actual damages as provided in (3) of this subsection;

(3) actual damages in an action arising under this subsection are the difference between the price at which the security was sold and the value the security would have had at the time of the sale in the absence of the purchaser's conduct causing liability, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the sale of the security, costs, and attorney fees as determined by the court.

(d) A person acting as a broker-dealer or agent that sells or buys a security in violation of AS 45.56.300 (a), 45.56.340(a), or 45.56.530 is liable to the customer. The customer, if a purchaser, may maintain an action for recovery of actual damages as specified in (b) of this section or, if a seller, for a remedy as specified in (c) of this section.

(e) A person acting as an investment adviser or investment adviser representative that provides investment advice for compensation in violation of AS 45.56.340 (a), 45.56.350(a), or 45.56.530 is liable to the client. The client may maintain an action to recover the consideration paid for the advice, interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of payment, costs, and attorney fees as determined by the court.

(f) A person that receives, directly or indirectly, any consideration for providing investment advice to another person and that employs a device, scheme, or artifice to defraud the other person or engages in an act, practice, or course of business that operates or would operate as a fraud or deceit on the other person is liable to the other person. An action under this subsection is governed by the following: (1) the person defrauded may maintain an action to recover the consideration paid for the advice and the amount of any actual damages caused by the fraudulent conduct, interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the fraudulent conduct, costs, and reasonable attorney fees as determined by the court, less the amount of any income received as a result of the fraudulent conduct;

(2) this subsection does not apply to a broker-dealer or its agents if the investment advice provided is solely incidental to transacting business as a broker-dealer and special compensation is not received for the investment advice.

(g) The following persons are liable jointly and severally with and to the same extent as persons liable under (b)  (f) of this section: (1) a person that directly or indirectly controls a person liable under (b)  (f) of this section, unless the controlling person sustains the burden of proof that the person did not know and, in the exercise of reasonable care, could not have known of the existence of conduct because of which the liability is alleged to exist;

(2) an individual who is a managing partner, executive officer, or director of a person liable under (b)  (f) of this section, including an individual having a similar status or performing similar functions, unless the individual sustains the burden of proof that the individual did not know and, in the exercise of reasonable care, could not have known of the existence of conduct because of which the liability is alleged to exist;

(3) an individual who is an employee of or associated with a person liable under (b)  (f) of this section and who materially aids the conduct giving rise to the liability, unless the individual sustains the burden of proof that the individual did not know and, in the exercise of reasonable care, could not have known of the existence of conduct because of which the liability is alleged to exist; and

(4) a person that is a broker-dealer, agent, investment adviser, or investment adviser representative that materially aids the conduct giving rise to the liability under (b)  (f) of this section, unless the person sustains the burden of proof that the person did not know and, in the exercise of reasonable care, could not have known of the existence of conduct because of which the liability is alleged to exist.

(h) A person liable under this section has a right of contribution as in cases of contract against any other person liable under this section for the same conduct.

(i) A cause of action under this section survives the death of an individual who might have been a plaintiff or defendant.

(j) A person may not obtain relief under (b) of this section (1) for a violation of AS 45.56.100 , or under (d) or (e) of this section, unless the action is instituted within three years after the violation occurred; or

(2) other than for a violation of AS 45.56.100 , or under (c) or (f) of this section, unless the action is instituted within the earlier of two years after discovery of the facts constituting the violation or five years after the violation.

(k) A person that has made, or has engaged in the performance of, a contract in violation of this chapter or a regulation adopted or order issued under this chapter or that has acquired a purported right under the contract with knowledge of conduct because of which its making or performance was in violation of this chapter may not base an action on the contract.

(l) A condition, stipulation, or provision binding a person purchasing or selling a security or receiving investment advice to waive compliance with this chapter or a regulation adopted or order issued under this chapter is void.

(m) The rights and remedies provided by this chapter are in addition to any other rights or remedies that may exist, but this chapter does not create a cause of action not specified in this section or AS 45.56.420 (e).
Alaska Stat. § 45.45.640 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.640
Lease unenforceable after refund.
Status: in_force

A person may not enforce the lease for an assistive technology device or a mobility aid against the consumer after the consumer receives a refund under AS 45.45.600  45.45.690.
Alaska Stat. § 45.12.109 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.109
Option to accelerate at will.
Status: in_force

(a) A term providing that one party or the party's successor in interest may accelerate payment or performance or require collateral or additional collateral at will or when the party considers itself insecure, or in words of similar import, shall be construed to mean that the party has power to do so only if the party in good faith believes that the prospect of payment or performance is impaired.

(b) With respect to a consumer lease, the burden of establishing good faith under (a) of this section is on the party who exercised the power; otherwise the burden of establishing lack of good faith is on the party against whom the power has been exercised.

Article 2. Formation and Construction of Lease Contract.
Alaska Stat. § 45.45.050 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.050
Recovery by assignee of usurious contract of amount paid.
Status: in_force

AS 45.45.010  45.45.070 do not prevent the bona fide assignee of a usurious contract from recovering against the immediate assignor, or the original usurer, the full amount paid by the assignee for the contract if the assignee did not have notice of the usury affecting the contract.
Alaska Stat. § 45.45.330 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.330
Failure to replace or refund.
Status: in_force

A manufacturer or distributor who fails to refund the full purchase price of a motor vehicle or replace the motor vehicle when there is a requirement to do so under AS 45.45.300  45.45.360 is presumed to have committed an unfair trade practice under AS 45.50.471 .
Alaska Stat. § 45.25.220 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.220
Performance and reimbursement of certain repairs.
Status: in_force

(a) Except as provided in (b) of this section, if a new motor vehicle needs repairs that are covered under a manufacturer's warranty, and if the new motor vehicle is located in a remote location, the manufacturer shall make reasonable efforts to arrange for the new motor vehicle to be repaired in the remote location.

(b) If a manufacturer determines that repairs cannot reasonably be made in a remote location within the manufacturer's guidelines, the manufacturer may arrange, at no cost to the owner of the new motor vehicle, to ship the new motor vehicle to a repair facility outside of the remote location and to return the new motor vehicle to the remote location after the repairs are completed.

(c) A manufacturer may direct a new motor vehicle dealer of the manufacturer to refer customers of the new motor vehicle dealer to the manufacturer if the new motor vehicles of the customers are located in remote locations and need repairs.

(d) This section does not prohibit a manufacturer from allowing a new motor vehicle dealer to subcontract warranty work for a specific new motor vehicle that is located in a remote location. If the manufacturer allows the new motor vehicle dealer to subcontract the warranty work, the manufacturer shall compensate the new motor vehicle dealer for the subcontracted warranty work paid for by the new motor vehicle dealer.

(e) In this section, remote location means a location that is not accessible by road or that is more than 100 road miles from a new motor vehicle dealer that is authorized to perform warranty work on new motor vehicles.
Alaska Stat. § 45.45.905 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.905
Transportation services contracts; indemnification agreements prohibited.
Status: in_force

(a) A motor carrier and a shipping person may not, with regard to a transportation services contract, agree that (1) the motor carrier will indemnify, defend, or hold the shipping person harmless, or agree to a provision that has the effect of indemnifying, defending, or holding a shipping person harmless, from claims or liability for the negligence, intentional acts, or intentional omissions of the shipping person; or

(2) the shipping person will indemnify, defend, or hold the motor carrier harmless, or agree to a provision that has the effect of indemnifying, defending, or holding a motor carrier harmless, from claims or liability for the negligence, intentional acts, or intentional omissions of the motor carrier.

(b) An agreement that violates (a) of this section is against public policy and is void and unenforceable.

(c) This section does not apply to the Uniform Intermodal Interchange and Facilities Access Agreement administered by the Intermodal Association of North America or to another agreement that provides for the interchange, use, or possession of intermodal chassis, intermodal containers, or other intermodal equipment.

(d) In this section, (1) motor carrier means a person who is engaged in the transportation of property for compensation by motor vehicle, and includes an agent, employee, servant, or independent contractor of the motor carrier if the agent, employee, servant, or independent contractor provides services in connection with the particular transportation services contract to which (a) of this section is being applied;

(2) motor vehicle has the meaning given in AS 28.90.990 , except that the motor vehicle must have a gross weight rating or gross combination weight rating that is greater than 10,000 pounds;

(3) shipping person means a person who enters into a transportation services contract to use the services of a motor carrier, and includes an agent, employee, servant, or independent contractor of the shipping person if the agent, employee, servant, or independent contractor provides services in connection with the particular transportation services contract to which (a) of this section is being applied;

(4) transportation services means (A) the transportation of property;

(B) entry on property to load, unload, or transport property; or

(C) providing a service, including the packing or storage of property, incidental to (A) or (B) of this paragraph.
Alaska Stat. § 45.05.103 — AK Code / Title 45 / Chapter 45.05 / Section 45.05.103
Scope.
Status: in_force

(a) This chapter applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit.

(b) The statement of a rule in this chapter does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this chapter.

(c) With the exception of this subsection, (a) and (d) of this section, AS 45.05.102 (a)(9) and (10), 45.05.106(d), and 45.05.114(d), and except to the extent prohibited in AS 45.01.302 and AS 45.05.117 (d), the effect of this chapter may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failure to perform obligations is not sufficient to vary obligations prescribed by this chapter.

(d) Rights and obligations of an issuer to a beneficiary or a nominated person under a letter of credit are independent of the existence, performance, or nonperformance of a contract or arrangement out of which the letter of credit arises or that underlies it, including contracts or arrangements between the issuer and the applicant and between the applicant and the beneficiary.
Alaska Stat. § 45.02.310 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.310
Open time for payment or running of credit; authority to ship under reservation.
Status: in_force

Unless otherwise agreed, (1) payment is due at the time and place at which the buyer is to receive the goods even though the place of shipment is the place of delivery;

(2) if the seller is authorized to send the goods, the seller may ship them under reservation and may tender the documents of title, but the buyer may inspect the goods after their arrival before payment is due unless inspection is inconsistent with the terms of the contract ( AS 45.02.513 );

(3) if delivery is authorized and made by way of documents of title other than by (2) of this section, then payment is due, regardless of where the goods are to be received, at the time (A) and place at which the buyer is to receive delivery of the tangible documents; or

(B) the buyer is to receive delivery of the electronic documents and at the seller's place of business or, if the seller does not have a place of business, the seller's residence; and

(4) if the seller is required or authorized to ship the goods on credit, the credit period runs from the time of shipment, but postdating the invoice or delaying its dispatch correspondingly delays the starting of the credit period.
Alaska Stat. § 45.27.110 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.110
Nonconforming products.
Status: in_force

(a) A manufacturer of a nonconforming product shall, during the original warranty period, pay an authorized dealer to complete factory-recommended warranty repairs, solutions, and procedures to cure factory warranty problems with a nonconforming product. The manufacturer shall make the payment in accordance with the standard warranty service claim procedures and methods of the industry and with AS 45.27.100  45.27.220.

(b) If a part that is necessary to repair a nonconforming product of a nonconformity that is covered under a manufacturer's warranty is not in an authorized dealer's inventory when the nonconforming product is brought to the authorized dealer for repair, the manufacturer of the product shall provide the authorized dealer with the part. The manufacturer shall provide the part as soon as possible and may not charge for freight or handling. This subsection applies to a manufacturer whose products are sold in the state through an authorized dealer.

(c) The manufacturer of a nonconforming product shall pay the cost for transporting a replacement for the nonconforming product from the manufacturer to the authorized dealer who sold the nonconforming product to the ultimate purchaser or the authorized dealer who is located nearest to the ultimate purchaser, whichever of the two authorized dealers the ultimate purchaser chooses. The manufacturer is not required to pay the transportation cost from the authorized dealer to the ultimate purchaser or from the ultimate purchaser to the authorized dealer.

(d) In this section, nonconforming product means a product that has a nonconformity.
Alaska Stat. § 45.08.306 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.306
Effect of guaranteeing signature, endorsement, or instruction.
Status: in_force

(a) A person who guarantees a signature of an endorser of a security certificate warrants that at the time of signing (1) the signature was genuine;

(2) the signer was an appropriate person to endorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and

(3) the signer had legal capacity to sign.

(b) A person who guarantees a signature of the originator of an instruction warrants that at the time of signing (1) the signature was genuine;

(2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, but the signature guarantor does not make a warranty that the person specified in the instruction as the registered owner was, in fact, the registered owner; and

(3) the signer had legal capacity to sign.

(c) A person who specially guarantees the signature of an originator of an instruction makes the warranties of a signature guarantor under (b) of this section and also warrants that at the time the instruction is presented to the issuer (1) the person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and

(2) the transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction.

(d) A guarantor under (a) and (b) of this section or a special guarantor under (c) of this section does not otherwise warrant the rightfulness of the transfer.

(e) A person who guarantees an endorsement of a security certificate makes the warranties of a signature guarantor under (a) of this section and also warrants the rightfulness of the transfer in all respects.

(f) A person who guarantees an instruction requesting the transfer of an uncertificated security makes the warranties of a special signature guarantor under (c) of this section and also warrants the rightfulness of the transfer in all respects.

(g) An issuer may not require a special guarantee of signature, a guarantee of endorsement, or a guarantee of instruction as a condition to registration of transfer.

(h) The warranties under this section are made to a person taking or dealing with the security in reliance on the guarantee, and the guarantor is liable to the person for loss resulting from their breach. An endorser or originator of an instruction whose signature, endorsement, or instruction has been guaranteed is liable to a guarantor for loss suffered by the guarantor as a result of breach of the warranties of the guarantor.
Alaska Stat. § 45.48.660 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.660
Database.
Status: in_force

The department may establish and maintain a database of individuals who have been victims of identity theft and who have received an order under AS 45.48.620 . The department shall provide a victim or the victim's authorized representative access to a database established under this section to establish that the individual has been a victim of identity theft. Access to the database established under this section is limited to criminal justice agencies, victims of identity theft, and individuals and agencies authorized by the victims.
Alaska Stat. § 45.02.350 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.350
Sale by door-to-door solicitation.
Status: in_force

(a) A contract for the purchase of goods or services in the amount of $10 or more from a person soliciting a door-to-door sale shall require, as a condition of taking effect, that the purchaser may revoke the offer to buy within five business days of entering into the contract, and that the seller, at the time of the sale, give the purchaser written notice of the right to revoke. Revocation is effective either upon the tender of the rejected goods to the seller or an agent of the seller, or upon the posting of a registered letter, marked Deliver to Addressee Only, Return Receipt, of rejection to the seller or an agent of the seller.

(b) The cost of returning rejected goods shall be borne by the seller.

(c) A door-to-door sale occurs when the seller, or a representative of the seller, personally solicits the sale and the purchaser's agreement or offer to purchase is made at a place other than the place of business of the seller. The term door-to-door sale does not include a transaction (1) made under prior negotiations in the course of a visit by the buyer to a retail business establishment having a fixed permanent location where the goods are exhibited or the services are offered for sale on a continuing basis;

(2) in which the buyer has initiated the contact and the goods or services are needed to meet a bona fide immediate personal emergency of the buyer;

(3) conducted and consummated entirely by mail;

(4) in which the buyer has initiated the contact and specifically requested the seller to visit the buyer's home for the purpose of repairing or performing maintenance upon the buyer's personal property; or

(5) conducted at the purchaser's place of business.

(d) As used in (c) of this section, personally means in person or by telephone.

Article 4. Title, Creditors, and Good Faith Purchasers.
Alaska Stat. § 45.75.030 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.030
State director and inspectors of weights and measures.
Status: in_force

The commissioner of transportation and public facilities is ex officio state director of weights and measures. The director may appoint state inspectors.
Alaska Stat. § 45.12.401 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.401
Insecurity: adequate assurance of performance.
Status: in_force

(a) A lease contract imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired.

(b) If reasonable grounds for insecurity arise with respect to the performance of either party, the insecure party may demand in writing adequate assurance of due performance. Until the insecure party receives that assurance, if commercially reasonable, the insecure party may suspend any performance for which the insecure party has not already received the agreed return.

(c) A repudiation of the lease contract occurs if assurance of due performance adequate under the circumstances of the particular case is not provided to the insecure party within a reasonable time, not to exceed 30 days after receipt of a demand by the other party.

(d) Between merchants, the reasonableness of grounds for insecurity and the adequacy of any assurance offered must be determined according to commercial standards.

(e) Acceptance of nonconforming delivery or payment does not prejudice the aggrieved party's right to demand adequate assurance of future performance.
Alaska Stat. § 45.29.523 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.523
Information from filing office; sale or license of records.
Status: in_force

(a) If a person who files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record under AS 45.29.519 (a)(1) and the date and time of the filing of the record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead (1) note on the copy the number assigned to the record under AS 45.29.519 (a)(1) and the date and time of the filing of the record; and

(2) send the copy to the person.

(b) If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides (1) the information in the record;

(2) the number assigned to the record under AS 45.29.519 (a)(1); and

(3) the date and time of the filing of the record.

(c) The filing office shall communicate or otherwise make available in a record the following information to a person who requests it: (1) whether there is on file on a date and time specified by the filing office, but not a date earlier than three business days before the filing office receives the request, a financing statement that (A) designates a particular debtor;

(B) has not lapsed under AS 45.29.515 with respect to all secured parties of record; and

(C) if the request so states, has lapsed under AS 45.29.515 and a record of which is maintained by the filing office under AS 45.29.522 (a);

(2) the date and time of filing of each financing statement; and

(3) the information provided in each financing statement.

(d) In complying with its duty under (c) of this section, the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing its written certificate.

(e) The filing office shall perform the acts required by (a)  (d) of this section at the time and in the manner prescribed by filing office regulations but, in the case of a filing office described in AS 45.29.501 (a)(2), not later than two business days after the filing office receives the request.

(f) At least bi-weekly, the filing office described in AS 45.29.501 (a)(2) shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed in it under AS 45.29.501  45.29.525, in every medium from time to time available to the filing office.
Alaska Stat. § 45.56.720 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.720
Rescission offers.
Status: in_force

(a) A purchaser, seller, or recipient of investment advice may not maintain an action under AS 45.56.710 if (1) the purchaser, seller, or recipient of investment advice receives, in a record, before the action is instituted, (A) an offer stating the respect in which liability under AS 45.56.710 may have arisen and fairly advising the purchaser, seller, or recipient of investment advice of that person's rights in connection with the offer and any financial or other information necessary to correct all material misrepresentations or omissions in the information that was required by this chapter to be furnished to that person at the time of the purchase, sale, or investment advice;

(B) if the basis for relief under this section may have been a violation of AS 45.56.710 (b), an offer to repurchase the security for cash, payable on delivery of the security, equal to the consideration paid, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the purchase, less the amount of any income received on the security, or, if the purchaser no longer owns the security, an offer to pay the purchaser, upon acceptance of the offer, damages in an amount that would be recoverable upon a tender, less the value of the security when the purchaser disposed of it, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the purchase in cash equal to the damages computed in the manner provided in this subparagraph;

(C) if the basis for relief under this section may have been a violation of AS 45.56.710 (c), an offer to tender the security, on payment by the seller of an amount equal to the purchase price paid, less income received on the security by the purchaser and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the sale, or, if the purchaser no longer owns the security, an offer to pay the seller, upon acceptance of the offer, in cash, damages in the amount of the difference between the price at which the security was purchased and the value the security would have had at the time of the purchase in the absence of the purchaser's conduct that may have caused liability and interest at the legal rate of interest in AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the sale;

(D) if the basis for relief under this section may have been a violation of AS 45.56.710 (d); and if the customer is a purchaser, an offer to pay as specified in (B) of this paragraph; or, if the customer is a seller, an offer to tender or to pay as specified in (C) of this paragraph;

(E) if the basis for relief under this section may have been a violation of AS 45.56.710 (e), an offer to reimburse in cash the consideration paid for the advice and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of payment; or

(F) if the basis for relief under this section may have been a violation of AS 45.56.710 (f), an offer to reimburse in cash the consideration paid for the advice, the amount of any actual damages that may have been caused by the conduct, and interest at the legal rate of interest under AS 09.30.070 , or eight percent a year, whichever is greater, from the date of the violation causing the loss;

(2) the offer under (1) of this subsection states that it must be accepted by the purchaser, seller, or recipient of investment advice within 30 days after the date of its receipt by the purchaser, seller, or recipient of investment advice or any shorter period of not less than three days that the administrator, by order, specifies;

(3) the offeror has the present ability to pay the amount offered or to tender the security under (1) of this subsection;

(4) the offer under (1) of this subsection is delivered to the purchaser, seller, or recipient of investment advice or sent in a manner that ensures receipt by the purchaser, seller, or recipient of investment advice; and

(5) the purchaser, seller, or recipient of investment advice that accepts the offer under (1) of this subsection, in a record, within the period specified under (2) of this subsection, is paid in accordance with the terms of the offer.

(b) The offer under this section shall be filed with the administrator 10 business days before the offering and conform in form and content with a regulation adopted under this chapter.
Alaska Stat. § 45.55.990 — AK Code / Title 45 / Chapter 45.55 / Section 45.55.990
Definitions.
Status: in_force

In this chapter, unless the context otherwise requires, (1) administrator means the commissioner of commerce, community, and economic development or a designee of the commissioner;

(2) person has the meaning given in AS 45.56.900 .
Alaska Stat. § 45.50.800 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.800
Disclosures to be made by distributors and refiners before conclusion of agreement.
Status: in_force

Before entry into a lease agreement, a refiner or distributor shall disclose to the dealer facts that would reasonably be considered material to the dealer's decision to enter into the lease. These facts must include, but not be limited to, (1) ownership of property of the retail outlet;

(2) if the real property is not owned by a refiner or distributor, then the nature of the relationship between the real property owner and the refiner or distributor and the length of the underlying lease, if applicable;

(3) the last known addresses of dealers operating the retail outlet for the last five years;

(4) the gasoline gallonage history, if any, of the station for the last five years;

(5) any sales goals or quotas the refiners or distributors intend to apply to the station;

(6) the nearest gasoline outlet owned, controlled, or operated by the refiner or distributor and any plans the distributor or refiner has to open new retail outlets within the trade area of the retail outlet; and

(7) any plans the refiner or distributor has for the future of the subject retail outlet.
Alaska Stat. § 45.12.502 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.502
Notice after default.
Status: in_force

Except as otherwise provided in this chapter or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement.
Alaska Stat. § 45.27.100 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.100
Warranty provided.
Status: in_force

A manufacturer shall provide, through the authorized dealer, to the product's ultimate purchaser from an authorized dealer the manufacturer's standard warranty, if any, that is in effect at the time of delivery of the product to the authorized dealer.
Alaska Stat. § 45.02.206 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.206
Offer and acceptance in formation of contract.
Status: in_force

(a) Unless otherwise unambiguously indicated by the language or circumstances (1) an offer to make a contract shall be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances;

(2) an order or other offer to buy goods for prompt or current shipment shall be construed as inviting acceptance either by a prompt promise to ship or by the prompt or current shipment of conforming or nonconforming goods, but a shipment of nonconforming goods does not constitute an acceptance if the seller seasonably notifies the buyer that the shipment is offered only as an accommodation to the buyer.

(b) If the beginning of a requested performance is a reasonable mode of acceptance, an offeror who is not notified of acceptance within a reasonable time may treat the offer as having lapsed before acceptance.
Alaska Stat. § 45.55.960 — AK Code / Title 45 / Chapter 45.55 / Section 45.55.960
Administrative Procedure Act applies.
Status: in_force

AS 44.62 (Administrative Procedure Act) applies to all regulations adopted or authorized under this chapter.
Alaska Stat. § 45.68.015 — AK Code / Title 45 / Chapter 45.68 / Section 45.68.015
Registration fees.
Status: in_force

The registration statement and registration renewal statement filed under AS 45.68.010 (c)(1) and (d) must be accompanied by a registration or registration renewal fee. The department shall establish the amount of the fee by regulation. The fees required by this section are nonrefundable and shall be deposited in the general fund.
Alaska Stat. § 45.56.810 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.810
Electronic records and signatures.
Status: in_force

This chapter modifies, limits, and supersedes 15 U.S.C. 7001  7031 (Electronic Signatures in Global and National Commerce Act), but does not modify, limit, or supersede 15 U.S.C. 7001(c) or authorize electronic delivery of any of the notices described in 15 U.S.C. 7003(b). This chapter authorizes the filing of records and signatures, when specified by provisions of this chapter or by a regulation adopted or order issued under this chapter, in a manner consistent with 15 U.S.C. 7004(a).
Alaska Stat. § 45.04.301 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.301
Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
Status: in_force

(a) If a payor bank settles for a demand item other than a documentary draft presented other than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it (1) returns the item; or

(2) sends written notice of dishonor or nonpayment if the item is unavailable for return.

(b) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke a credit given or recover the amount of the credit withdrawn by its customer if it acts within the time limit and in the manner specified in (a) of this section.

(c) Unless previous notice of dishonor has been sent, an item is dishonored at the time when, for purposes of dishonor, it is returned or notice is sent in accordance with this section.

(d) An item is returned (1) as to an item presented through a clearinghouse, when it is delivered to the presenting or last collecting bank or to the clearinghouse or is sent or delivered in accordance with clearinghouse rules; or

(2) in all other cases, when it is sent or delivered to the bank's customer or transferor or under the instructions of the customer or transferor.
Alaska Stat. § 45.75.300 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.300
Textile products.
Status: in_force

It is unlawful to keep for the purpose of sale, offer or expose for sale, or sell textile yard goods put up or packaged in advance of sale in a bolt or roll, or any other textile product put up or packaged in advance of sale in any other unit, for wholesale or retail sale, unless the bolt or roll, or other unit, is definitely, plainly, and conspicuously marked to show its net measure in terms of yards or its net weight, in terms of avoirdupois pounds or ounces, subject to the following limitations and requirements: (1) a unit of twine or cordage may be marked to show its net measure in terms of feet; readywound bobbins not sold separately are not required to be individually marked, but the package containing the bobbins shall be marked to show the number of bobbins contained in it and the net weight or measure of the thread on each bobbin; a unit of sewing, basting, mending, darning, crocheting, tatting, hand-knitting, or embroidery thread or yarn, except nylon hand-knitting yarn, that is not composed in whole or in part of wool, the net weight of which is less than two ounces avoirdupois, shall be marked to show its net measure in terms of yards as unwound from the ball or from the spool or other holder; a retail unit of a textile product sold only for household use consisting of a package containing two or more similar individual units that are not sold separately shall be marked to show the number of individual units in the package and the net weight or net measure of the product in each individual unit, but this does not apply where the individual units are separately marked; a unit of yarn, composed in whole or in part of wool, sold to consumers for handiwork, shall be marked to show the net weight of the yarn, except that any such unit of tapestry, mending, or embroidery yarn, the net measure of which does not exceed 50 yards, may be marked to show its linear measure only;

(2) the marking required by this section shall in all cases be in combination with the name and place of business of the manufacturer, packer, or distributor of the product, or a trademark, symbol, brand, or other mark that identifies the manufacturer, packer, or distributor;

(3) reasonable tolerances shall be permitted, and these must be included in regulations for the enforcement of this section that are adopted by the director;

(4) this section does not apply to the following textile products when sold at wholesale in bulk by net weight: cordage, agricultural bag sewing threads, twines, yarns that are to be processed, and yarns that are to be industrially converted into end-use products.
Alaska Stat. § 45.81.210 — AK Code / Title 45 / Chapter 45.81 / Section 45.81.210
Small business loans.
Status: reserved

(a) The commissioner shall, under regulations and policies adopted by the commissioner, make small business loans to acquire, finance, or refinance or equip businesses, including farming, mining, and fishing, not exceeding $500,000. The loans shall be secured by acceptable collateral and may not exceed 75 percent of the appraised value of the collateral offered as security. The rate of interest may not exceed nine and one-half percent a year on the unpaid balance. For the purposes of this subsection business equipment includes, but is not limited to, fire protection systems approved under AS 18.70.081 and farming equipment.

(b) [Repealed, § 14 ch 122 SLA 1980.] (c) [Repealed, § 108 ch 59 SLA 1982.] (d) Money loaned shall be delivered to the borrower as provided in AS 37.25.050 , vouchered in the manner prescribed for state disbursing officers, and charged against the small business revolving loan fund. Each voucher shall be approved by the commissioner or a bonded deputy authorized to act as a certifying officer. Upon repayment of loans by installments, or otherwise, in accordance with the prescribed terms, or upon liquidation by foreclosure or other process, or upon receipt of interest, the money so received shall be turned over to the commissioner of revenue for deposit in the small business revolving loan fund.

(e) The commissioner may not disqualify an applicant for, or prejudice an applicant's privilege to receive, a loan to purchase and install a fire protection system solely because of a loan already made to the applicant under AS 45.81.200  45.81.290.
Alaska Stat. § 45.25.620 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.620
Service contracts.
Status: in_force

(a) A motor vehicle service contract must be in writing and contain all essential provisions regarding the administration of the contract.

(b) If a service contract is included in a motor vehicle sale, the seller shall, before delivery of the motor vehicle, give to the buyer a written statement with all pertinent blank spaces filled in that shall be signed by both the buyer and seller and that clearly and conspicuously (1) explains the difference between a service contract and a warranty;

(2) discloses the maker of or obligor on the service contract;

(3) describes the relationship between the maker and the seller of the service contract;

(4) for a vehicle that is a used vehicle, notifies the buyer that the seller may not disclaim implied warranties if the seller is the maker or obligor of the service contract; and

(5) includes all other disclosures required by law.

(c) A motor vehicle dealer may not disclaim or limit implied warranties for a motor vehicle for which the motor vehicle dealer is a maker of a service contract sold for that motor vehicle. However, a motor vehicle dealer may disclaim or limit implied warranties as otherwise allowed by law, regardless of the make or model of the motor vehicle, if the motor vehicle dealer is merely the seller, not the maker, of the service contract and does not otherwise extend any written warranties on the motor vehicle that is purchased.

(d) In this section, maker means the person that makes, frames, and executes a service contract and assumes any obligation due to the buyer, but does not include a motor vehicle dealer who merely sells the service contract as the agent of a service contract company doing business in this state.
Alaska Stat. § 45.50.536 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.536
Mediation.
Status: in_force

Notwithstanding the other provisions of AS 45.50.471  45.50.561, a civil action under AS 45.50.531 or 45.50.535 may be submitted to mediation under the Alaska Rules of Civil Procedure. The mediation must begin within 30 days after the court's order for mediation. During mediation, the court may, if it is determined appropriate by the court, enjoin the defendant from engaging in the act or practice that is the subject of the civil action.
Alaska Stat. § 45.27.050 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.050
Repurchase obligations on cancellation or nonrenewal.
Status: in_force

(a) On the cancellation or nonrenewal of a dealership agreement by a manufacturer without satisfying the requirements under AS 45.27.020 , the manufacturer shall repurchase from the authorized dealer's inventory (1) each new and unused product of the manufacturer that is a current product model, or the product model from the previous year; and

(2) each product part that (A) was purchased from the manufacturer by the authorized dealer;

(B) is listed in the manufacturer's parts price books in the previous two years; and

(C) has not been damaged or substantially altered to the prejudice of the manufacturer while in the possession of the authorized dealer.

(b) Within 90 days after the effective date of the cancellation or nonrenewal, the authorized dealer shall return the property required by (a) of this section to be repurchased to the manufacturer at the manufacturer's expense. The manufacturer shall pay the compensation for the property within 60 days after the tender of inventory and other items if the authorized dealer has clear title to the property and is in a position to convey that title to the manufacturer. If the property is subject to a security interest, the manufacturer may make the payments jointly to the authorized dealer and the holder of the security interest, and the manufacturer may offset the payment.

(c) The amount of a repurchase required by (a) of this section must be based on the authorized dealer's landed cost, subject to adjustments to landed costs for quarterly or annual purchase rebates and credits given to the authorized dealer on the products or product parts.

Article 2. Product Warranties.
Alaska Stat. § 45.04.212 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.212
Presentment by notice of item not payable by, through, or at a bank; liability of drawer or endorser.
Status: in_force

(a) Unless otherwise instructed, a collecting bank may present an item not payable by, through, or at a bank by sending to the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the party to accept or pay under AS 45.03.501 by the close of the bank's next banking day after it knows of the requirement.

(b) If presentment is made by notice, and payment, acceptance, or request for compliance with a requirement under AS 45.03.501 is not received by the close of business on the day after maturity or, in the case of demand items, by the close of business on the third banking day after notice was sent, the presenting bank may treat the item as dishonored and charge a drawer or endorser by sending the drawer or endorser notice of the facts.
Alaska Stat. § 45.29.608 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.608
Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
Status: in_force

(a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) a secured party shall apply or pay over for application the cash proceeds of collection or enforcement under AS 45.29.607 in the following order to (A) the reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney fees and legal expenses incurred by the secured party;

(B) the satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and

(C) the satisfaction of obligations secured by a subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives an authenticated demand for proceeds before distribution of the proceeds is completed;

(2) if requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time; unless the holder complies, the secured party need not comply with the holder's demand under (1)(C) of this subsection;

(3) a secured party need not apply or pay over for application noncash proceeds of collection and enforcement under AS 45.29.607 unless the failure to do so would be commercially unreasonable; a secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner;

(4) a secured party shall account to and pay a debtor for any surplus, and the obligor is liable for any deficiency.

(b) If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency.
Alaska Stat. § 45.81.050 — AK Code / Title 45 / Chapter 45.81 / Section 45.81.050
Definition.
Status: in_force

For purposes of AS 45.81.010  45.81.050, department means the Department of Commerce, Community, and Economic Development.
Alaska Stat. § 45.45.040 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.040
Usurious rate as working forfeiture of entire interest.
Status: in_force

If, in an action brought on a contract, the court determines that a rate of interest has been contracted for greater than is authorized by AS 45.45.010  45.45.070, either directly or indirectly, in money, property, or other valuable thing, or that a gift or donation of money, property, or other valuable thing has been made or promised to be made to a lender or creditor, or to a person for the lender or creditor, directly or indirectly, by the borrower or debtor, or a person for the borrower or debtor, the design of which is to obtain for money so loaned, or for debts due or to become due, a rate of interest greater than that specified by AS 45.45.010  45.45.070, the rate of interest is usurious and works a forfeiture of the entire interest on the debt. The court shall give judgment for the amount due, without interest, on the sum loaned or the debt contracted, against the defendant and in favor of the plaintiff and against the plaintiff for costs of action, whether the action is contested or not.
Alaska Stat. § 45.12.406 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.406
Procedure on excused performance.
Status: in_force

(a) If the lessee receives notification of a material or indefinite delay or an allocation justified under AS 45.12.405 , the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired under AS 45.12.510 , (1) terminate the lease contract ( AS 45.12.505 (b)); or

(2) except in a finance lease that is not a consumer lease, modify the lease contract by accepting the available quota in substitution, with due allowance from the rent payable for the balance of the lease term for the deficiency but without further right against the lessor.

(b) If, after receipt of a notification from the lessor under AS 45.12.405 , the lessee fails to modify the lease agreement as provided in (a)(2) of this section within a reasonable time not exceeding 30 days, the lease contract lapses with respect to deliveries affected.
Alaska Stat. § 45.10.150 — AK Code / Title 45 / Chapter 45.10 / Section 45.10.150
Nonwaiver of chapter.
Status: in_force

No act or agreement of the retail buyer before or at the time of the making of a retail installment contract, retail charge agreement, or purchases under the contract or agreement constitutes a valid waiver of any of the provisions of this chapter or of any remedies granted to the buyer by law.
Alaska Stat. § 45.45.459 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.459
Definitions.
Status: in_force

In AS 45.45.450  45.45.459, (1) car means a motor vehicle;

(2) licensing cost means the cost of titling, registering, obtaining license plates for, or inspection of the rental cars of a rental car business in the state;

(3) motor vehicle has the meaning given in AS 28.90.990 ;

(4) rental car business means a person who engages in the business of renting cars in the state;

(5) vehicle licensing cost recovery fee means a fee to recover licensing costs.

Article 9. Copyright Royalties and Licensing.
Alaska Stat. § 45.66.160 — AK Code / Title 45 / Chapter 45.66 / Section 45.66.160
Unwarranted conclusions.
Status: in_force

(a) Acknowledgment of registration by the department under AS 45.66.020 (c) does not constitute a finding by the department that a document filed with the department under this chapter is true, complete, or not misleading.

(b) Acknowledgment of registration by the department under AS 45.66.020 (c) does not mean that the department has evaluated the merits or qualifications of the seller or business opportunity, or that the department recommends or approves a seller or the business opportunity.

(c) Availability of an exemption under AS 45.66.220 for a seller does not mean that the department recommends or approves the seller or the business opportunity.
Alaska Stat. § 45.29.509 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.509
Persons entitled to file a record.
Status: in_force

(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if (1) the debtor authorizes the filing in an authenticated record or pursuant to (b) or (c) of this section; or

(2) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.

(b) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement and an amendment covering (1) the collateral described in the security agreement; and

(2) property that becomes collateral under AS 45.29.315 (a)(2), whether or not the security agreement expressly covers proceeds.

(c) By acquiring collateral in which a security interest or agricultural lien continues under AS 45.29.315 (a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under AS 45.29.315 (a)(2).

(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if (1) the secured party of record authorizes the filing; or

(2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement required under AS 45.29.513 (a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.

(e) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under (d) of this section.
Alaska Stat. § 45.45.790 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.790
Definitions.
Status: in_force

In AS 45.45.700  45.45.790, (1) dealer means a person who enters into a distributorship agreement and who, under the agreement, receives merchandise or services from a distributor;

(2) distributor means a person who enters into a distributorship agreement and who, under the agreement, provides merchandise or services to a dealer; the term includes (A) a wholesaler;

(B) a manufacturer;

(C) a person that is a parent corporation or an affiliated corporation of a person identified in (A) or (B) of this paragraph; and

(D) a field representative, an officer, an agent, or another direct or indirect representative of a person identified in (A), (B), or (C) of this paragraph;

(3) distributorship agreement means an agreement, whether express, implied, oral, or written, between two or more persons (A) by which a person receives the right to (i) sell or lease merchandise or services at retail or wholesale; or

(ii) use a trade name, trademark, service mark, logotype, advertising, or other commercial symbol; and

(B) in which the parties to the agreement have a joint interest, whether equal or unequal, in the offering, selling, or leasing of the merchandise or services;

(4) merchandise includes parts and accessories;

(5) terminate includes failing to renew.

Article 12. Deceptive Acts or Practices Relating to Spyware.
Alaska Stat. § 45.55.935 — AK Code / Title 45 / Chapter 45.55 / Section 45.55.935
Hearings.
Status: reserved

(a) The administrator shall adopt regulations, consistent with the provisions of this chapter and with regulations adopted under AS 44.64.060 , governing administrative hearings conducted by the office of administrative hearings ( AS 44.64.010 ) for orders issued under AS 45.55.920 .

(b) [Repealed, § 29 ch. 65 SLA 2018.]
Alaska Stat. § 45.14.201 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.201
Security procedure.
Status: in_force

(a) In this chapter, security procedure means a procedure established by agreement of a customer and a receiving bank for the purpose of (1) verifying that a payment order or communication amending or canceling a payment order is that of the customer; or

(2) detecting error in the transmission or the content of the payment order or communication.

(b) A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, call-back procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.
Alaska Stat. § 45.27.210 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.210
Exceptions.
Status: in_force

An ultimate purchaser may not receive a refund for or replacement of a product under AS 45.27.190  45.27.220 if the manufacturer shows that the problem or condition because of which the ultimate purchaser is claiming a refund or a replacement (1) is not a nonconformity; or

(2) is a nonconformity that resulted from (A) alteration of the product by the ultimate purchaser, or by a person who is not the authorized dealer or otherwise authorized by the manufacturer or distributor to make the alteration; or

(B) abuse or neglect by the ultimate purchaser or another person other than the authorized dealer.