Alaska Stat. § 45.03.602 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.602
Payment.
Status: in_force

(a) Subject to (b) of this section, an instrument is paid to the extent payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under AS 45.03.306 by another person.

(b) The obligation of a party to pay the instrument is not discharged under (a) of this section if (1) a claim to the instrument under AS 45.03.306 is enforceable against the party receiving payment and (A) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction; or

(B) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or

(2) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.
Alaska Stat. § 45.45.090 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.090
Applicability of other laws.
Status: in_force

No law of this state prescribing or limiting interest rates upon loans applies to loans made under AS 45.45.080 .
Alaska Stat. § 45.01.307 — AK Code / Title 45 / Chapter 45.01 / Section 45.01.307
Prima facie evidence by third-party documents.
Status: in_force

A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or another document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.
Alaska Stat. § 45.45.335 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.335
Resale without disclosure prohibited.
Status: in_force

A motor vehicle returned under AS 45.45.305 may not be resold by the manufacturer or distributor in the state unless full disclosure of the reason for the return is made to the prospective buyer before the resale is concluded.
Alaska Stat. § 45.53.010 — AK Code / Title 45 / Chapter 45.53 / Section 45.53.010
Tobacco product Master Settlement Agreement recognized.
Status: in_force

The Master Settlement Agreement entered into by certain United States tobacco product manufacturers and the state, and related documents, for settlement of claims raised in State of Alaska v. Philip Morris, Incorporated, and approved by the Alaska Superior Court on February 9, 1999, are recognized.
Alaska Stat. § 45.45.120 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.120
Disclosure of costs.
Status: in_force

Every person performing or arranging for services or providing merchandise relating to the disposition of a dead human body shall give to the person arranging for the disposition at the time the arrangements are completed and before the time of rendering the service or providing the merchandise a written statement showing, to the extent then reasonably ascertainable, (1) the price and what is included with specific prices for at least each of the following: (A) transfer of remains to funeral home;

(B) embalming;

(C) use of facilities for viewing;

(D) use of facilities for funeral service;

(E) caskets, with a notation that a separate casket price list will be provided before any sales presentation for caskets is made;

(F) hearse;

(G) limousine;

(H) services of funeral director and staff;

(I) outer interment receptacles; if outer interment receptacles are sold, a notation that a separate outer interment receptacle price list will be provided before any sales presentation for such items is made;

(2) the price of each supplemental item of service or merchandise;

(3) the amount involved for each of the items for which money will be advanced; an item for which money is advanced shall be charged in the same amount as the cost to the person making the advance;

(4) the method of payment;

(5) the fee for counseling, consulting, or arranging for future services relating to the disposition of a dead human body.

Article 5. Regulation of Motor Vehicle Repairs.
Alaska Stat. § 45.53.020 — AK Code / Title 45 / Chapter 45.53 / Section 45.53.020
Requirements.
Status: in_force

(a) Any tobacco product manufacturer selling cigarettes to consumers within the state, whether directly or through a distributor, retailer, or similar intermediary or intermediaries, after June 4, 1999, shall do one of the following: (1) become a participating manufacturer, as that term is defined in sec. II(jj) of the Master Settlement Agreement, and generally perform its financial obligations under the Master Settlement Agreement; or

(2) place into a qualified escrow fund by April 15 of the year following each listed calendar year the following amounts, as such amounts are adjusted for inflation: (A) for 1999, $.0094241 per unit sold on or after June 4, 1999, but before January 1, 2000;

(B) for 2000, $.0104712 per unit sold during that year;

(C) for each of 2001 and 2002, $.0136125 per unit sold during the year in question;

(D) for each of 2003 through 2006, $.0167539 per unit sold during the year in question;

(E) for each of 2007 and each year thereafter, $.0188482 per unit sold during the year in question.

(b) A tobacco product manufacturer that places money into escrow under (a)(2) of this section is entitled to receive the interest or other appreciation on such money as earned. Such money itself shall be released from escrow only under the following circumstances: (1) to pay a judgment or settlement on a released claim brought against such tobacco product manufacturer by this state or a releasing party located or residing in this state; the funds shall be released from escrow under this paragraph in the order in which they were placed into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement;

(2) to the extent that the tobacco product manufacturer establishes that the amount that it was required to place into escrow on account of units sold in the state in a particular year was greater than the Master Settlement Agreement payments, as determined under sec. IX(i) of the Master Settlement Agreement, including, after final determination of all adjustments, payments that the manufacturer would have been required to make on account of those units had it been a participating manufacturer, the excess shall be released from escrow and revert back to that tobacco product manufacturer; or

(3) to the extent not released from escrow under (1) or (2) of this subsection, funds placed into escrow shall be released from escrow and revert back to the tobacco product manufacturer 25 years after the date on which they were placed into escrow.

(c) To be a qualified escrow fund under this section, the (1) fund must be an escrow fund governed by an escrow arrangement with a federally or state chartered financial institution having no affiliation with a tobacco product manufacturer and having assets of at least $1,000,000,000; and

(2) escrow arrangements described in (1) of this subsection must (A) require that the financial institution hold the principal of the escrow fund for the benefit of releasing parties; and

(B) prohibit the tobacco product manufacturer that places money into the escrow fund from using, accessing, or directing the use of the principal of the fund except as consistent with this section.
Alaska Stat. § 45.02.403 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.403
Power to transfer; good faith purchase of goods; entrusting.
Status: in_force

(a) A purchaser of goods acquires all title that the transferor had or had power to transfer, except that a purchaser of a limited interest acquires rights only to the extent of the interest purchased. A person with voidable title has power to transfer a good title to a good faith purchaser for value. When goods have been delivered under a transaction of purchase, the purchaser has such power even though (1) the transferor was deceived as to the identity of the purchaser;

(2) the delivery was in exchange for a check that was later dishonored;

(3) it was agreed that the transaction was to be a cash sale; or

(4) the delivery was procured through fraud punishable as larcenous under the criminal law.

(b) An entrusting of possession of goods to a merchant who deals in goods of that kind gives the merchant power to transfer all rights of the entruster to a buyer in ordinary course of business.

(c) Entrusting includes a delivery and an acquiescence in retention of possession regardless of a condition expressed between the parties to the delivery or acquiescence and regardless of whether the procurement of the entrusting or the possessor's disposition of the goods is larcenous under the criminal law.

(d) The rights of other purchasers of goods and of lien creditors are governed by AS 45.07 and AS 45.29 .

Article 5. Performance.
Alaska Stat. § 45.27.150 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.150
Basis for reimbursements.
Status: in_force

(a) A manufacturer shall use the criteria established in this section to reimburse an authorized dealer for all approved warranty service work performed by the authorized dealer.

(b) If the technician performing the warranty service work meets the certification standards in the dealership agreement, a manufacturer shall pay to a servicing authorized dealer warranty work labor rates that (1) are not less than the highest of the following: (A) the rate the authorized dealer customarily charges to a customer for nonwarranty service work;

(B) the manufacturer's printed flat rate; or

(C) the rate established by a flat rate manual for dealers, if the manual is produced for dealers by a nationally respected industry consultant; and

(2) include time for clean-up, preparation, diagnosis, disassembly, repair, assembly, testing, and final cleaning as needed to provide a quality result and customer satisfaction.

(c) In addition to the payment under (b) of this section, the manufacturer shall reimburse an authorized dealer a minimum of one hour at the authorized dealer's shop standard labor rate for the administration of each warranty claim.

(d) A manufacturer shall reimburse the authorized dealer for product parts in the authorized dealer's inventory at the current manufacturer's full suggested retail price.
Alaska Stat. § 45.29.507 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.507
Effect of certain events on effectiveness of financing statement.
Status: in_force

(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues even if the secured party knows of or consents to the disposition.

(b) Except as otherwise provided in (c) of this section and AS 45.29.508 , a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under AS 45.29.506 .

(c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under AS 45.29.503 (a) so that the financing statement becomes seriously misleading under AS 45.29.506 , the financing statement is (1) effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and

(2) not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement that renders the financing statement not seriously misleading is filed within four months after the financing statement becomes seriously misleading.
Alaska Stat. § 45.88.190 — AK Code / Title 45 / Chapter 45.88 / Section 45.88.190
Definitions.
Status: reserved

In AS 45.88.010  45.88.190, (1) commissioner means the commissioner of commerce, community, and economic development;

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

(3) energy audit means (A) [Repealed, § 10 ch 79 SLA 1983.] (B) an energy audit performed under § 215(b)(1)(A) of the federal residential energy conservation program of the National Energy Conservation Policy Act (42 U.S.C. 8216(b)(1)(A)); or

(C) an energy audit completed before July 1, 1980, that has been approved by the commissioner as an audit that fairly demonstrates the energy consumption characteristics of a residence and that indicates likely energy conservation and cost savings measures;

(4) energy conservation improvement means (A) structural insulation;

(B) thermal windows and doors;

(C) a furnace replacement burner designed to achieve a reduction in the amount of fuel consumed as a result of increased combustion efficiency;

(D) a device for modifying flue openings designed to increase the efficiency of operation of the heating system;

(E) an electrical or mechanical furnace ignition system which replaces a gas pilot light;

(F) an automatic energy-saving setback thermostat;

(G) a meter which displays the cost of energy usage;

(H) caulking and weatherstripping of doors and windows;

(I) insulating shades and shutters;

(J) air and water recuperators;

(K) any other energy-saving device approved by the commissioner.
Alaska Stat. § 45.56.100 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.100
Securities registration requirement.
Status: in_force

A person may not offer or sell a security in this state unless (1) the security is a federal covered security;

(2) the security is registered under this chapter; or

(3) the security or transaction is exempt from registration under AS 45.56.110  45.56.160.
Alaska Stat. § 45.45.530 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.530
Prohibited practices.
Status: in_force

(a) A performing rights society, or an agent or employee of a performing rights society, may not collect or attempt to collect a royalty payment or another fee from a business proprietor licensed by the performing rights society, unless the collection or collection attempt is made under a contract entered into in accordance with AS 45.45.500  45.45.590.

(b) An agent or employee of a performing rights society may not enter a business proprietor's premises to discuss a contract for the performance of copyrighted works or payment of royalties unless the agent or employee immediately discloses the purpose of the discussion and that the agent or employee is an agent or employee of a performing rights society.
Alaska Stat. § 45.12.101 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.101
Short title.
Status: in_force

This chapter may be cited as the Uniform Commercial Code  Leases.
Alaska Stat. § 45.50.535 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.535
Private injunctive relief.
Status: in_force

(a) Subject to (b) of this section and in addition to any right to bring an action under AS 45.50.531 or other law, any person who was the victim of the unlawful act, whether or not the person suffered actual damages, may bring an action to obtain an injunction prohibiting a seller or lessor from continuing to engage in an act or practice declared unlawful under AS 45.50.471 .

(b) A person may not bring an action under (a) of this section unless (1) the person first provides written notice to the seller or lessor who engaged in the unlawful act or practice that the person will seek an injunction against the seller or lessor if the seller or lessor fails to promptly stop the unlawful act or practice; and

(2) the seller or lessor fails to promptly stop the unlawful act or practice after receiving the notice.
Alaska Stat. § 45.04.104 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.104
Definitions and index of definitions.
Status: reserved

(a) In this chapter, unless the context otherwise requires, (1) account means a deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

(2) afternoon means the period of a day between noon and midnight;

(3) banking day means that part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;

(4) clearinghouse means an association of banks or other payors regularly clearing items;

(5) customer means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;

(6) documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities under AS 45.08.102 , instructions for uncertificated securities under AS 45.08.102 , or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;

(7) draft means a draft as defined in AS 45.03.104 or an item, other than an instrument, that is an order;

(8) drawee means a person ordered in a draft to make payment;

(9) item means an instrument or a promise or order to pay money handled by a bank for collection or payment; the term does not include a credit or debit card slip;

(10) midnight deadline with respect to a bank is midnight on its next banking day following the banking day on which it receives the relevant item or notice, or from which the time for taking action commences to run, whichever is later;

(11) settle means to pay in cash, by clearinghouse settlement, in a charge or credit or by remittance, or otherwise as agreed; a settlement may be either provisional or final;

(12) suspends payments with respect to a bank means that it has been closed by order of the supervisory authorities, that a public officer has been appointed to take it over, or that it ceases or refuses to make payments in the ordinary course of business.

(b) Other definitions applying to this chapter and the sections in which the definitions appear are: (1) agreement for electronic presentment in AS 45.04.110 ;

(2) bank in AS 45.04.105 ;

(3) collecting bank in AS 45.04.105 ;

(4) depositary bank in AS 45.04.105 ;

(5) intermediary bank in AS 45.04.105 ;

(6) payor bank in AS 45.04.105 ;

(7) presenting bank in AS 45.04.105 ;

(8) presentment notice in AS 45.04.110 .

(c) The following definitions in AS 45.03 apply to this chapter: (1) acceptance ( AS 45.03.409 );

(2) alteration ( AS 45.03.407 );

(3) cashier's check ( AS 45.03.104 );

(4) certificate of deposit ( AS 45.03.104 );

(5) certified check ( AS 45.03.409 );

(6) check ( AS 45.03.104 );

(7) control ( AS 45.07.116 );

(8) [Repealed, § 113 ch 44 SLA 2009.] (9) holder in due course ( AS 45.03.302 );

(10) instrument ( AS 45.03.104 );

(11) notice of dishonor ( AS 45.03.503 );

(12) order ( AS 45.03.103 );

(13) ordinary care ( AS 45.03.103 );

(14) person entitled to enforce ( AS 45.03.301 );

(15) presentment ( AS 45.03.501 );

(16) promise ( AS 45.03.103 );

(17) prove ( AS 45.03.103 );

(18) teller's check ( AS 45.03.104 );

(19) unauthorized signature ( AS 45.03.403 ).

(d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Alaska Stat. § 45.10.010 — AK Code / Title 45 / Chapter 45.10 / Section 45.10.010
The contract document.
Status: in_force

(a) A retail installment contract must be contained in a single document. The document must contain the entire agreement of the parties including promissory notes and other evidences of indebtedness between the parties relating to the transaction, except as provided in AS 45.10.040 , 45.10.050, and 45.10.100.

(b) If the buyer's obligation to pay the time balance is represented by a promissory note secured by a chattel mortgage, a provision of the mortgage by which the buyer undertakes to do something besides pay a sum certain in money is considered to be contained in a separate document for the purpose of determining the negotiability of the note unless the provision is expressly incorporated in the note by reference to the provision of the mortgage.

(c) The contract must be dated, signed by the retail buyer, and completed as to all essential provisions, except as otherwise provided in AS 45.10.050 and 45.10.060.
Alaska Stat. § 45.48.630 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.630
Orders regarding records.
Status: in_force

After a court issues an order under AS 45.48.620 , the court may order the name and associated personal information of the victim of identity theft that is contained in the files, indexes, and other records of the court that are accessible by the public labeled to show that the name and personal information of the victim of identity theft is incorrect.
Alaska Stat. § 45.12.301 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.301
Enforceability of lease contract.
Status: in_force

Except as otherwise provided in this chapter, a lease contract is effective and enforceable according to its terms between the parties, against purchasers of the goods, and against creditors of the parties.
Alaska Stat. § 45.65.200 — AK Code / Title 45 / Chapter 45.65 / Section 45.65.200
Artists and art dealer relationships.
Status: in_force

(a) When an artist delivers or causes to be delivered a work of art of the artist's own creation to an art dealer for the purpose of sale, or exhibition and sale, on a commission, fee, or other basis of compensation, the acceptance of the work of art by the art dealer is a consignment, and (1) the art dealer is, with respect to the work of art, the agent of the artist;

(2) the work of art is trust property in the hands of the art dealer for the benefit of the artist;

(3) proceeds from the sale of the work of art are trust funds in the hands of the art dealer for the benefit of the artist;

(4) the art dealer shall return an unsold work of art on demand of the artist;

(5) the art dealer is strictly liable for loss or damage to a work of art while the work of art is in the possession of the art dealer; the value of a lost or damaged work of art is the value established by written agreement between the artist and art dealer before the loss or damage of the work of art; if no written agreement establishing the value of the work of art exists, the value is the fair market value of the work of art less the art dealer's commission or fee; and

(6) the dealer shall transmit the proceeds to the artist within 30 days of receipt by the dealer; if the sale is on installment, the money from each installment shall first be applied to pay any balance due the artist on the sale, unless the artist expressly agrees in writing that the proceeds on each installment are to be paid according to a percentage established by the consignment agreement.

(b) A work of art initially received as a consignment remains trust property notwithstanding the subsequent purchase of the artwork by the art dealer directly or indirectly for the art dealer's own account until the consignment price due to the artist is paid in full. The trusteeship continues until the fiduciary obligation of the art dealer with respect to the transaction is discharged in full.
Alaska Stat. § 45.12.404 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.404
Substituted performance.
Status: in_force

(a) If without fault of the lessee, the lessor, and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.

(b) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation (1) the lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and

(2) if delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee's obligation unless the regulation is discriminatory, oppressive, or predatory.
Alaska Stat. § 45.29.201 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.201
General effectiveness of security agreement.
Status: in_force

(a) Except as otherwise provided in the code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.

(b) A transaction subject to this chapter is subject to (1) an applicable rule of law that establishes a different rule for consumers;

(2) another statute or regulation that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit; and

(3) consumer protection statutes or regulations.

(c) In case of conflict between this chapter and a rule of law, statute, or regulation described in (b) of this section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in (b) of this section has only the effect the statute or regulation specifies.

(d) This chapter does not (1) validate a rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in (b) of this section; or

(2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
Alaska Stat. § 45.29.101 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.101
Short title.
Status: in_force

This chapter may be cited as Uniform Commercial Code  Secured Transactions.
Alaska Stat. § 45.02.718 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.718
Liquidation or limitation of damages; deposits.
Status: in_force

(a) Damages for breach by either party may be liquidated in the agreement but only at an amount that is reasonable in the light of the anticipated or actual harm caused by the breach, the difficulties of proof of loss, and the inconvenience or nonfeasibility of otherwise obtaining an adequate remedy. A term fixing unreasonably large liquidated damages is void as a penalty.

(b) If the seller justifiably withholds delivery of goods because of the buyer's breach, the buyer is entitled to restitution of an amount by which the sum of the buyer's payments exceeds (1) the amount to which the seller is entitled by virtue of terms liquidating the seller's damages in accordance with (a) of this section, or

(2) in the absence of those terms, 20 percent of the value of the total performance for which the buyer is obligated under the contract or $500, whichever is smaller.

(c) The buyer's right to restitution under (b) of this section is subject to offset to the extent that the seller establishes (1) a right to recover damages under this chapter other than (a) of this section, and

(2) the amount or value of benefits received by the buyer directly or indirectly by reason of the contract.

(d) If a seller has received payment in goods, their reasonable value or the proceeds of their resale shall be treated as payments for the purposes of (b) of this section; but, if the seller has notice of the buyer's breach before reselling goods received in part performance, the resale is subject to the conditions laid down on resale by an aggrieved seller ( AS 45.02.706 ).
Alaska Stat. § 45.02.105 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.105
Definitions: transferability; goods; future goods; lot; commercial unit.
Status: in_force

(a) Goods means all things, including specially manufactured goods, that are movable at the time of identification to the contract for sale other than the money in which the price is to be paid, investment securities ( AS 45.08 ), and things in action. Goods also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty ( AS 45.02.107 ).

(b) Goods must be both existing and identified before an interest in them can pass. Goods that are not both existing and identified are future goods. A purported present sale of future goods or of an interest in future goods operates as a contract to sell.

(c) There may be a sale of a part interest in existing identified goods.

(d) An undivided share in an identified bulk of fungible goods is sufficiently identified to be sold although the quantity of the bulk is not determined. Any agreed proportion of the bulk or a quantity of the bulk agreed upon by number, weight, or other measure may, to the extent of the seller's interest in the bulk, be sold to the buyer, who then becomes an owner in common.

(e) Lot means a parcel or a single article that is the subject matter of a separate sale or delivery, whether or not it is sufficient to perform the contract.

(f) Commercial unit means such a unit of goods as by commercial usage is a single whole for purposes of sale and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article (as a machine), or a set of articles (as a suite of furniture or an assortment of sizes), or a quantity (as a bale, gross, or carload), or any other unit treated in use or in the relevant market as a single whole.
Alaska Stat. § 45.29.622 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.622
Effect of acceptance of collateral.
Status: in_force

(a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures (1) discharges the obligation to the extent consented to by the debtor;

(2) transfers to the secured party all of a debtor's rights in the collateral;

(3) discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and

(4) terminates any other subordinate interest.

(b) A subordinate interest is discharged or terminated under (a) of this section, even if the secured party fails to comply with this chapter.
Alaska Stat. § 45.77.020 — AK Code / Title 45 / Chapter 45.77 / Section 45.77.020
Definitions.
Status: in_force

In this chapter, (1) foreign trade zone means a foreign trade zone established under 19 U.S.C. secs. 81a  81u (Foreign Trade Zones Act), as amended, or any laws of the United States enacted as replacements for those provisions;

(2) private corporation means a corporation, other than a public corporation, formed under the laws of the State of Alaska for the purpose of establishing, operating, and maintaining a foreign trade zone;

(3) public corporation means the State of Alaska, a political subdivision of the state, a public authority, commission, agency, or corporate instrumentality of the state or of a political subdivision of the state, or any combination of these entities.
Alaska Stat. § 45.45.600 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.600
Express warranty required.
Status: in_force

A manufacturer who sells an assistive technology device or a mobility aid to a consumer, either directly or through a dealer, shall furnish the consumer with an express warranty stating that the assistive technology device or mobility aid is free from any nonconformity. The duration of the express warranty shall be not less than one year after first delivery of the assistive technology device or mobility aid to a consumer. If a manufacturer fails to furnish an express warranty as required by this section, the assistive technology device or mobility aid shall be covered by the express warranty as if the manufacturer had furnished an express warranty to the consumer as required by this section.
Alaska Stat. § 45.35.070 — AK Code / Title 45 / Chapter 45.35 / Section 45.35.070
Advertisement.
Status: in_force

(a) If an advertisement for a lease-purchase agreement refers to or states the dollar amount of a payment and the right to acquire ownership of a specific item of personal property, the advertisement must also clearly and conspicuously state each of the following items that is applicable: (1) that the advertised transaction is a lease-purchase agreement;

(2) the total amount to be paid to acquire ownership of the item; and

(3) that the consumer will not acquire ownership rights in the item until the consumer pays the total amount to be paid to acquire ownership of the item.

(b) The owner and the employees of a communications medium in which an advertisement covered by (a) of this section appears or through which the advertisement is disseminated is not liable for a failure of a lessor to comply with (a) of this section.

(c) The requirements of (a) of this section do not apply to an advertisement that is published in the yellow pages of a telephone directory or another similar business directory.
Alaska Stat. § 45.25.180 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.180
New dealerships.
Status: in_force

(a) Before a manufacturer or distributor enters into a franchise establishing or relocating a new motor vehicle dealer within a relevant market area where the same line make is represented, the manufacturer or distributor shall give 90 days' written notice to each new motor vehicle dealer of the same line make in the relevant market area of the intention to establish an additional new motor vehicle dealer or to relocate an existing new motor vehicle dealer within that relevant market area.

(b) Within 30 days after receiving the notice required under (a) of this section or within 30 days after the end of any appeal procedure provided by the manufacturer or distributor, a new motor vehicle dealer may bring a declaratory judgment action in the superior court of this state to determine whether good cause exists for the establishment or relocation of a proposed new motor vehicle dealer. If an action is filed, the manufacturer or distributor may not establish or relocate the proposed new motor vehicle dealer until the court has rendered a decision on the matter.

(c) This section does not prohibit (1) the relocation of an existing new motor vehicle dealer to a new location not within four miles of an existing new motor vehicle dealer;

(2) the appointment of a successor new motor vehicle dealer at the same location as its predecessor or within a two-mile radius from any boundary of the predecessor's former location within two years from the date when the predecessor ceased operations or was terminated, whichever occurred later; or

(3) the entering into of a renewal of, replacement of, or succeeding franchise agreement with an existing new motor vehicle dealer whose operations will continue at the existing new motor vehicle dealer's current location.

(d) When determining whether good cause exists for establishing or relocating an additional new motor vehicle dealer for the same line make, the superior court shall consider the existing circumstances, including (1) whether the establishment of an additional franchise or relocation of the existing new motor vehicle dealer appears to be warranted by economic and marketing conditions, including anticipated future changes;

(2) the retail sales and service business transacted by the protesting new motor vehicle dealer and other new motor vehicle dealers of the same line make with a place of business in the relevant market area to be served by the additional franchise or proposed new location of an existing new motor vehicle dealer during the three-year period immediately preceding the notice;

(3) the investment necessarily made and obligations incurred by the protesting new motor vehicle dealer to perform the protesting new motor vehicle dealer's obligations under existing franchise agreements;

(4) the permanency of the investment of the protesting new motor vehicle dealer;

(5) whether it is beneficial or injurious to the public welfare for an additional franchise to be established or for the existing new motor vehicle dealer to be relocated;

(6) whether the manufacturer has denied the manufacturer's existing new motor vehicle dealer of the same line make the opportunity for reasonable growth, market expansion, or relocation; and

(7) whether the proposed relocation is farther away from the protesting new motor vehicle dealer.

(e) Under this section, a manufacturer has the burden of proving that good cause exists for permitting the proposed establishment or relocation of a new motor vehicle dealer that the manufacturer has proposed, and the new motor vehicle dealer has the burden of proving that good cause exists for permitting the proposed establishment or relocation of a new motor vehicle dealer that the new motor vehicle dealer has proposed.

(f) In this section, (1) relevant market area means the greater of the area (A) within a radius of 14 miles around an existing new motor vehicle dealer; or

(B) of responsibility defined in a governing franchise agreement;

(2) relocate and relocation do not include the relocation of a new motor vehicle dealer within two miles of the new motor vehicle dealer's established place of business.
Alaska Stat. § 45.48.510 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.510
Measures to protect access.
Status: in_force

The measures that may be taken to comply with AS 45.48.500 include (1) implementing and monitoring compliance with policies and procedures that require the burning, pulverizing, or shredding of paper documents containing personal information so that the personal information cannot practicably be read or reconstructed;

(2) implementing and monitoring compliance with policies and procedures that require the destruction or erasure of electronic media and other nonpaper media containing personal information so that the personal information cannot practicably be read or reconstructed;

(3) after due diligence, entering into a written contract with a third party engaged in the business of record destruction to dispose of records containing personal information in a manner consistent with AS 45.48.500  45.48.590.
Alaska Stat. § 45.66.100 — AK Code / Title 45 / Chapter 45.66 / Section 45.66.100
Restrictions on down payments.
Status: in_force

(a) A seller may not require a buyer to pay as a down payment more than 20 percent of the initial payment unless the excess above the 20 percent is placed in an escrow account that meets the requirements of AS 45.66.110 .

(b) In this section, (1) down payment means that portion of the initial payment that the buyer is obligated to pay to the seller before or at the time the products, equipment, supplies, or services are delivered, but does not include any amount that is financed by or for which financing is to be obtained by the seller or that results from financing that the seller assists the buyer to obtain;

(2) initial payment means (A) the total amount that a buyer is obligated to pay under the terms of the contract before or at the time the equipment, supplies, products, or services are delivered or within six months after the buyer commences operation of the business opportunity; or

(B) the entire sale price if the contract sets out a specific total sale price for the purchase of the business opportunity and the total price is to be paid partially as a down payment and then in specific monthly payments or a subsequent lump sum payment.
Alaska Stat. § 45.02.612 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.612
Installment contract; breach.
Status: in_force

(a) An installment contract is one that requires or authorizes the delivery of goods in separate lots to be separately accepted, even though the contract contains a clause, each delivery is a separate contract, or its equivalent.

(b) The buyer may reject an installment that is nonconforming if the nonconformity substantially impairs the value of that installment and cannot be cured or if the nonconformity is a defect in the required documents; but if the nonconformity does not fall within (c) of this section and the seller gives adequate assurance of its cure, the buyer must accept that installment.

(c) If nonconformity or default with respect to one or more installments substantially impairs the value of the whole contract, there is a breach of the whole. But the aggrieved party reinstates the contract if the party accepts a nonconforming installment without seasonably notifying of cancellation or if the party brings an action with respect only to past installments or demands performance as to future installments.
Alaska Stat. § 45.02.320 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.320
C.I.F. and C. & F. terms.
Status: in_force

(a) The term C.I.F. means that the price includes in a lump sum the cost of the goods and the insurance and freight to the named destination. The term C. & F. or C.F. means that the price so includes cost and freight to the named destination.

(b) Unless otherwise agreed and even though used only in connection with the stated price and destination, the term C.I.F. destination or its equivalent requires the seller at the expense and risk of the seller to (1) put the goods into the possession of a carrier at the port for shipment and obtain a negotiable bill or bills of lading covering the entire transportation to the named destination; and

(2) load the goods and obtain a receipt from the carrier, which may be contained in the bill of lading, showing that the freight has been paid or provided for; and

(3) obtain a policy or certificate of insurance, including war risk insurance, of a kind and on terms then current at the port of shipment in the usual amount, in the currency of the contract, shown to cover the same goods covered by the bill of lading and providing for payment of loss to the order of the buyer or for the account of whom it may concern; but the seller may add to the price the amount of the premium for war risk insurance; and

(4) prepare an invoice of the goods and procure any other documents required to effect shipment or to comply with the contract; and

(5) forward and tender with commercial promptness all the documents in due form and with the endorsement necessary to perfect the buyer's rights.

(c) Unless otherwise agreed, the term C. & F. or its equivalent has the same effect and imposes upon the seller the same obligations and risks as a C.I.F. term except the obligation as to insurance.

(d) Under the term C.I.F. or C. & F., unless otherwise agreed, the buyer must make payment against tender of the required documents and the seller may not tender or the buyer demand delivery of the goods in substitution for the documents.
Alaska Stat. § 45.02.511 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.511
Tender of payment by buyer; payment by check.
Status: in_force

(a) Unless otherwise agreed, tender of payment is a condition to the seller's duty to tender and complete a delivery.

(b) Tender of payment is sufficient when made by a means or in a manner current in the ordinary course of business unless the seller demands payment in legal tender and gives an extension of time reasonably necessary to procure it.

(c) Subject to the provisions of the code on the effect of an instrument on an obligation ( AS 45.03.310 ), payment by check is conditional and is defeated as between the parties by dishonor of the check on due presentment.
Alaska Stat. § 45.03.502 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.502
Dishonor.
Status: in_force

(a) Dishonor of a note is governed by the following rules: (1) if the note is payable on demand, the note is dishonored if presentment is duly made to the maker and the note is not paid on the day of presentment;

(2) if the note is not payable on demand and is payable at or through a bank or the terms of the note require presentment, the note is dishonored if presentment is duly made and the note is not paid on the day it becomes payable or the day of presentment, whichever is later; and

(3) if the note is not payable on demand and (2) of this subsection does not apply, the note is dishonored if it is not paid on the day it becomes payable.

(b) Dishonor of an unaccepted draft, other than a documentary draft, is governed by the following rules: (1) if a check is duly presented for payment to the payor bank other than for immediate payment over the counter, the check is dishonored if the payor bank makes timely return of the check or sends timely notice of dishonor or nonpayment under AS 45.04.301  45.04.302, or becomes accountable for the amount of the check under AS 45.04.302 ;

(2) if a draft is payable on demand and (1) of this subsection does not apply, the draft is dishonored if presentment for payment is duly made to the drawee and the draft is not paid on the day of presentment;

(3) if a draft is payable on a date stated in the draft, the draft is dishonored if presentment for (A) payment is duly made to the drawee and payment is not made on the day the draft becomes payable or the day of presentment, whichever is later; or

(B) acceptance is duly made before the day the draft becomes payable and the draft is not accepted on the day of presentment; and

(4) if a draft is payable on elapse of a period of time after sight or acceptance, the draft is dishonored if presentment for acceptance is duly made and the draft is not accepted on the day of presentment.

(c) Dishonor of an unaccepted documentary draft occurs according to the rules stated in (b)(2)  (4) of this section, except that payment or acceptance may be delayed without dishonor until no later than the close of the third business day of the drawee following the day on which payment or acceptance is required by (b)(2)  (4) of this section.

(d) Dishonor of an accepted draft is governed by the following rules: (1) if the draft is payable on demand, the draft is dishonored if presentment for payment is duly made to the acceptor and the draft is not paid on the day of presentment; and

(2) if the draft is not payable on demand, the draft is dishonored if presentment for payment is duly made to the acceptor and payment is not made on the day it becomes payable or the day of presentment, whichever is later.

(e) In any case in which presentment is otherwise required for dishonor under this section and presentment is excused under AS 45.03.504 , dishonor occurs without presentment if the instrument is not duly accepted or paid.

(f) If a draft is dishonored because timely acceptance of the draft was not made and the person entitled to demand acceptance consents to a late acceptance, from the time of acceptance the draft is treated as never having been dishonored.
Alaska Stat. § 45.48.050 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.050
Exception for employees and agents.
Status: in_force

In AS 45.48.010  45.48.090, the good faith acquisition of personal information by an employee or agent of an information collector for a legitimate purpose of the information collector is not a breach of the security of the information system if the employee or agent does not use the personal information for a purpose unrelated to a legitimate purpose of the information collector and does not make further unauthorized disclosure of the personal information.
Alaska Stat. § 45.02.701 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.701
Remedies for breach of collateral contracts not impaired.
Status: in_force

Remedies for breach of an obligation or promise collateral or ancillary to a contract for sale are not impaired by this chapter.
Alaska Stat. § 45.02.315 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.315
Implied warranty: Fitness for particular purpose.
Status: in_force

If the seller at the time of contracting has reason to know a particular purpose for which the goods are required and that the buyer is relying on the seller's skill or judgment to select or furnish suitable goods, there is, unless excluded or modified under AS 45.02.316 , an implied warranty that the goods shall be fit for that purpose.
Alaska Stat. § 45.08.115 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.115
Securities intermediary and others not liable to adverse claimant.
Status: in_force

A securities intermediary that has transferred a financial asset under an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, broker, other agent, or bailee (1) took the action after it had been served with an injunction, restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order, or other legal process;

(2) acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or

(3) in the case of a security certificate that has been stolen, acted with notice of the adverse claim.
Alaska Stat. § 45.50.070 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.070
Duration and renewal.
Status: in_force

(a) Registration of a mark is effective for a term of five years from the date of registration. Upon application filed within six months before the expiration of the term in a manner complying with the requirements of the commissioner, the registration may be renewed for an additional term of five years.

(b) An application for renewal of a registration must include a signed statement that the mark has been used and is still in use. Three specimens showing actual use of the mark on or in connection with the goods or services shall be submitted with the renewal application.
Alaska Stat. § 45.03.106 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.106
Unconditional promise or order.
Status: in_force

(a) Except as provided in this section, for the purposes of AS 45.03.104 (a), a promise or order is unconditional unless it states an express condition to payment, that the promise or order is subject to or governed by another writing, or that rights or obligations with respect to the promise or order are stated in another writing. A reference to another writing does not of itself make a promise or order conditional.

(b) A promise or order is not made conditional (1) by a reference to another writing for a statement of rights with respect to collateral, prepayment, or acceleration; or

(2) because payment is limited to resort to a particular fund or source.

(c) If a promise or order requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the promise or order, the condition does not make the promise or order conditional for the purposes of AS 45.03.104 (a). If the person whose specimen signature appears on an instrument fails to countersign the instrument, the failure to countersign is a defense to the obligation of the issuer, but the failure does not prevent a transferee of the instrument from becoming a holder of the instrument.

(d) If a promise or order at the time it is issued or first comes into possession of a holder contains a statement, required by applicable statutory or administrative law, to the effect that the rights of a holder or transferee are subject to claims or defenses that the issuer could assert against the original payee, the promise or order is not thereby made conditional for the purposes of AS 45.03.104 (a), but if the promise or order is an instrument, there cannot be a holder in due course of the instrument.
Alaska Stat. § 45.63.060 — AK Code / Title 45 / Chapter 45.63 / Section 45.63.060
Criminal penalties.
Status: in_force

(a) A person who sells or attempts to sell property or services by telephonic means by making substantially the same offer on substantially the same terms to two or more persons without complying with the registration requirements of AS 45.63.010 , or who solicits, or receives, payment for a purchase before receiving the written contract required by AS 45.63.020 is guilty of a class C felony.

(b) A person who violates AS 45.63.030  45.63.050 is guilty of a class A misdemeanor.
Alaska Stat. § 45.14.108 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.108
Relationship to federal law.
Status: in_force

(a) Except as provided in (b) of this section, this chapter does not apply to a funds transfer if a part of the funds transfer is governed by 15 U.S.C. 1693  1693r (Electronic Fund Transfer Act of 1978), as amended from time to time.

(b) This chapter applies to a funds transfer that is a remittance transfer as defined in 15 U.S.C. 1693o-1, as amended from time to time, unless the remittance transfer is an electronic fund transfer as defined in 15 U.S.C. 1693a, as amended from time to time.

(c) In a funds transfer to which this chapter applies, in the event of an inconsistency between an applicable provision of this chapter and an applicable provision of 15 U.S.C. 1693  1693r, the provision of 15 U.S.C. 1693  1693r governs to the extent of the inconsistency.

Article 2. Issue and Acceptance of Payment Order.
Alaska Stat. § 45.25.030 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.030
Corporate affiliates.
Status: in_force

(a) A manufacturer may not use a subsidiary corporation, affiliated corporation, partnership, association, or other person to accomplish what would be prohibited for the manufacturer under this chapter.

(b) This section does not limit the right of a person included within the scope of this section to engage in reasonable and appropriate business practices consistent with an existing trade practice that is not prohibited by this chapter.

Article 2. Franchise Agreements.
Alaska Stat. § 45.55.160 — AK Code / Title 45 / Chapter 45.55 / Section 45.55.160
Misleading filings.
Status: in_force

A person may not, in a document filed with the administrator or in a proceeding under this chapter, make or cause to be made an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading.
Alaska Stat. § 45.50.150 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.150
Classification.
Status: in_force

The department shall by regulation establish a classification of goods and services for convenience of administration of AS 45.50.010  45.50.205. However, the classification does not limit or extend the applicant's or registrant's rights, and a single application for registration of a mark may include all goods upon which, or services with which, the mark is actually being used comprised in a single class, but in no event may a single application include goods or services upon which the mark is being used that fall within different classes of goods or services. To the extent practical, the classification of goods and services should conform to the classification adopted by the United States Patent and Trademark Office.
Alaska Stat. § 45.12.103 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.103
Definitions and index of definitions.
Status: reserved

(a) In this chapter, unless the context otherwise requires, (1) buyer in ordinary course of business means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, buys in ordinary course from a person in the business of selling goods of that kind, but does not include a pawnbroker; buying may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale, but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt;

(2) cancellation occurs when either party puts an end to the lease contract for default by the other party;

(3) commercial unit means a unit of goods that by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use; a commercial unit may be a single article, as a machine, or a set of articles, as a suite of furniture or a line of machinery, or a quantity, as a gross or carload, or any other unit treated in use or in the relevant market as a single whole;

(4) conforming goods or performance under a lease contract means goods or performance that are in accordance with the obligations under the lease contract;

(5) consumer lease means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for personal, family, or household purposes;

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

(7) finance lease means a lease with respect to which (A) the lessor does not select, manufacture, or supply the goods;

(B) the lessor acquires the goods or the right to possession and use of the goods in connection with the lease; and

(C) one of the following occurs: (i) the lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract;

(ii) the lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract;

(iii) the lessee, before signing the lease contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or

(iv) if the lease is not a consumer lease, the lessor, before the lessee signs the lease contract, informs the lessee in writing of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person; that the lessee is entitled under this chapter to the promises and warranties, including those of a third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; and that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies;

(8) goods means all things that are movable at the time of identification to the lease contract, or are fixtures under AS 45.12.309 , but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction; the term also includes the unborn young of animals;

(9) installment lease contract means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains the clause each delivery is a separate lease or its equivalent;

(10) lease means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease; unless the context clearly indicates otherwise, the term includes a sublease;

(11) lease agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter; unless the context clearly indicates otherwise, the term includes a sublease agreement;

(12) lease contract means the total legal obligation that results from the lease agreement as affected by this chapter and other applicable rules of law; unless the context clearly indicates otherwise, the term includes a sublease contract;

(13) leasehold interest means the interest of the lessor or the lessee under a lease contract;

(14) lessee means a person who acquires the right to possession and use of goods under a lease; unless the context clearly indicates otherwise, the term includes a sublessee;

(15) lessee in ordinary course of business means a person who, in good faith and without knowledge that the lease to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind, but does not include a pawnbroker; leasing may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting lease contract, but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt;

(16) lessor means a person who transfers the right to possession and use of goods under a lease; unless the context clearly indicates otherwise, the term includes a sublessor;

(17) lessor's residual interest means the lessor's interest in the goods after expiration, termination, or cancellation of the lease contract;

(18) lien means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest;

(19) lot means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract;

(20) merchant lessee means a lessee who is a merchant with respect to goods of the kind subject to the lease;

(21) present value means the amount as of a date certain of one or more sums payable in the future, discounted to the date certain; the discount is determined by the interest rate specified by the parties if the rate was not manifestly unreasonable at the time the transaction was entered into; otherwise, the discount is determined by a commercially reasonable rate that takes into account the facts and circumstances of each case at the time the transaction was entered into;

(22) purchase includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods;

(23) sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease;

(24) supplier means a person from whom a lessor buys or leases goods to be leased under a finance lease;

(25) supply contract means a contract under which a lessor buys or leases goods to be leased;

(26) termination occurs when either party under a power created by agreement or law puts an end to the lease contract otherwise than for default.

(b) Other definitions applying to this chapter and the sections in which they appear are: (1) accessions in AS 45.12.310 (a);

(2) construction mortgage in AS 45.12.309 (j)(5);

(3) encumbrance in AS 45.12.309 (j)(1);

(4) fixture filing in AS 45.12.309 (j)(2);

(5) fixtures in AS 45.12.309 (j)(3);

(6) purchase money lease in AS 45.12.309 (j)(4).

(c) The following definitions in AS 45.02 and AS 45.29 apply to this chapter: (1) account ( AS 45.29.102 (a));

(2) between merchants ( AS 45.02.104 (c));

(3) buyer ( AS 45.02.103 (a)(1));

(4) chattel paper ( AS 45.29.102 (a));

(5) consumer goods ( AS 45.29.102 (a));

(6) document ( AS 45.29.102 (a));

(7) entrusting ( AS 45.02.403 (c));

(8) general intangible ( AS 45.29.102 (a));

(9) [Repealed, § 113 ch 44 SLA 2009.] (10) instrument ( AS 45.29.102 (a));

(11) merchant ( AS 45.02.104 (a));

(12) mortgage ( AS 45.29.102 (a));

(13) pursuant to a commitment ( AS 45.29.102 (a));

(14) receipt ( AS 45.02.103 (a)(3));

(15) sale ( AS 45.02.106 (a));

(16) sale on approval ( AS 45.02.326 );

(17) sale or return ( AS 45.02.326 );

(18) seller ( AS 45.02.103 (a)(4)).

(d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Alaska Stat. § 45.20.010 — AK Code / Title 45 / Chapter 45.20 / Section 45.20.010
Certain claimants in possession considered owner of ores.
Status: in_force

A person in the actual and peaceable possession of a mining claim, under claim or color of title, and engaged in the mining, shipment and treatment, or sale of ore from it, shall, as to all persons purchasing the ore in good faith and without notice as provided in this chapter of the title or claim of title, or ownership of another person to it, be considered to be the lawful owner of the ore.
Alaska Stat. § 45.68.020 — AK Code / Title 45 / Chapter 45.68 / Section 45.68.020
Contract required.
Status: in_force

(a) A paid solicitor may not solicit contributions on behalf of a charitable organization unless the paid solicitor executes a written contract with the charitable organization that clearly states the respective obligations of the paid solicitor and the charitable organization, including (1) a statement of the method to be used to calculate the compensation of the paid solicitor; the statement must include a reasonable estimate of the expenses, including the estimated compensation of the paid solicitor, to be incurred, directly or indirectly, by the charitable organization in connection with the solicitation;

(2) a statement of the charitable purpose to be described in the solicitation; and

(3) the percentage of the gross contributions that the charitable organization is to receive.

(b) A copy of the contract required by (a) of this section shall be filed with the department.
Alaska Stat. § 45.45.690 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.690
Definitions.
Status: in_force

In AS 45.45.600  45.45.690, (1) assistive technology device means an item, piece of equipment, or product system, whether acquired commercially off the shelf, modified, or customized, that is used or designed to be used to increase, maintain, or improve a functional capability of an individual with disabilities; an assistive technology device system that, as a whole, is within the definition of assistive technology device, is itself an assistive technology device, and in such case the term also applies to each component product of the assistive technology device system that is itself ordinarily an assistive technology device; to the extent that a device otherwise meets the requirements of this paragraph, assistive technology device includes (A) wheelchairs and scooters of any kind, and other aids that enhance the mobility or positioning of an individual, such as motorization, motorized positioning features, and the switches and controls for motorized features;

(B) hearing aids, telephone communication devices for the deaf, and other assistive listening devices;

(C) computer equipment and reading devices with voice output, optical scanners, talking software, braille printers, and other aids and devices that provide access to text;

(D) computer equipment with voice output, artificial larynges, voice amplification devices, and other alternative and augmentative communication devices;

(E) voice recognition computer equipment, software and hardware accommodations, switches, and other forms of alternative access to computers;

(F) environmental control units; and

(G) simple mechanical aids that enhance the functional capabilities of an individual with disabilities;

(2) assistive technology device system means the final product resulting from a manufacturer customizing, adapting, reconfiguring, refitting, refurbishing, or composing into a system one or more component products, whether or not new, that may be assistive technology devices or standard products of the same or other manufacturer;

(3) collateral costs means the following expenses incurred by a consumer: (A) medical expenses for the treatment of a physical injury caused by a nonconformity in an assistive technology device or mobility aid;

(B) the cost to rent a substitute assistive technology device or mobility aid during the time repairs are attempted for an assistive technology device or mobility aid that has a nonconformity and during the time preceding receipt of a replacement when repairs have been unsuccessful;

(C) the cost of shipping an assistive technology device or mobility aid that has a nonconformity to a manufacturer, lessor, or authorized dealer for repair or replacement; and

(D) the documented costs of long-distance telephone calls and facsimile transmissions used to contact the manufacturer, lessor, or authorized dealer for the purpose of effecting a repair or replacement of an assistive technology device or mobility aid that has a nonconformity;

(4) consumer means (A) the purchaser of an assistive technology device or mobility aid, if the assistive technology device or mobility aid was purchased from a dealer or manufacturer for purposes other than resale;

(B) a person to whom the assistive technology device or mobility aid is transferred for purposes other than resale, if the transfer occurs before the expiration of an express warranty applicable to the assistive technology device or mobility aid;

(C) a person who may enforce the warranty; or

(D) a person who leases an assistive technology device or a mobility aid from a lessor under a written lease;

(5) dealer means a person who is in the business of selling assistive technology devices or mobility aids without assembly or modification;

(6) demonstrator means an assistive technology device or a mobility aid used primarily for the purpose of demonstration to the public;

(7) early termination cost means any expense or obligation that a lessor incurs as a result of both the termination of a written lease before the termination date set out in that lease and the return of an assistive technology device or mobility aid to a manufacturer; early termination cost includes a penalty for prepayment under a finance arrangement;

(8) early termination savings means any expense or obligation that a lessor avoids as a result of both the termination of a written lease before the termination date set out in that lease and the return of an assistive technology device or mobility aid to a manufacturer; early termination savings includes an interest charge that the lessor would have paid to finance the assistive technology device or mobility aid or, if the lessor does not finance the assistive technology device or mobility aid, the difference between the total amount for which the lease obligates the consumer during the period of the lease term remaining after the early termination and the present value of that amount at the date of the early termination;

(9) lessor means a person who leases an assistive technology device or mobility aid to a consumer, or who holds the lessor's rights, under a written lease;

(10) manufacturer means a person who is in the business of manufacturing, modifying, or assembling assistive technology devices or mobility aids and agents of that person, including an importer, a distributor, factory branch, distributor branch, and any warrantors of the manufacturer's assistive technology devices or mobility aids, but does not include a dealer;

(11) mobility aid means equipment or a device, including a demonstrator, designed to assist the mobility of a physically disabled person, that a consumer purchases or accepts transfer of in this state; in this paragraph, device includes (A) a motorized or nonmotorized wheelchair;

(B) a scooter;

(C) an automotive crane;

(D) a van lift; and

(E) special hand controls for a motor vehicle;

(12) nonconformity means a condition or defect that substantially impairs the use, value, or safety of an assistive technology device or mobility aid or a component of the assistive technology device or mobility aid, but does not include a condition or defect that is the result of abuse, neglect, or unauthorized modification or alteration of the assistive technology device or mobility aid or a component of the assistive technology device or mobility aid by a consumer;

(13) reasonable attempt to repair means either of the following occurring within the term of an express warranty applicable to a new assistive technology device or mobility aid or within one year after first delivery of the assistive technology device or mobility aid to a consumer, whichever is sooner: (A) the same nonconformity with the warranty is subject to repair by the manufacturer, lessor, or any of the manufacturer's authorized dealers at least four times and the nonconformity continues;

(B) the assistive technology device or mobility aid is out of service for an aggregate of at least 30 days because of warranty nonconformities.

Article 11. Distributorships.
Alaska Stat. § 45.29.606 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.606
Time of default for agricultural lien.
Status: in_force

For purposes of AS 45.29.601  45.29.628, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
Alaska Stat. § 45.02.509 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.509
Risk of loss in the absence of breach.
Status: in_force

(a) Where the contract requires or authorizes the seller to ship the goods by carrier, (1) if it does not require the seller to deliver them at a particular destination, the risk of loss passes to the buyer when the goods are duly delivered to the carrier even though the shipment is under reservation ( AS 45.02.505 ); but

(2) if it does require the seller to deliver them at a particular destination and the goods are there duly tendered while in the possession of the carrier, the risk of loss passes to the buyer when the goods are there duly so tendered as to enable the buyer to take delivery.

(b) Where the goods are held by a bailee to be delivered without being moved, the risk of loss passes to the buyer (1) on the buyer's receipt of possession or control of a negotiable document of title covering the goods;

(2) on acknowledgment by the bailee of the buyer's right to possession of the goods; or

(3) after the buyer's receipt of possession or control of a nonnegotiable document of title or other direction to deliver in a record, as provided in AS 45.02.503 (d)(2).

(c) In any case not within (a) or (b) of this section, the risk of loss passes to the buyer on the buyer's receipt of the goods if the seller is a merchant; otherwise the risk passes to the buyer on tender of delivery.

(d) This section is subject to contrary agreement of the parties and to the provisions on sale on approval ( AS 45.02.327 ), and on effect of breach on risk of loss ( AS 45.02.510 ).
Alaska Stat. § 45.75.170 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.170
Concurrent jurisdiction.
Status: in_force

In each city having a sealer of weights and measures, the director has concurrent authority to enforce this chapter.
Alaska Stat. § 45.50.570 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.570
Interlocking directorates and relationships.
Status: in_force

(a) It is unlawful for a person to be at the same time a director, officer, partner, or trustee in any two or more firms, partnerships, trusts, associations, or corporations or any combination of them engaged in commerce, if these firms, partnerships, trusts, associations, or corporations or a combination of them, are by virtue of their business and location or operation, competitors and if the effect may be substantially to lessen competition or tend to create a monopoly.

(b) A person may not by the use of a representative accomplish the result prohibited in (a) of this section.

(c) The validity or invalidity of an act of a director, officer, or trustee done by the director, officer, or trustee while occupying the position in violation of this section shall be determined by the statutory and common law of the state relating to corporations, trusts, or associations.

(d) The attorney general may bring an action at any time to cause a director, officer, or trustee who may be occupying such a position in violation of this section to vacate the office or offices to effect the termination of the prohibited interlocking relationship.

(e) A person affected by an act of a director, officer, or trustee may bring an action at any time to cause the director, officer, or trustee who may be occupying the position in violation of this section to terminate the prohibited interlocking relationship.

(f) The court, upon finding that a director, officer, or trustee is holding office in violation of this section, shall order the person to terminate the interlocking relationship, and, in the case of a trustee, the court may, when it considers it appropriate, order the trustee to vacate the office of the trustee. A remedy provided in this section does not limit and is in addition to any other remedy available under another section of this chapter or another law.
Alaska Stat. § 45.02.402 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.402
Rights of seller's creditors against sold goods.
Status: in_force

(a) Except as provided in (b) and (c) of this section, rights of unsecured creditors of the seller with respect to goods that have been identified to a contract for sale are subject to the buyer's rights to recover the goods under AS 45.02.502 and 45.02.716.

(b) A creditor of the seller may treat a sale or an identification of goods to a contract for sale as void if as against the creditor a retention of possession by the seller is fraudulent under any rule of law of the state where the goods are located, except that retention of possession in good faith and current course of trade by a merchant seller for a commercially reasonable time after a sale or identification is not fraudulent.

(c) Nothing in this chapter may be considered to impair the rights of creditors of the seller (1) under the provisions of AS 45.29 ; or

(2) if identification to the contract or delivery is made not in current course of trade but in satisfaction of or as security for a pre-existing claim for money, security, or the like and is made under circumstances that under any rule of law of the state where the goods are located would, apart from this chapter, constitute the transaction of a fraudulent transfer or voidable preference.
Alaska Stat. § 45.12.524 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.524
Lessor's right to identify goods to lease contract.
Status: in_force

(a) After default, by the lessee under the lease contract, of the type described in AS 45.12.523 (a) or (c)(1) or, if agreed, after other default by the lessee, the lessor may (1) identify to the lease contract conforming goods not already identified if at the time the lessor learned of the default they were in the lessor's or the supplier's possession or control; and

(2) dispose of goods under AS 45.12.527 (a) that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

(b) If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may either complete manufacture and wholly identify the goods to the lease contract or cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value or proceed in another reasonable manner.
Alaska Stat. § 45.07.501 — AK Code / Title 45 / Chapter 45.07 / Section 45.07.501
Form of negotiation and requirements of due negotiation.
Status: in_force

(a) The following rules apply to a negotiable tangible document of title: (1) if the document's original terms run to the order of a named person, the document is negotiated by the named person's endorsement and delivery; after the named person's endorsement in blank or to bearer, a person may negotiate the document by delivery alone;

(2) if the document's original terms run to bearer, it is negotiated by delivery alone;

(3) if the document's original terms run to the order of a named person and it is delivered to the named person, the effect is the same as if the document had been negotiated;

(4) negotiation of the document after it has been endorsed to a named person requires endorsement by the named person and delivery;

(5) a document is duly negotiated if it is negotiated in the manner stated in this subsection to a holder who purchases it in good faith, without notice of a defense against or claim to it on the part of a person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves receiving the document in settlement or payment of a monetary obligation.

(b) The following rules apply to a negotiable electronic document of title: (1) if the document's original terms run to the order of a named person or to bearer, the document is negotiated by delivery of the document to another person; endorsement by the named person is not required to negotiate the document;

(2) if the document's original terms run to the order of a named person and the named person has control of the document, the effect is the same as if the document had been negotiated;

(3) a document is duly negotiated if it is negotiated in the manner stated in this subsection to a holder who purchases it in good faith, without notice of a defense against or claim to it on the part of a person, and for value, unless it is established that the negotiation is not in the regular course of business or financing or involves taking delivery of the document in settlement or payment of a monetary obligation.

(c) Endorsement of a nonnegotiable document of title does not make it negotiable or add to the transferee's rights.

(d) The naming in a negotiable bill of lading of a person to be notified of the arrival of the goods does not limit the negotiability of the bill or constitute notice to a purchaser of the bill of an interest of that person in the goods.
Alaska Stat. § 45.50.603 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.603
Prosecution by attorney general.
Status: in_force

The attorney general shall prosecute any legal action on behalf of the state director of civil defense.
Alaska Stat. § 45.25.440 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.440
Advertised price.
Status: in_force

A motor vehicle dealer's advertised price for a motor vehicle must include all dealer fees and costs, except for fees, such as licensing fees, registration fees, title transfer fees, and sales taxes, actually paid to a government agency. In this section, dealer fees and costs includes dealer preparation fees, document preparation fees, surcharges, and other dealer-imposed fees and costs.
Alaska Stat. § 45.04.501 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.501
Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
Status: in_force

A bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, must seasonably notify its customer of this fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
Alaska Stat. § 45.02.507 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.507
Effect of seller's tender; delivery on condition.
Status: in_force

(a) Tender of delivery is a condition to the buyer's duty to accept the goods and, unless otherwise agreed, to the buyer's duty to pay for them. Tender entitles the seller to acceptance of the goods and to payment according to the contract.

(b) If payment is due and demanded on the delivery to the buyer of goods or documents of title, the buyer's right as against the seller to retain or dispose of them is conditional upon the buyer's making the payment due.
Alaska Stat. § 45.29.311 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.311
Perfection of security interests in property subject to certain statutes, regulations, and treaties.
Status: in_force

(a) Except as otherwise provided in (d) of this section, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to (1) a statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt AS 45.29.310 (a);

(2) AS 28.10 ; however, during a period in which collateral is inventory held for sale by a person who is in the business of selling goods of that kind, the filing provisions of AS 45.29.501  45.29.525 apply to a security interest in that collateral created by that person as debtor; or

(3) a statute of another jurisdiction that provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.

(b) Compliance with the requirements of a statute, regulation, or treaty described in (a) of this section for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this chapter. Except as otherwise provided in (d) of this section, AS 45.29.313 , and 45.29.316(d) and (e) for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in (a) of this section may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.

(c) Except as otherwise provided in (d) of this section and AS 45.29.316 (d) and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in (a) of this section are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this chapter.

(d) During a period in which collateral subject to a statute specified in (a)(2) of this section is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.
Alaska Stat. § 45.56.430 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.430
Protecting older and vulnerable adults from financial exploitation.
Status: in_force

(a) If a broker-dealer, investment adviser, or qualified individual reasonably believes that the financial exploitation of a covered adult may have occurred, may have been attempted, or is being attempted, the broker-dealer, investment adviser, or qualified individual shall notify adult protective services and the administrator not later than five days after the broker-dealer, investment adviser, or qualified individual develops the reasonable belief that the financial exploitation or attempted financial exploitation has or may have occurred, or is being attempted, except that the broker-dealer, investment adviser, or qualified individual shall notify adult protective services and the administrator immediately upon confirmation of the financial exploitation or attempted financial exploitation of the covered adult.

(b) The requirements of (a) of this section may not be construed to require more than one notification for each occurrence of exploitation or attempted exploitation.

(c) If a broker-dealer, investment adviser, or qualified individual reasonably believes that financial exploitation of a covered adult may have occurred, may have been attempted, or is being attempted, a broker-dealer, investment adviser, or qualified individual may notify a person whom the covered adult previously designated to be notified about financial matters of the covered adult, as well as any other person allowed under state or federal law or regulation, or the rules of a self-regulatory organization, except that the broker-dealer, investment adviser, or qualified individual may not notify a person that is suspected of engaging in financial exploitation or other abuse of the covered adult.

(d) A broker-dealer or investment adviser may delay a disbursement from an account of a covered adult or from an account on which a covered adult is a beneficiary if (1) the broker-dealer, investment adviser, or qualified individual reasonably believes, after initiating an internal review of the requested disbursement and the suspected financial exploitation of a covered adult, that the requested disbursement may result in financial exploitation of the covered adult; and

(2) the broker-dealer or investment adviser (A) within two business days after receiving the request for disbursement, provides written notification of the delay and the reason for the delay to all persons authorized to transact business on the account, except to a person that the broker-dealer, investment adviser, or qualified individual reasonably believes has engaged in suspected or attempted financial exploitation of the covered adult;

(B) within two business days after receiving the request for disbursement, notifies adult protective services and the administrator; and

(C) continues as necessary an internal review of the suspected or attempted financial exploitation of the covered adult and, within seven business days after receiving the request for disbursement, reports the status of the investigation to adult protective services and the administrator, and provides additional status updates to the administrator and adult protective services upon request.

(e) A disbursement delay under (d) of this section expires when the earlier of the following events occurs: (1) the broker-dealer or investment adviser determines that the disbursement will not result in financial exploitation of the covered adult;

(2) 15 business days after the date on which the broker-dealer or investment adviser first delayed the disbursement, unless (A) adult protective services or the administrator requests that the broker-dealer or investment adviser extend the delay, in which case the delay expires 25 business days after the date on which the broker-dealer or investment adviser first delayed disbursement; or

(B) adult protective services, the administrator, or the superior court terminates the delay.

(f) Adult protective services, the administrator, the broker-dealer or investment adviser that initiated the delay under (d) or (e) of this section, or another interested person may petition the superior court for an order extending a disbursement delay or providing other relief to a covered adult, and the superior court may enter an order providing the requested relief.

(g) A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of a covered adult to adult protective services and to state law enforcement agencies as part of a referral to adult protective services or an investigation. The records that may be accessed or copied under this subsection include records relating to past transactions that may have involved financial exploitation of the covered adult as well as records relating to the most recent transaction that may involve financial exploitation of the covered adult. Records made available to agencies under this subsection are not public records as defined in AS 40.25.220 . This subsection does not limit or impede the authority of the administrator to access or examine the books and records of broker-dealers and investment advisers as otherwise provided by law.

(h) A broker-dealer, investment adviser, or qualified individual acting in good faith and exercising reasonable care under (a)  (g) of this section is immune from administrative or civil liability for a notification, disclosure, disbursement delay, or record sharing under (a)  (g) of this section.

(i) The following constitute the financial exploitation of a covered adult under this section: (1) the wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or other property of a covered adult; or

(2) an act or omission of a person, including an act or omission made through the use of a power of attorney, guardianship, or conservatorship of a covered adult, to (A) obtain control, through deception, intimidation, or undue influence, over the covered adult's money, assets, or other property to deprive the covered adult of the ownership, use, benefit, or possession of the covered adult's money, assets, or other property; or

(B) convert the ownership, use, benefit, or possession of the covered adult's money, assets, or other property to another person.

(j) In this section, (1) adult protective services means the agency that has the responsibility for providing protective services for adults; in this paragraph, (A) agency has the meaning given in AS 44.64.200 ;

(B) protective services has the meaning given in AS 47.24.900 ;

(2) covered adult means a natural person who is (A) 60 years of age or older; or

(B) a vulnerable adult;

(3) qualified individual means an agent, investment adviser representative, or other person who is acting in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser.
Alaska Stat. § 45.29.308 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.308
When security interest or agricultural lien is perfected; continuity of perfection.
Status: in_force

(a) Except as otherwise provided in this section and AS 45.29.309 , a security interest is perfected if it has attached and all of the applicable requirements for perfection in AS 45.29.310  45.29.316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches.

(b) An agricultural lien is perfected if it has become effective and all of the applicable requirements for perfection in AS 45.29.310 have been satisfied. An agricultural lien is perfected when it becomes effective if the applicable requirements are satisfied before the agricultural lien becomes effective.

(c) A security interest or agricultural lien is perfected continuously if it is originally perfected by one method under this chapter and is later perfected by another method under this chapter, without an intermediate period when it was unperfected.

(d) Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral.

(e) Perfection of a security interest in a right to payment or performance also perfects a security interest in a security interest, mortgage, or other lien on personal or real property securing the right.

(f) Perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the securities account.

(g) Perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the commodity account.
Alaska Stat. § 45.02.306 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.306
Output, requirements, and exclusive dealings.
Status: in_force

(a) A term that measures the quantity by the output of the seller or the requirements of the buyer means such actual output or requirements as may occur in good faith, except that no quantity unreasonably disproportionate to a stated estimate or, in the absence of a stated estimate, to a normal or otherwise comparable prior output or requirements may be tendered or demanded.

(b) A lawful agreement by either the seller or the buyer for exclusive dealing in the kind of goods concerned imposes, unless otherwise agreed, an obligation by the seller to use best efforts to supply the goods and by the buyer to use best efforts to promote their sale.
Alaska Stat. § 45.14.503 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.503
Injunction or restraining order with respect to funds transfer.
Status: in_force

(a) For proper cause and in compliance with applicable law, a court may restrain (1) a person from issuing a payment order to initiate a funds transfer;

(2) an originator's bank from executing the payment order of the originator; or

(3) the beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds.

(b) Except as provided in (a) of this section, a court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer.
Alaska Stat. § 45.02.719 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.719
Contractual modification or limitation of remedy.
Status: in_force

(a) Subject to (b) and (c) of this section and AS 45.02.718 on liquidation and limitation of damages, (1) the agreement may provide for remedies in addition to or in substitution for those provided in this chapter and may limit or alter the measure of damages recoverable under this chapter, as by limiting the buyer's remedies to return of the goods and repayment of the price or to repair and replacement of nonconforming goods or parts; and

(2) resort to a remedy as provided is optional unless the remedy is expressly agreed to be exclusive, in which case it is the sole remedy.

(b) If circumstances cause an exclusive or limited remedy to fail of its essential purpose, remedy may be had as provided in the code.

(c) Consequential damages may be limited or excluded unless the limitation or exclusion is unconscionable. Limitation of consequential damages for injury to the person in the case of consumer goods is prima facie unconscionable, but limitation of damages where the loss is commercial is not.
Alaska Stat. § 45.56.380 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.380
Succession and change in registration of broker-dealer or investment adviser.
Status: in_force

(a) A broker-dealer or investment adviser may succeed to the current registration of another broker-dealer or investment adviser or a notice filing of a federal covered investment adviser, and a federal covered investment adviser may succeed to the current registration of an investment adviser or notice filing of another federal covered investment adviser, by filing as a successor an application for registration under AS 45.56.300 or 45.56.340 or a notice under AS 45.56.360 for the unexpired portion of the current registration or notice filing.

(b) A broker-dealer or investment adviser that changes its form of organization or state of incorporation or organization may continue its registration by filing an amendment to its registration if the change does not involve a material change in its financial condition or management. The amendment becomes effective when filed or on a date designated by the registrant in its filing. The new organization is a successor to the original registrant for the purposes of this chapter. If there is a material change in financial condition or management, the broker-dealer or investment adviser shall file a new application for registration. A predecessor registered under this chapter shall stop conducting its securities business other than winding down transactions and shall file for withdrawal of broker-dealer or investment adviser registration within 45 days after filing its amendment to effect succession.

(c) A broker-dealer or investment adviser that changes its name may continue its registration by filing an amendment to its registration. The amendment becomes effective when filed or on a date designated by the registrant.

(d) A change of control of a broker-dealer or investment adviser may be made in accordance with a regulation adopted or order issued under this chapter.
Alaska Stat. § 45.29.324 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.324
Priority of purchase money security interests.
Status: in_force

(a) Except as otherwise provided in (g) of this section, a perfected purchase money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as otherwise provided in AS 45.29.327 , a perfected security interest in its identifiable proceeds also has priority if the purchase money security interest is perfected when the debtor receives possession of the collateral or within 20 days thereafter.

(b) Subject to (c) of this section and except as otherwise provided in (g) of this section, a perfected purchase money security interest in inventory has priority over a conflicting security interest in the same inventory, has priority over a conflicting security interest in chattel paper or an instrument constituting proceeds of the inventory and in proceeds of the chattel paper if so provided in AS 45.29.330 , and, except as otherwise provided in AS 45.29.327 , also has priority in identifiable cash proceeds of the inventory to the extent the identifiable cash proceeds are received on or before the delivery of the inventory to a buyer if (1) the purchase money security interest is perfected when the debtor receives possession of the inventory;

(2) the purchase money secured party sends an authenticated notification to the holder of the conflicting security interest;

(3) the holder of the conflicting security interest receives the notification within five years before the debtor receives possession of the inventory; and

(4) the notification states that the person sending the notification has or expects to acquire a purchase money security interest in inventory of the debtor and describes the inventory.

(c) The provisions of (b)(2)  (4) of this section apply only if the holder of the conflicting security interest had filed a financing statement covering the same types of inventory if the purchase money security interest is (1) perfected by filing, before the date of the filing; or

(2) temporarily perfected without filing or possession under AS 45.29.312 (f) before the beginning of the 20-day period under AS 45.29.312 (f).

(d) Subject to (e) of this section and except as otherwise provided in (g) of this section, a perfected purchase money security interest in livestock that are farm products has priority over a conflicting security interest in the same livestock, and, except as otherwise provided in AS 45.29.327 , a perfected security interest in their identifiable proceeds and identifiable products in their unmanufactured states also has priority if (1) the purchase money security interest is perfected when the debtor receives possession of the livestock;

(2) the purchase money secured party sends an authenticated notification to the holder of the conflicting security interest;

(3) the holder of the conflicting security interest receives the notification within six months before the debtor receives possession of the livestock; and

(4) the notification states that the person sending the notification has or expects to acquire a purchase money security interest in livestock of the debtor and describes the livestock.

(e) The provisions of (d)(2)  (4) of this section apply only if the holder of the conflicting security interest had filed a financing statement covering the same types of livestock if the purchase money security interest is (1) perfected by filing before the date of the filing; or

(2) temporarily perfected without filing or possession under AS 45.29.312 (f) before the beginning of the 20-day period under AS 45.29.312 (f).

(f) Except as otherwise provided in (g) of this section, a perfected purchase-money security interest in software has priority over a conflicting security interest in the same collateral, and, except as otherwise provided in AS 45.29.327 , a perfected security interest in its identifiable proceeds also has priority to the extent that the purchase money security interest in the goods in which the software was acquired for use has priority in the goods and proceeds of the goods under this section.

(g) If more than one security interest qualifies for priority in the same collateral under (a), (b), (d), or (f) of this section, (1) a security interest securing an obligation incurred as all or part of the price of the collateral has priority over a security interest securing an obligation incurred for value given to enable the debtor to acquire rights in or the use of collateral; and

(2) in all other cases, AS 45.29.322 (a) applies to the qualifying security interests.
Alaska Stat. § 45.02.722 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.722
Who can sue third parties for injury to goods.
Status: in_force

If a third party so deals with goods that have been identified to a contract for sale as to cause actionable injury to a party to that contract, (1) a right of action against the third party is in either party to the contract for sale who has title to or a security interest or a special property or an insurable interest in the goods; and, if the goods have been destroyed or converted, a right of action is also in the party who either bore the risk of loss under the contract for sale or has since the injury assumed that risk as against the other;

(2) if at the time of the injury the party plaintiff did not fear the risk of loss as against the other party to the contract for sale and there is no arrangement between them for disposition of the recovery, the party plaintiff's suit or settlement is, subject to the party's own interest, as a fiduciary for the other party to the contract;

(3) either party may with the consent of the other sue for the benefit of whom it may concern.
Alaska Stat. § 45.14.305 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.305
Liability for late or improper execution or failure to execute payment order.
Status: in_force

(a) If a funds transfer is completed but execution of a payment order by the receiving bank in breach of AS 45.14.302 results in delay in payment to the beneficiary, the bank is obliged to pay interest to either the originator or the beneficiary of the funds transfer for the period of delay caused by the improper execution. Except as provided in (c) of this section, additional damages are not recoverable.

(b) If execution of a payment order by a receiving bank in breach of AS 45.14.302 results in noncompletion of the funds transfer, failure to use an intermediary bank designated by the originator, or issuance of a payment order that does not comply with the terms of the payment order of the originator, the bank is liable to the originator for its expenses in the funds transfer and for incidental expenses and interest losses, to the extent not covered by (a) of this section, resulting from the improper execution. Except as provided in (c) of this section, additional damages are not recoverable.

(c) In addition to the amounts payable under (a) and (b) of this section, damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank.

(d) If a receiving bank fails to execute a payment order it was obliged by express agreement to execute, the receiving bank is liable to the sender for its expenses in the transaction and for incidental expenses and interest losses resulting from the failure to execute. Additional damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank, but are not otherwise recoverable.

(e) Reasonable attorney fees are recoverable if demand for compensation under (a) or (b) of this section is made and refused before an action is brought on the claim. If a claim is made for breach of an agreement under (d) of this section and the agreement does not provide for damages, reasonable attorney fees are recoverable if demand for compensation under (d) of this section is made and refused before an action is brought on the claim. Recovery of attorney fees under this subsection is an exception to the general provisions of Rule 82, Alaska Rules of Civil Procedure.

(f) Except as stated in this section, the liability of a receiving bank under (a) and (b) of this section may not be varied by agreement.

Article 4. Payment.
Alaska Stat. § 45.56.320 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.320
Registration exemption for merger and acquisition broker.
Status: in_force

(a) Except as provided in (b) and (c) of this section, a merger and acquisition broker is exempt from registration under AS 45.56.300 .

(b) A merger and acquisition broker is not exempt from registration under AS 45.56.300 if the broker (1) directly or indirectly, in connection with the transfer of ownership of an eligible privately held company, receives, holds, transmits, or has custody of the funds or securities to be exchanged by the parties to the transaction;

(2) engages on behalf of an issuer in a public offering of any class of securities that is registered, or is required to be registered, with the Securities and Exchange Commission under 15 U.S.C. 78l(b) (Securities Exchange Act of 1934) or with respect to which the issuer files, or is required to file, periodic information, documents, and reports under 15 U.S.C. 78o(d) (Securities Exchange Act of 1934); or

(3) engages on behalf of any party in a transaction involving a public shell company.

(c) A merger and acquisition broker is not exempt from registration under AS 45.56.300 if the broker is subject to (1) suspension or revocation of registration under 15 U.S.C. 78o(b)(4) (Securities Exchange Act of 1934);

(2) a statutory disqualification described in 15 U.S.C. 78c(a)(39) (Securities Exchange Act of 1934);

(3) a disqualification established by the rules adopted by the Securities and Exchange Commission under Public Law 112-106, sec. 302(d), for 15 U.S.C. 77d (Dodd-Frank Wall Street Reform and Consumer Protection Act); or

(4) a final order described in 15 U.S.C. 78o(b)(4)(H) (Securities Exchange Act of 1934).

(d) This section may not be construed to limit any other authority of the department to exempt any person, or any class of persons, from a provision of this chapter, or a provision of a rule or regulation adopted under this chapter.

(e) In this section, (1) control means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise; there is a presumption of control for any person who (A) is a director, general partner, limited liability company member, limited liability company manager, an officer who exercises executive responsibility, or an officer who has status or functions similar to an officer who exercises executive responsibility;

(B) has the right to vote 20 percent or more of a class of voting securities or the power to sell or direct the sale of 20 percent or more of a class of voting securities; or

(C) in the case of a partnership or limited liability company, has the right to receive upon dissolution, or has contributed, 20 percent or more of the capital;

(2) eligible privately held company means a company that (A) does not have any class of securities registered, or required to be registered, with the Securities and Exchange Commission under 15 U.S.C. 78l(b) (Securities Exchange Act of 1934), or with respect to which the company files, or is required to file, periodic information, documents, and reports under 15 U.S.C. 78o(d) (Securities Exchange Act of 1934); and

(B) in the fiscal year ending immediately before the fiscal year in which the services of the merger and acquisition broker are initially engaged with respect to the securities transaction, meets either or both of the following conditions, determined in accordance with the historical financial accounting records of the company: (i) the earnings of the company before interest, taxes, depreciation, and amortization are less than $25,000,000;

(ii) the gross revenue of the company is less than $250,000,000;

(3) merger and acquisition broker means a broker, and a person associated with the broker, engaged in the business of effecting securities transactions solely in connection with the transfer of ownership of an eligible privately held company, regardless of whether that broker acts on behalf of a seller or buyer, through the purchase, sale, exchange, issuance, repurchase, or redemption of, or a business combination involving, securities or assets of the eligible privately held company, if the broker reasonably believes that (A) upon consummation of the transaction, a person acquiring securities or assets of the eligible privately held company, acting alone or in concert, will control and, directly or indirectly, be active in the management of the eligible privately held company or the business conducted with the assets of the eligible privately held company; and

(B) if a person is offered securities in exchange for securities or assets of the eligible privately held company, the person will, before becoming legally bound to consummate the transaction, receive or have reasonable access to the most recent fiscal year-end financial statements of the issuer of the securities as customarily prepared by its management in the normal course of operations and, if the financial statements of the issuer are audited, reviewed, or compiled, any related statement by the independent accountant; a balance sheet dated not more than 120 days before the date of the exchange offer; and information pertaining to the management, business, results of operations for the period covered by the foregoing financial statements, and any material loss contingencies of the issuer;

(4) public shell company means a company that, at the time of a transaction with an eligible privately held company, (A) has any class of securities registered, or required to be registered, with the Securities and Exchange Commission under 15 U.S.C. 78l(b), or with respect to which the company files, or is required to file, periodic information, documents, and reports under 15 U.S.C. 78o(d);

(B) has no assets or has nominal operations; and

(C) has (i) no assets or has nominal assets;

(ii) assets consisting solely of cash and cash equivalents; or

(iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.
Alaska Stat. § 45.12.506 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.506
Statute of limitations.
Status: in_force

(a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of action accrued. By the original lease contract the parties may reduce the period of limitation to not less than one year.

(b) A cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should have been discovered by the aggrieved party, or when the default occurs, whichever is later. A cause of action for indemnity accrues when the act or omission on which the claim for indemnity is based is or should have been discovered by the indemnified party, whichever is later.

(c) If an action commenced within the time limited by (a) of this section is so terminated as to leave available a remedy by another action for the same default or breach of warranty or indemnity, the other action may be commenced after the expiration of the time limited and within six months after the termination of the first action unless the termination resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute.

(d) This section does not alter the law on tolling of the statute of limitations.
Alaska Stat. § 45.45.760 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.760
Civil action.
Status: in_force

(a) A dealer may bring an action in court against a distributor if the distributor engages in activity prohibited under AS 45.45.700  45.45.790.

(b) In an action brought under (a) of this section, the dealer may obtain one or more of the following types of relief that apply to the specific action of the dealer: (1) damages suffered by the dealer as a result of the activity;

(2) an injunction enjoining the distributor from engaging in the activity;

(3) a requirement that the distributor make a payment or a purchase required by AS 45.45.700  45.45.790;

(4) any other relief determined by the court to be appropriate under the circumstances.

(c) In this section, activity prohibited under AS 45.45.700  45.45.790 means (1) coercion or attempted coercion under AS 45.45.700 ;

(2) terminating a distributorship agreement without paying the dealer as required by AS 45.45.710 ;

(3) failing to pay the dealer within the time established by AS 45.45.720 ;

(4) failing to provide the statement of account as required by AS 45.45.720 ;

(5) failing to make a repurchase payment required by AS 45.45.730 ;

(6) failing to make a purchase as required by AS 45.45.740 (a)(1);

(7) failing to make the reimbursement required by AS 45.45.740 (a)(2); or

(8) violating AS 45.45.750 .
Alaska Stat. § 45.25.520 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.520
Form of disclosures.
Status: in_force

Except as provided in AS 45.25.460 (a)(6)(A), if a disclosure is required by this chapter with respect to a motor vehicle advertisement, the disclosure must be made in a clear and conspicuous manner.
Alaska Stat. § 45.53.040 — AK Code / Title 45 / Chapter 45.53 / Section 45.53.040
Certification of compliance; civil actions.
Status: in_force

(a) A tobacco product manufacturer that elects to comply with AS 45.53.020 by placing money into escrow under that section shall annually, at the time of compliance, certify to the commissioner of revenue that it is in compliance with AS 45.53.020 .

(b) If the commissioner of revenue does not timely receive a certification of compliance from a tobacco product manufacturer as required by (a) of this section, the commissioner shall notify the attorney general. The attorney general shall require the manufacturer, within 15 days, to place into a qualified escrow fund the money necessary to bring the manufacturer into compliance with AS 45.53.020 . The attorney general may bring a civil action on behalf of the state against a tobacco product manufacturer that fails to place into a qualified escrow fund the money necessary to bring the manufacturer into compliance with AS 45.53.020 . The court, upon a finding of a tobacco product manufacturer's (1) violation of AS 45.53.020 , shall require the manufacturer, within 15 days, to place into a qualified escrow fund the money necessary to bring the manufacturer into compliance with AS 45.53.020 and may impose a civil penalty, in an amount not to exceed five percent of the amount improperly withheld from escrow, for each day of the violation; the total amount of the penalty under this paragraph may not exceed 100 percent of the original amount improperly withheld from escrow;

(2) knowing violation of AS 45.53.020 , shall require the manufacturer, within 15 days, to place into a qualified escrow fund the money necessary to bring the manufacturer into compliance with AS 45.53.020 and may impose a civil penalty, in an amount not to exceed 15 percent of the amount improperly withheld from escrow, for each day of the violation; the total amount of the penalty under this paragraph may not exceed 300 percent of the original amount improperly withheld from escrow; and

(3) second knowing violation of AS 45.53.020 , shall require the manufacturer, within 15 days, to place into a qualified escrow fund the money necessary to bring the manufacturer into compliance with AS 45.53.020 , and may impose a monetary penalty as described in (2) of this subsection, and shall prohibit the manufacturer from selling cigarettes to consumers within the state, whether directly or through a distributor, retailer, or similar intermediary, for a period not to exceed two years.

(c) In addition to the civil penalties described in (b) of this section, the court may award the state full reasonable attorney fees and costs if the state prevails in a civil action brought under (b) of this section.

(d) Each failure to make an annual placement of money into a qualified escrow fund as required by AS 45.53.020 is a separate violation for the purposes of this section.
Alaska Stat. § 45.03.604 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.604
Discharge by cancellation or renunciation.
Status: in_force

(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (1) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the addition of words to the instrument indicating discharge; or

(2) by agreeing not to sue or otherwise renouncing rights against the party by a signed writing.

(b) Cancellation or striking out of an endorsement under (a) of this section does not affect the status and rights of a party derived from the endorsement.
Alaska Stat. § 45.56.620 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.620
Public records; confidentiality.
Status: in_force

(a) Except as otherwise provided in (b) of this section, records obtained by the administrator or filed under this chapter, including a record contained in or filed with a registration statement, application, notice filing, or report are public records and are available for public examination under AS 40.25.100  40.25.295 (Alaska Public Records Act).

(b) The following records are not public records under AS 40.25.100  40.25.295 (Alaska Public Records Act) and are not available for public examination under (a) of this section: (1) a record obtained by the administrator in connection with an audit, examination or inspection under AS 45.56.420 (d) or an investigation under 45.56.680;

(2) a part of a record filed in connection with a registration statement under AS 45.56.100 and 45.56.170  45.56.190 or a record under AS 45.56.420 (d) that contains trade secrets or confidential information if the person filing the registration statement or report has asserted a claim of confidentiality or privilege that is authorized by law;

(3) a record that is not required to be provided to the administrator or filed under this chapter and is provided to the administrator only on the condition that the record may not be subject to public examination or disclosure;

(4) a nonpublic record received from a person specified in AS 45.56.630 (a); and

(5) a social security number, residential address unless used as a business address, and residential telephone number unless used as a business telephone number, contained in a record that is filed.

(c) If disclosure is for the purpose of a civil, administrative, or criminal investigation, action, or proceeding or to a person specified in AS 45.56.630 (a), the administrator may disclose a record obtained in connection with an audit or inspection under AS 45.56.420 (d) or a record obtained in connection with an investigation under AS 45.56.680 .
Alaska Stat. § 45.29.516 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.516
What constitutes filing; effectiveness of filing.
Status: in_force

(a) Except as otherwise provided in (b) of this section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing.

(b) Filing does not occur with respect to a record that a filing office refuses to accept because (1) the record is not communicated by a method or medium of communication authorized by the filing office;

(2) an amount equal to or greater than the applicable filing fee is not tendered;

(3) the filing office is unable to index the record because, in the case of (A) an initial financing statement, the record does not provide a name for the debtor;

(B) an amendment or information statement, the record (i) does not identify the initial financing statement as required by AS 45.29.512 or 45.29.518, as applicable; or

(ii) identifies an initial financing statement whose effectiveness has lapsed under AS 45.29.515 ;

(C) an initial financing statement that provides the name of a debtor identified as an individual or an amendment that provides a name of a debtor identified as an individual that was not previously provided in the financing statement to which the record relates, the record does not identify the debtor's surname;

(D) a record filed in the filing office described in AS 45.29.501 (a)(1) that relates to real property, the record does not provide a sufficient description of the real property to which it relates; or

(E) a fixture filing or other filing allowed to be filed for record in a filing office described in AS 45.29.501 (a)(1), the filing does not provide the name of the debtor and record owner;

(4) in the case of an initial financing statement or an amendment that adds a secured party of record, the record does not provide a name and mailing address for the secured party of record;

(5) in the case of an initial financing statement or an amendment that provides a name of a debtor that was not previously provided in the financing statement to which the amendment relates, the record does not (A) provide a mailing address for the debtor; or

(B) indicate whether the name provided as the name of the debtor is the name of an individual or an organization;

(6) in the case of an assignment reflected in an initial financing statement under AS 45.29.514 (a) or an amendment filed under AS 45.29.514 (b), the record does not provide a name and mailing address for the assignee;

(7) in the case of a continuation statement, the record is not filed within the six-month period prescribed by AS 45.29.515 (d); or

(8) the record is not communicated on a form authorized by filing office regulation.

(c) For purposes of (b) of this section, a record (1) does not provide information if the filing office is unable to read or decipher the information; and

(2) that does not indicate that it is an amendment or identify an initial financing statement to which it relates as required by AS 45.29.512 , 45.29.514, or 45.29.518 is an initial financing statement.

(d) A record that is communicated to the filing office with tender of the filing fee, but which the filing office refuses to accept for a reason other than one set out in (b) of this section, is effective as a filed record except as against a purchaser of the collateral who gives value in reasonable reliance on the absence of the record from the files.
Alaska Stat. § 45.75.288 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.288
Furnace and stove oil.
Status: in_force

Furnace and stove oil shall be sold by liquid measure or by net weight. When a delivery of liquid fuel is made in non-package form and in an amount greater than 10 gallons if the sale is by liquid measure, 100 pounds or greater if the sale is by weight, the purchaser shall receive from the vendor a delivery ticket or written statement that clearly states in ink or by means of other indelible marking equipment equal in clarity to type or printing (1) the name and address of the vendor;

(2) the name and address of the purchaser;

(3) the identity of the type of fuel delivered;

(4) the price per gallon or per pound of the fuel delivered;

(5) if a sale is by liquid measure, the liquid volume of the delivery, together with any meter readings from which the liquid volume was computed, expressed in terms of the gallon and its binary or decimal subdivisions; and

(6) if a sale by weight, the net weight of the delivery, together with any weighing scale readings from which the net weight was computed, expressed in terms of tons or pounds avoirdupois.
Alaska Stat. § 45.45.300 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.300
Repairs required.
Status: in_force

If a new motor vehicle does not conform to an express warranty that is applicable to it and the owner of the vehicle reports the defect or condition to the manufacturer of the vehicle or to the manufacturer's or distributor's dealer during the term of the warranty, the manufacturer, distributor, dealer, or a repairing agent shall make the necessary repairs to conform the vehicle to the express warranty.
Alaska Stat. § 45.29.404 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.404
Rights acquired by assignee; claims and defenses against assignee.
Status: in_force

(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to (b)  (e) of this section, the rights of an assignee are subject to (1) all terms of the agreement between the account debtor and assignor and a defense or claim in recoupment arising from the transaction that gave rise to the contract; and

(2) any other defense or claim of the account debtor against the assignor that accrues before the account debtor receives a notification of the assignment authenticated by the assignor or the assignee.

(b) Subject to (c) of this section and except as otherwise provided in (d) of this section, the claim of an account debtor against an assignor may be asserted against an assignee under (a) of this section only to reduce the amount the account debtor owes.

(c) This section is subject to law other than this chapter that establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.

(d) In a consumer transaction, if a record evidences the account debtor's obligation, law other than this chapter requires that the record include a statement to the effect that the account debtor's recovery against an assignee with respect to claims and defenses against the assignor may not exceed amounts paid by the account debtor under the record, and the record does not include the statement, the extent to which a claim of an account debtor against the assignor may be asserted against an assignee is determined as if the record included the statement.

(e) This section does not apply to an assignment of a health care insurance receivable.
Alaska Stat. § 45.75.400 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.400
Short title.
Status: in_force

This chapter may be cited as the Weights and Measures Act.
Alaska Stat. § 45.08.205 — AK Code / Title 45 / Chapter 45.08 / Section 45.08.205
Effect of unauthorized signature on security certificate.
Status: in_force

An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by (1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or

(2) an employee of the issuer, or of a person listed in (1) of this section, entrusted with responsible handling of the security certificate.
Alaska Stat. § 45.50.010 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.010
Registrability.
Status: reserved

(a) A mark may not be registered if it consists of or comprises (1) immoral, deceptive, or scandalous matter;

(2) matter that may disparage or falsely suggest a connection with persons, living or dead, institutions, beliefs, or national symbols, or bring them into contempt or disrepute;

(3) the flag, coat of arms, or other insignia of the United States, this or another state, a municipality of this or another state, a foreign nation, or simulation of any of these;

(4) the name, signature, or portrait identifying a living individual, except with the written consent of the individual;

(5) a mark that, (A) when used on or in connection with goods or services of the applicant, is merely descriptive or deceptively misdescriptive of them; (B) when used on or in connection with the goods or services of the applicant, is primarily geographically descriptive or deceptively misdescriptive of them; (C) is primarily merely a surname; however, this paragraph does not prevent the registration of a mark used by the applicant that has become distinctive of the applicant's goods or services; the commissioner may accept as evidence that the mark has become distinctive, as used on or in connection with the applicant's goods or services, proof of continuous use of the mark as a mark by the applicant in this state for the five years immediately preceding the date on which the claim of distinctiveness is made;

(6) a mark that so resembles a mark registered in the state or in the United States Patent and Trademark Office, or a mark previously used by another and not abandoned, as to be likely, when used on or in connection with the goods or services of the applicant, to cause confusion or mistake or to deceive; or

(7) a mark that so resembles the name of another organized entity, or a reserved or registered name, that the mark is likely to cause confusion or mistake or to deceive; the form of operation of the organized entity without the mark, or of the person without the mark who holds the right to the reserved or registered name, is not a factor in determining whether the mark resembles a name under this paragraph; in this paragraph, organized entity and reserved or registered name have the meanings given in AS 10.35.040 .

(b) For purposes of this section, (1) descriptive means a word or combination of words that describes one or more of the characteristics of the goods or services, such as, what the goods or services are, what the goods are made of, or what the goods or services are used for; however, an otherwise descriptive word or combination of words can, as a secondary meaning, become accepted as identifying the goods or services of the applicant, in which case it is no longer merely descriptive;

(2) misdescriptive means a word or combination of words that falsely describes the nature, function, or capacity of goods or services.
Alaska Stat. § 45.12.513 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.513
Cure by lessor of improper tender or delivery; replacement.
Status: in_force

(a) If a tender or delivery by the lessor or the supplier is rejected because it is nonconforming and the time for performance has not yet expired, the lessor or the supplier may seasonably notify the lessee of the lessor's or the supplier's intention to cure and may then make a conforming delivery within the time provided in the lease contract.

(b) If the lessee rejects a nonconforming tender that the lessor or the supplier had reasonable grounds to believe would be acceptable with or without money allowance, the lessor or the supplier may have a further reasonable time to substitute a conforming tender if the lessor or supplier seasonably notifies the lessee.
Alaska Stat. § 45.02.326 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.326
Sale on approval and sale or return; rights of creditors.
Status: in_force

(a) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is (1) a sale on approval if the goods are delivered primarily for use; and

(2) a sale or return if the goods are delivered primarily for resale.

(b) Goods held on approval are not subject to the claims of the buyer's creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer's possession.

(c) An or return term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section ( AS 45.02.201 ), and as contradicting the sale aspect of the contract within the provisions on parol or extrinsic evidence ( AS 45.02.202 ).

(d) Whenever an artist delivers or causes to be delivered a work of fine art of the artist's creation to an art dealer for the purpose of sale, or exhibition and sale to the public on a commission or fee or other basis of compensation, the work of fine art is not subject to the claims of the art dealer's creditors. For the purposes of this subsection, (1) art dealer means a person other than a public auctioneer engaged in the business of selling works of fine art;

(2) artist means the creator of a work of fine art;

(3) fine art includes a painting, sculpture, drawing, photograph, or work of graphic art.
Alaska Stat. § 45.48.990 — AK Code / Title 45 / Chapter 45.48 / Section 45.48.990
Definitions.
Status: in_force

In this chapter, unless the context indicates otherwise, (1) consumer means an individual;

(2) consumer credit reporting agency means a person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages, in whole or in part, in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing credit reports to third parties;

(3) credit report means a consumer report that a consumer credit reporting agency furnishes to a person that the consumer credit reporting agency has reason to believe intends to use the consumer report as a factor in establishing the consumer's eligibility for credit to be used primarily for personal, family, or household purposes; in this paragraph, consumer report has the meaning given to consumer report in 15 U.S.C. 1681a(d) (Fair Credit Reporting Act), except that consumer reporting agency in 15 U.S.C. 1681a(d) is to be read as consumer credit reporting agency;

(4) Fair Credit Reporting Act means 15 U.S.C. 1681  1681x;

(5) Gramm-Leach-Bliley Financial Modernization Act means 15 U.S.C. 6801  6827;

(6) identity theft means the theft of the identity of an individual;

(7) information system means any information system, including a system consisting of digital databases and a system consisting of pieces of paper;

(8) person has the meaning given in AS 01.10.060 and includes a state or local governmental agency, except for an agency of the judicial branch;

(9) state resident means an individual who satisfies the residency requirements under AS 01.10.055 .
Alaska Stat. § 45.53.030 — AK Code / Title 45 / Chapter 45.53 / Section 45.53.030
Regulations.
Status: in_force

The commissioner of revenue shall adopt regulations under AS 44.62 (Administrative Procedure Act) necessary to ascertain the amount of excise tax paid on the cigarettes of a tobacco product manufacturer for each year for which the manufacturer is required to place money into a qualified escrow fund under AS 45.53.020 .
Alaska Stat. § 45.29.332 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.332
Transfer of money; transfer of funds from deposit account.
Status: in_force

(a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party.

(b) A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party.
Alaska Stat. § 45.02.205 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.205
Firm offers.
Status: in_force

An offer by a merchant to buy or sell goods in a signed writing that by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time, but in no event may the period or irrevocability exceed three months. A term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Alaska Stat. § 45.63.020 — AK Code / Title 45 / Chapter 45.63 / Section 45.63.020
Written contract required.
Status: in_force

Until a telephone seller receives from a buyer a signed, written contract for the purchase, the telephone seller may not solicit payment for the purchase, charge a credit card account for the purchase, negotiate a check or other commercial instrument intended for payment of the purchase, or accept a cash payment for the purchase. The written contract must notify the buyer of the rights of the buyer under AS 45.63.030 (a) and disclose the information required by the department by regulation.
Alaska Stat. § 45.07.503 — AK Code / Title 45 / Chapter 45.07 / Section 45.07.503
Document of title to goods defeated in certain cases.
Status: in_force

(a) A document of title confers no right in goods against a person who, before issuance of the document, had a legal interest or a perfected security interest in the goods and who did not (1) deliver or entrust the goods or a document of title covering the goods to the bailor or the bailor's nominee with (A) actual or apparent authority to ship, store, or sell;

(B) power to obtain delivery under AS 45.07.403 ; or

(C) power of disposition under AS 45.02.403 , AS 45.12.304 (b), 45.12.305(b), AS 45.29.320 , 45.29.321(c) or other statute or rule of law; or

(2) acquiesce in the procurement by the bailor or its nominee of a document.

(b) Title to goods based upon an unaccepted delivery order is subject to the rights of a person to whom a negotiable warehouse receipt or bill of lading covering the goods has been duly negotiated. That title may be defeated under AS 45.07.504 to the same extent as the rights of the issuer or a transferee from the issuer.

(c) Title to goods based upon a bill of lading issued to a freight forwarder is subject to the rights of a person to whom a bill issued by the freight forwarder is duly negotiated. However, delivery by the carrier in accordance with AS 45.07.401  45.07.404 under its own bill of lading discharges the carrier's obligation to deliver.
Alaska Stat. § 45.81.020 — AK Code / Title 45 / Chapter 45.81 / Section 45.81.020
Eligibility for grants.
Status: in_force

(a) A new business or a business that is opening a new branch in the state is eligible for a new business incentive grant if (1) the business is primarily engaged in manufacturing a product for export outside of the state;

(2) the business will not directly compete with an existing business that is located in the state as determined by the department;

(3) for a business located in a municipality, the municipality has provided support to the business in a form and in an amount acceptable to the department;

(4) the business is primarily financed by the private sector; and

(5) the business has been recommended as complying with the requirements for a business incentive grant by the Alaska Industrial Development and Export Authority.

(b) The department shall prescribe by regulation the standards for new business incentive grant eligibility and the form and procedure for submitting grant applications. Subject to the availability of money in the new business incentive fund, the department may award a grant to an eligible applicant in an amount that does not exceed the amount recommended by the Alaska Industrial Development and Export Authority for that applicant.
Alaska Stat. § 45.29.322 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.322
Priorities among conflicting security interests in and agricultural liens on same collateral.
Status: in_force

(a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules: (1) conflicting perfected security interests and agricultural liens rank according to priority in time of filing or perfection; priority dates from the earlier of the time a filing covering the collateral is first made or the security interest or agricultural lien is first perfected if there is no period thereafter when there is neither filing nor perfection;

(2) a perfected security interest or agricultural lien has priority over a conflicting unperfected security interest or agricultural lien;

(3) the first security interest or agricultural lien to attach or become effective has priority if conflicting security interests and agricultural liens are unperfected.

(b) For the purposes of (a)(1) of this section, the time of filing or perfection as to a security interest in collateral (1) is also the time of filing or perfection as to a security interest in proceeds; and

(2) supported by a supporting obligation is also the time of filing or perfection as to a security interest in the supporting obligation.

(c) Except as otherwise provided in (f) of this section, a security interest in collateral that qualifies for priority over a conflicting security interest under AS 45.29.327 , 45.29.328, 45.29.329, 45.29.330, or 45.29.331 also has priority over a conflicting security interest in (1) supporting obligation for the collateral; and

(2) proceeds of the collateral if (A) the security interest in proceeds is perfected;

(B) the proceeds are cash proceeds or of the same type as the collateral; and

(C) in the case of proceeds that are proceeds of proceeds, all intervening proceeds are cash proceeds, proceeds of the same type as the collateral, or an account relating to the collateral.

(d) Subject to (e) of this section and except as otherwise provided in (f) of this section, if a security interest in chattel paper, deposit accounts, negotiable documents, instruments, investment property, or letter-of-credit rights is perfected by a method other than filing, conflicting perfected security interests in proceeds of the collateral rank according to priority in time of filing.

(e) The provisions of (d) of this section apply only if the proceeds of the collateral are not cash proceeds, chattel paper, negotiable documents, instruments, investment property, or letter-of-credit rights.

(f) The provisions of (a)  (e) of this section are subject to (1) the provisions of (g) of this section and the other provisions of AS 45.29.301  45.29.342;

(2) AS 45.04.210 with respect to a security interest of a collecting bank;

(3) AS 45.05.118 with respect to a security interest of an issuer or nominated person; and

(4) AS 45.29.110 with respect to a security interest arising under AS 45.02 or AS 45.12 .

(g) A perfected agricultural lien on collateral has priority over a conflicting security interest in or agricultural lien on the same collateral if the statute creating the agricultural lien so provides.
Alaska Stat. § 45.35.030 — AK Code / Title 45 / Chapter 45.35 / Section 45.35.030
Late fees.
Status: in_force

(a) A lessor may not charge a consumer more than $5 for each payment that is late under a lease-purchase agreement.

(b) When calculating time for the purpose of determining whether a lease payment is late and subject to a late fee under a lease-purchase agreement, a lessor may not include any period of time when the personal property has been repossessed by the lessor or voluntarily surrendered by the consumer.
Alaska Stat. § 45.12.208 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.208
Modification, rescission, and waiver.
Status: in_force

(a) An agreement modifying a lease contract does not need consideration to be binding.

(b) A signed lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement on a form supplied by a merchant must be separately signed by the other party.

(c) Although an attempt at modification or rescission does not satisfy the requirements of (b) of this section, it may operate as a waiver.

(d) A party who has made a waiver affecting an executory portion of a lease contract may retract the waiver by reasonable notification received by the other party that strict performance will be required of any term waived, unless the retraction would be unjust in view of a material change of position in reliance on the waiver.
Alaska Stat. § 45.65.040 — AK Code / Title 45 / Chapter 45.65 / Section 45.65.040
Identification seal.
Status: reserved

(a) The identification seal may only be used after receiving a permit from the council.

(b) [Repealed, § 14 ch 16 SLA 2008.] (c) The council shall establish forms and fees for the applications and permits to be used or issued under this section, the period for which the permits are valid, and the procedures for renewing the permits.

(d) Before issuing a permit to a person under (a) of this section, the council shall determine that the person is eligible under AS 45.65.010 (a) to obtain the identification seal and that the article for which the person is applying for the permit is eligible under AS 45.65.010 (a) for the identification seal.

(e) A person may report alleged violations of AS 45.65.010  45.65.070 regarding identification seals to the council.
Alaska Stat. § 45.29.407 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.407
Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
Status: in_force

(a) Except as otherwise provided in (b) of this section, a term in a lease agreement is ineffective to the extent that it (1) prohibits, restricts, or requires the consent of a party to the lease to the assignment, transfer, creation, attachment, perfection, or enforcement of a security interest in an interest of a party under the lease contract or in the lessor's residual interest in the goods; or

(2) provides that the assignment, transfer, creation, attachment, perfection, or enforcement of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the lease.

(b) Except as otherwise provided in AS 45.12.303 (g), a term described in (a)(2) of this section is effective to the extent that there is (1) a transfer by the lessee of the lessee's right of possession or use of the goods in violation of the term; or

(2) a delegation of a material performance of either party to the lease contract in violation of the term.

(c) The creation, attachment, perfection, or enforcement of a security interest in the lessor's interest under the lease contract or the lessor's residual interest in the goods is not a transfer that materially impairs the lessee's prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of AS 45.12.303 (d) unless, and then only to the extent that, enforcement actually results in a delegation of material performance of the lessor.
Alaska Stat. § 45.03.206 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.206
Restrictive endorsement.
Status: in_force

(a) An endorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument.

(b) An endorsement stating a condition to the right of the endorsee to receive payment does not affect the right of the endorsee to enforce the instrument. A person paying the instrument or taking it for value or collection may disregard the condition, and the rights and liabilities of that person are not affected by whether the condition has been fulfilled.

(c) If an instrument bears an endorsement described in AS 45.04.201 (b), or an endorsement in blank or to a particular bank using the words for deposit, for collection, or other words indicating a purpose of having the instrument collected by a bank for the endorser or for a particular account, the following rules apply: (1) a person, other than a bank, who purchases the instrument when so endorsed converts the instrument unless the amount paid for the instrument is received by the endorser or applied consistently with the endorsement;

(2) a depositary bank that purchases the instrument or takes it for collection when so endorsed converts the instrument unless the amount paid by the bank with respect to the instrument is received by the endorser or applied consistently with the endorsement;

(3) a payor bank that is also the depositary bank or that takes the instrument for immediate payment over the counter from a person other than a collecting bank converts the instrument unless the proceeds of the instrument are received by the endorser or applied consistently with the endorsement; and

(4) except as otherwise provided in (3) of this subsection, a payor bank or intermediary bank may disregard the endorsement and is not liable if the proceeds of the instrument are not received by the endorser or applied consistently with the endorsement.

(d) Except for an endorsement covered by (c) of this section, if an instrument bears an endorsement using words to the effect that payment is to be made to the endorsee as agent, trustee, or other fiduciary for the benefit of the endorser or another person, the following rules apply: (1) unless there is notice of breach of fiduciary duty as provided in AS 45.03.307 , a person who purchases the instrument from the endorsee or takes the instrument from the endorsee for collection or payment may pay the proceeds of payment or the value given for the instrument to the endorsee without regard to whether the endorsee violates a fiduciary duty to the endorser; and

(2) a subsequent transferee of the instrument or person who pays the instrument is neither given notice nor otherwise affected by the restriction in the endorsement unless the transferee or payor knows that the fiduciary dealt with the instrument or its proceeds in breach of a fiduciary duty.

(e) The presence on an instrument of an endorsement to which this section applies does not prevent a purchaser of the instrument from becoming a holder in due course of the instrument unless the purchaser is a converter under (c) of this section or has notice or knowledge of breach of fiduciary duty as stated in (d) of this section.

(f) In an action to enforce the obligation of a party to pay the instrument, the obligor has a defense if payment would violate an endorsement to which this section applies and the payment is not permitted by this section.
Alaska Stat. § 45.45.930 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.930
Opt-out marketing plans.
Status: in_force

(a) Notwithstanding a provision in AS 45.02 to the contrary, a seller may not use an opt-out marketing plan to sell goods or services unless the seller complies with all of the provisions of this section.

(b) Before using an opt-out marketing plan, a seller shall obtain express verifiable consent from the buyer that confirms that the buyer agrees to the use of the plan. The seller shall provide the following information before obtaining the consent: (1) a description of the material terms and conditions of the plan, including a description of the goods or services that will be offered;

(2) that the buyer's account will be charged unless the buyer takes an affirmative action to avoid the charge;

(3) the date the charge will be submitted for payment; and

(4) the specific steps the buyer must take to avoid the charge.

(c) A seller who charges a buyer for goods or services under an opt-out marketing plan has the burden of proving that the buyer provided the express verifiable consent required by (b) of this section and was given the disclosures required by (b) of this section.

(d) This section does not apply to a telephonic seller who is registered under AS 45.63 and who complies with AS 45.63 .

(e) In this section, (1) opt-out marketing plan (A) means an arrangement under which a seller provides, without the buyer's express verifiable consent, a notice to a buyer that identifies goods or services that the seller intends to provide to the buyer and to charge the buyer for, unless, by a specific date or within a specific time frame, the buyer notifies the seller not to provide the goods or services;

(B) does not include a prenotification negative option plan that is regulated by and complies with 16 C.F.R. Part 425;

(2) seller includes a person who engages in the business of selling, contracting for the sale of, or arranging for the sale of goods or services.
Alaska Stat. § 45.14.505 — AK Code / Title 45 / Chapter 45.14 / Section 45.14.505
Preclusion of objection to debit of customer's account.
Status: in_force

If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer.
Alaska Stat. § 45.75.100 — AK Code / Title 45 / Chapter 45.75 / Section 45.75.100
Inspection of packages.
Status: in_force

(a) The director shall, from time to time, weigh or measure and inspect packages or amounts of commodities kept, offered, or exposed for sale to determine whether they contain the amounts represented and whether they are kept, offered, or exposed for sale in accordance with law. When packages or amounts of commodities do not contain the amounts represented, or are kept, offered, or exposed for sale in violation of law, the director may order them off sale and may mark or tag them to show they are illegal. The director may use recognized sampling procedures. Compliance of a given lot of packages shall be determined on the basis of the result obtained on a sample selected from and representative of the lot.

(b) A person may not (1) sell, or keep, offer, or expose for sale in intrastate commerce a package or amount of commodity that has been ordered off sale or marked or tagged as provided in this section until the package or amount of commodity has been brought into full compliance with all legal requirements; or

(2) dispose of a package or amount of commodity that is ordered off sale or marked or tagged as provided in this section and that does not meet legal requirements, except with the specific approval of the director.
Alaska Stat. § 45.25.010 — AK Code / Title 45 / Chapter 45.25 / Section 45.25.010
Applicability.
Status: in_force

AS 45.25.020  45.25.310 apply to franchise agreements between a manufacturer and its new motor vehicle dealers in this state.
Alaska Stat. § 45.56.300 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.300
Broker-dealer registration requirement and exemptions.
Status: in_force

(a) A person may not transact business in this state as a broker-dealer unless the person is registered under this chapter as a broker-dealer or is exempt from registration as a broker-dealer under (b) of this section.

(b) The following persons are exempt from the registration requirement of (a) of this section: (1) a broker-dealer without a place of business in this state if the broker-dealer's only transactions effected in this state are with (A) the issuer of the securities involved in the transactions;

(B) a broker-dealer registered as a broker-dealer under this chapter or not required to be registered as a broker-dealer under this chapter;

(C) an institutional investor;

(D) 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;

(E) a bona fide preexisting customer whose principal place of residence is not in this state if the person is registered as a broker-dealer under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) or not required to be registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) and is registered under the securities act of the state in which the customer maintains a principal place of residence;

(F) a bona fide preexisting customer whose principal place of residence is in this state but who was not present in this state when the customer relationship was established if (i) the broker-dealer is registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) or not required to be registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) and is registered under the securities act of the state in which the customer relationship was established and where the customer had maintained a principal place of residence; and

(ii) within 45 days after the customer's first transaction in this state, the person files an application for registration as a broker-dealer in this state and a further transaction is not effected more than 75 days after the date on which the application is filed, or, if earlier, the date on which the administrator notifies the person that the administrator has denied the application for registration or has stayed the pendency of the application for good cause;

(G) not more than three customers in this state during the previous 12 months, in addition to those customers specified in (A)  (F) of this paragraph and under (H) of this paragraph if the broker-dealer is registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) or not required to be registered under 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934) and is registered under the securities act of the state in which the broker-dealer has its principal place of business; and

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

(2) a person that deals solely in United States government securities and is supervised as a dealer in government securities by the Board of Governors of the Federal Reserve System, the United States Comptroller of the Currency, or the Federal Deposit Insurance Corporation.

(c) A broker-dealer or an issuer engaged in offering, offering to purchase, purchasing, or selling securities in this state may not, directly or indirectly, employ or associate with an individual to engage in an activity related to securities transactions in this state if the registration of the individual is suspended or revoked or the individual is barred from employment or association with a broker-dealer, an issuer, an investment adviser, or a federal covered investment adviser by an order of the administrator under this chapter, the Securities and Exchange Commission, or a self-regulatory organization. A broker-dealer or issuer does not violate this subsection if the broker-dealer or issuer did not know and, in the exercise of reasonable care, could not have known of the suspension, revocation, or bar. Upon request from a broker-dealer or issuer and for good cause, an order under this chapter may modify or waive, in whole or in part, the application of the prohibitions of this subsection to the broker-dealer.
Alaska Stat. § 45.02.615 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.615
Excuse by failure of presupposed conditions.
Status: in_force

Except so far as a seller may have assumed a greater obligation and subject to the preceding section on substituted performance, (1) delay in delivery or nondelivery in whole or in part by a seller who complies with (2) and (3) of this section is not a breach of the seller's duty under a contract for sale if performance as agreed has been made impracticable by the occurrence of a contingency, the nonoccurrence of which was a basic assumption on which the contract was made or by compliance in good faith with an applicable foreign or domestic governmental regulation or order whether or not it later proves to be invalid;

(2) if the causes mentioned in (1) of this section affect only a part of the seller's capacity to perform, the seller must allocate production and deliveries among the seller's customers, but may at the seller's option include regular customers not then under contract as well as the seller's own requirements for further manufacture; the seller may so allocate in a manner that is fair and reasonable;

(3) the seller must notify the buyer seasonably that there will be delay or nondelivery and, when allocation is required under (2) of this section, of the estimated quota thus made available for the buyer.
Alaska Stat. § 45.50.588 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.588
Limitation of actions.
Status: in_force

An action to enforce a claim arising under AS 45.50.562  45.50.596 is barred unless commenced within four years after the claim accrues, except that when an action is brought by the attorney general under AS 45.50.562  45.50.596, the running of this period of limitation, with respect to every private right of action for damages that is based in whole or in part on a matter complained of in the action by the attorney general, shall be suspended during the pendency of the action brought by the attorney general. For the purpose of this section, a claim for a continuing violation is considered to accrue at any time during the period of the violation.
Alaska Stat. § 45.03.115 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.115
Incomplete instrument.
Status: in_force

(a) Incomplete instrument means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers.

(b) Subject to (c) of this section, if an incomplete instrument is an instrument under AS 45.03.104 , it may be enforced according to its terms if it is not completed, or according to its terms as augmented by completion. If an incomplete instrument is not an instrument under AS 45.03.104 but, after completion, the requirements of AS 45.03.104 are met, the instrument may be enforced according to its terms as augmented by completion.

(c) If words or numbers are added to an incomplete instrument without authority of the signer, there is an alteration of the incomplete instrument under AS 45.03.407 .

(d) The burden of establishing that words or numbers were added to an incomplete instrument without authority of the signer is on the person asserting the lack of authority.
Alaska Stat. § 45.07.506 — AK Code / Title 45 / Chapter 45.07 / Section 45.07.506
Delivery without endorsement; right to compel endorsement.
Status: in_force

The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply a necessary endorsement, but the transfer becomes a negotiation only as of the time the endorsement is supplied.
Alaska Stat. § 45.29.627 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.627
Determination of whether conduct was commercially reasonable.
Status: in_force

(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.

(b) A disposition of collateral is made in a commercially reasonable manner if the disposition is made (1) in the usual manner on any recognized market;

(2) at the price current in any recognized market at the time of the disposition; or

(3) otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.

(c) A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved (1) in a judicial proceeding;

(2) by a bona fide creditors' committee;

(3) by a representative of creditors; or

(4) by an assignee for the benefit of creditors.

(d) Approval under (c) of this section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.
Alaska Stat. § 45.81.190 — AK Code / Title 45 / Chapter 45.81 / Section 45.81.190
Disposal of property acquired by default or foreclosure.
Status: in_force

The Department of Commerce, Community, and Economic Development shall dispose of property acquired through default or foreclosure of a loan made under AS 45.81.100  45.81.190. Disposal shall be made in a manner that serves the best interests of the state, and may include the amortization of payments over a period of years.
Alaska Stat. § 45.50.551 — AK Code / Title 45 / Chapter 45.50 / Section 45.50.551
Civil penalties.
Status: reserved

(a) A person who violates the terms of an injunction or restraining order issued under AS 45.50.501 shall forfeit and pay to the state a civil penalty of not more than $50,000 for each violation. For the purposes of this section, the superior court in a judicial district issuing an injunction retains jurisdiction, and, in these cases, the attorney general acting in the name of the state may petition for recovery of the penalties.

(b) In an action brought under AS 45.50.501 , if the court finds that a person is using or has used an act or practice declared unlawful by AS 45.50.471 , the attorney general, upon petition to the court, may recover, on behalf of the state, a civil penalty of not less than $1,000 and not more than $25,000 for each violation.

(c) [Repealed by § 21 ch 166 SLA 1978.]
Alaska Stat. § 45.27.160 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.160
Timely reimbursement for claims.
Status: in_force

A manufacturer shall pay a properly submitted warranty claim of an authorized dealer within 30 days after receiving the claim from an authorized dealer. Unless a manufacturer issues a written notice of disapproval under AS 45.27.170 within the 30 days, if a manufacturer fails to pay a claim within 30 days after receipt, the failure is considered an acceptance of the claim as submitted, and the manufacturer shall pay the authorized dealer interest at the rate of 1.5 percent a month on the claim.
Alaska Stat. § 45.04.102 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.102
Applicability.
Status: in_force

(a) To the extent that items within this chapter are also within AS 45.03 and 45.08, they are subject to those chapters. If there is conflict, this chapter governs AS 45.03 , but AS 45.08 governs this chapter.

(b) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located. In the case of action or nonaction by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located.
Alaska Stat. § 45.03.402 — AK Code / Title 45 / Chapter 45.03 / Section 45.03.402
Signature by representative.
Status: in_force

(a) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the name of the signer, the represented person is bound by the signature to the same extent the represented person would be bound if the signature were on a simple contract. If the represented person is bound, the signature of the representative is the authorized signature of the represented person and the represented person is liable on the instrument, whether or not identified in the instrument.

(b) If a representative signs the name of the representative to an instrument and the signature is an authorized signature of the represented person, the following rules apply: (1) if the form of the signature shows unambiguously that the signature is made on behalf of the represented person who is identified in the instrument, the representative is not liable on the instrument; and

(2) subject to (c) of this section, if the form of the signature does not show unambiguously that the signature is made in a representative capacity or the represented person is not identified in the instrument, the representative is liable on the instrument to a holder in due course that took the instrument without notice that the representative was not intended to be liable on the instrument; with respect to another person, the representative is liable on the instrument unless the representative proves that the original parties did not intend the representative to be liable on the instrument.

(c) If a representative signs the name of the representative as drawer of a check without indication of the representative status and the check is payable from an account of the represented person who is identified on the check, the signer is not liable on the check if the signature is an authorized signature of the represented person.
Alaska Stat. § 45.29.342 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.342
Bank's right to refuse to enter into or disclose existence of control agreement.
Status: in_force

This chapter does not require a bank to enter into an agreement of the kind described in AS 45.29.104 (a)(2), even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.
Alaska Stat. § 45.12.104 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.104
Leases subject to other law.
Status: in_force

(a) A lease, although subject to this chapter, is also subject to an applicable (1) certificate of title statute of this state, including AS 28.10.201 ;

(2) certificate of title statute of another jurisdiction as provided in AS 45.12.105 ;

(3) consumer protection statute of this state, or final consumer protection decision of a court of this state existing on January 1, 1994; or

(4) provision of AS 36.30 (State Procurement Code).

(b) In case of conflict between this chapter, other than AS 45.12.105 , 45.12.304(c), and 45.12.305(c), and a statute or decision referred to in (a) of this section, the statute or decision controls.

(c) Failure to comply with an applicable law has only the effect specified in it.
Alaska Stat. § 45.29.617 — AK Code / Title 45 / Chapter 45.29 / Section 45.29.617
Rights of transferee of collateral.
Status: in_force

(a) A secured party's disposition of collateral after default (1) transfers to a transferee for value all of the debtor's rights in the collateral;

(2) discharges the security interest under which the disposition is made; and

(3) discharges any subordinate security interest or other subordinate lien.

(b) A transferee who acts in good faith takes free of the rights and interests described in (a) of this section even if the secured party fails to comply with this chapter or the requirements of a judicial proceeding.

(c) If a transferee does not take free of the rights and interests described in (a) of this section, the transferee takes the collateral subject to (1) the debtor's rights in the collateral;

(2) the security interest or agricultural lien under which the disposition is made; and

(3) any other security interest or other lien.
Alaska Stat. § 45.56.440 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.440
Denial, revocation, suspension, withdrawal, restriction, condition, or limitation of registration.
Status: in_force

(a) If the administrator finds that the order is in the public interest and (d) of this section authorizes the action, an order issued under this chapter may deny an application, or may condition or limit registration of an applicant to be a broker-dealer, agent, investment adviser, or investment adviser representative, and, if the applicant is a broker-dealer or investment adviser, of a partner, officer, director, or person having a similar status or performing similar functions, or a person directly or indirectly in control, of the broker-dealer or investment adviser.

(b) If the administrator finds that the order is in the public interest and (d) of this section authorizes the action, an order issued under this chapter may revoke, suspend, condition, or limit the registration of a registrant, and, if the registrant is a broker-dealer or investment adviser, of a partner, officer, director, or person having a similar status or performing similar functions, or a person directly or indirectly in control, of the broker-dealer or investment adviser. However, the administrator may not (1) institute a revocation or suspension proceeding under this subsection based on an order issued under a law of another state that is reported to the administrator or a designee of the administrator more than three years after the date of the order on which it is based; or

(2) under (d)(5)(A) and (B) of this section, issue an order based on an order issued under the securities act of another state unless the other order was based on conduct for which (d) of this section would authorize the action had the conduct occurred in this state.

(c) If the administrator finds that the order is in the public interest and (d)(1)  (6), (8)  (10), (12), or (13) of this section authorize the action, an order under this chapter may censure, impose a bar, or impose a civil penalty of not more than $100,000 for a single violation on a registrant and, if the registrant is a broker-dealer or investment adviser, on a partner, officer, director, or person having a similar status or performing similar functions, or on a person directly or indirectly in control of the broker-dealer or investment adviser.

(d) A person may be disciplined under (a)  (c) of this section if the person (1) has filed, within the previous 10 years under this chapter or former AS 45.55 , an application for registration in this state that, as of the effective date of registration or as of any date after filing in the case of an order denying effectiveness, was incomplete in any material respect or contained a statement that, in light of the circumstances under which it was made, was false or misleading with respect to a material fact;

(2) wilfully violated or wilfully failed to comply with this chapter or former AS 45.55 or a regulation adopted or order issued under this chapter or former AS 45.55 within the previous 10 years;

(3) has been convicted of a felony or within the previous 10 years has been convicted of a misdemeanor involving a security, a commodity future or option contract, or an aspect of a business involving securities, commodities, investments, franchises, insurance, banking, or finance;

(4) is enjoined or restrained by a court of competent jurisdiction in an action instituted by the administrator under this chapter or former AS 45.55 , by a state, by the Securities and Exchange Commission, or by the United States from engaging in or continuing an act, practice, or course of business involving an aspect of a business involving securities, commodities, investments, franchises, insurance, banking, or finance;

(5) is the subject of an order issued after notice and opportunity for hearing by (A) the securities or other financial services regulator of a state or the Securities and Exchange Commission or other federal agency denying, revoking, barring, or suspending registration as a broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative;

(B) the securities regulator of a state or the Securities and Exchange Commission against a broker-dealer, agent, investment adviser, investment adviser representative, or federal covered investment adviser;

(C) the Securities and Exchange Commission or a self-regulatory organization suspending or expelling the registrant from membership in the self-regulatory organization;

(D) a court adjudicating a United States Postal Service fraud order;

(E) the insurance regulator of a state denying, suspending, or revoking registration as an insurance agent; or

(F) a depository institution or financial services regulator suspending or barring the person from the depository institution or other financial services business;

(6) is the subject of an adjudication or determination, after notice and opportunity for hearing, by the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal Trade Commission, a federal depository institution regulator, or a depository institution, insurance, or other financial services regulator of a state that the person wilfully violated 15 U.S.C. 77a  77aa (Securities Act of 1933), 15 U.S.C. 78a  78pp (Securities Exchange Act of 1934), 15 U.S.C. 80b-1  80b-21 (Investment Advisers Act of 1940), 15 U.S.C. 80a-1  80a-64 (Investment Company Act of 1940), or 7 U.S.C. 1  27 (Commodity Exchange Act), the securities or commodities law of a state, or a federal or state law under which a business involving investments, franchises, insurance, banking, or finance is regulated;

(7) is insolvent, either because the person's liabilities exceed the person's assets or because the person cannot meet the person's obligations as they mature, but the administrator may not enter an order against an applicant or registrant under this paragraph without a finding of insolvency as to the applicant or registrant;

(8) refuses to allow or otherwise impedes the administrator from conducting an audit or inspection under AS 45.56.420 (d) or refuses access to a registrant's office to conduct an audit or inspection under AS 45.56.420 (d);

(9) has failed to reasonably supervise an agent, investment adviser representative, or other individual, if the agent, investment adviser representative, or other individual was subject to the person's supervision and committed a violation of this chapter or former AS 45.55 or a regulation adopted or order issued under this chapter or former AS 45.55 ;

(10) has not paid the proper filing fee within 30 days after having been notified by the administrator of a deficiency, but the administrator shall vacate an order under this paragraph when the deficiency is corrected;

(11) after notice and opportunity for a hearing, has been found (A) by a court of competent jurisdiction to have wilfully violated the laws of a foreign jurisdiction under which the business of securities, commodities, investment, franchises, insurance, banking, or finance is regulated;

(B) to have been the subject of an order of a securities regulator of a foreign jurisdiction denying, revoking, or suspending the right to engage in the business of securities as a broker-dealer, agent, investment adviser, investment adviser representative, or similar person; or

(C) to have been suspended or expelled from membership by or participation in a securities exchange or securities association operating under the securities laws of a foreign jurisdiction;

(12) is the subject of a cease and desist order issued by the Securities and Exchange Commission or issued under the securities, commodities, investment, franchise, banking, finance, or insurance laws of a state;

(13) has engaged in dishonest or unethical practices in the securities, commodities, investment, franchise, banking, finance, or insurance business;

(14) is not qualified based on factors that may include training, experience, and knowledge of the securities business; however, in the case of an application by an agent for a broker-dealer that is a member of a self-regulatory organization or by an individual for registration as an investment adviser representative, a denial order may not be based on this paragraph if the individual has successfully completed all examinations required by (e) of this section; the administrator may require an applicant for registration under AS 45.56.330 or 45.56.350 who has not been registered in a state within the two years preceding the filing of an application in this state to complete successfully an examination; or

(15) is a person whose license issuance or renewal is denied under AS 25.27.244 .

(e) A regulation adopted or order issued under this chapter may require that an examination, including an examination developed or approved by an organization of securities regulators, be successfully completed by a class of individuals or all individuals. An order issued under this chapter may waive, in whole or in part, an examination as to an individual and a regulation adopted under this chapter may waive, in whole or in part, an examination as to a class of individuals if the administrator determines that the examination is not necessary or appropriate in the public interest and for the protection of investors.

(f) The administrator may suspend or deny an application summarily; restrict, condition, limit, or suspend a registration; or censure, bar, or impose a civil penalty on a registrant before final determination of an administrative proceeding. Upon the issuance of an order, the administrator shall promptly notify each person subject to the order that the order has been issued, the reasons for the action, and that, within 15 days after the receipt of a request in a record from the person, the matter will be scheduled for a hearing. If a hearing is not requested and none is ordered by the administrator within 30 days after the date of service of the order, the order becomes final by operation of law. If a hearing is requested or ordered, the administrator, after notice of and opportunity for hearing to each person subject to the order, may modify or vacate the order or extend the order until final determination.

(g) An order may not be issued under this section, except under (f) of this section, without appropriate notice to the applicant or registrant, and an opportunity for hearing under AS 45.56.690 (c).

(h) A person that controls, directly or indirectly, a person not in compliance with this section may be disciplined by order of the administrator under (a)  (c) of this section to the same extent as the noncomplying person, unless the controlling person did not know, and in the exercise of reasonable care could not have known, of the existence of conduct that is a ground for discipline under this section.

(i) The administrator may not institute a proceeding under (a)  (c) of this section based solely on material facts actually known by the administrator unless an investigation or the proceeding is instituted within one year after the administrator actually acquires knowledge of the material facts.

Article 3. Fraud and Liabilities.
Alaska Stat. § 45.27.280 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.280
Resale without disclosure prohibited.
Status: in_force

A manufacturer may not resell in the state a product returned under AS 45.27.190 unless the manufacturer fully discloses to the prospective buyer before the resale is concluded the reason why the product was returned.
Alaska Stat. § 45.04.211 — AK Code / Title 45 / Chapter 45.04 / Section 45.04.211
When bank gives value for purposes of holder in due course.
Status: in_force

To determine its status as a holder in due course, a bank has given value to the extent it has a security interest in an item, if the bank otherwise complies with the requirements of AS 45.03.302 on what constitutes a holder in due course.
Alaska Stat. § 45.55.950 — AK Code / Title 45 / Chapter 45.55 / Section 45.55.950
Regulations, forms, orders, and hearings.
Status: in_force

(a) The administrator may make, adopt, amend, and rescind the regulations, forms, and orders that are necessary to carry out this chapter.

(b) A regulation, form, or order may not be made, adopted, amended, or rescinded unless the administrator finds that the action is necessary or appropriate in the public interest.

(c) All financial statements shall be prepared in accordance with generally accepted accounting practices. The administrator may by regulation or order prescribe (1) the form and content of financial statements required under this chapter;

(2) the circumstances under which consolidated financial statements shall be filed; and

(3) whether any required financial statements shall be certified by independent or certified public accountants.

(d) A provision of this chapter imposing liability does not apply to an act done or omitted in good faith in conformity with a regulation, form, or order of the administrator, notwithstanding that the regulation, form, or order may be later amended or rescinded or be determined by judicial or other authority to be invalid.

(e) Every hearing in an administrative proceeding shall be public unless the administrative law judge, in the exercise of discretion, grants a request joined in by all the respondents that the hearing be conducted privately.
Alaska Stat. § 45.02.328 — AK Code / Title 45 / Chapter 45.02 / Section 45.02.328
Sale by auction.
Status: reserved

(a) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale.

(b) A sale by auction is complete when the auctioneer so announces by the fall of the hammer or in other customary manner. Where a bid is made while the hammer is falling in acceptance of a prior bid, the auctioneer has discretion to reopen the bidding or declare the goods sold under the bid on which the hammer was falling.

(c) A sale by auction is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve, the auctioneer may withdraw the goods at any time until the auctioneer announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time. In either case a bidder may retract a bid until the auctioneer's announcement of completion of the sale, but a bidder's retraction does not revive any previous bid.

(d) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for the bidding is reserved, the buyer has the option to avoid the sale or take the goods at the price of the last good faith bid before the completion of the sale. This subsection does not apply to a bid at a forced sale.
Alaska Stat. § 45.66.130 — AK Code / Title 45 / Chapter 45.66 / Section 45.66.130
Cancellation of contract.
Status: in_force

(a) A buyer may cancel a contract for any reason if the buyer gives notice of the cancellation to the seller within 30 days after signing the contract.

(b) In addition to the right to cancel under (a) of this section, a buyer may cancel the contract at any time if the seller (1) failed to comply with AS 45.66.080 or 45.66.090;

(2) used untrue, misleading, incomplete, or deceptive statements in any aspect of advertising, promoting, selling, or offering to sell a business opportunity;

(3) fails, within 30 days after the delivery date specified in the contract, to deliver the products, equipment, supplies, or services required under the contract to begin substantial operation of the business to be started under the contract; or

(4) fails to provide a location for the business to be started under the contract if the contract requires the seller to provide a location.

(c) If provided by mail, the buyer's notice of cancellation is effective when it is deposited in the mail properly addressed to the seller with postage prepaid.

(d) The notice of cancellation is not required to have a particular form. The notice is sufficient if it indicates in writing the intention of the buyer not to be bound by the contract.

(e) Within 15 days after the date the buyer gives a notice of cancellation under this section, the seller shall refund to the buyer any payments, including payments for shipping costs, made by the buyer and terminate all financial obligations of the buyer under the contract. Within five days after receiving the refund, the buyer shall make available to the seller, at a reasonable time and place, any products, equipment, or supplies delivered by the seller.
Alaska Stat. § 45.45.060 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.060
Contract not usurious because of agreement to pay taxes.
Status: in_force

A contract made in the state between borrower and lender, debtor and creditor, or mortgagor and mortgagee, on which the rate of interest is the legal rate of interest specified in AS 45.45.010 or less, by which one party agrees to pay the taxes on the debt, credit, or mortgage existing or entered into between the parties, is legal and valid and is not usurious.
Alaska Stat. § 45.27.320 — AK Code / Title 45 / Chapter 45.27 / Section 45.27.320
Jurisdiction; venue.
Status: in_force

(a) This state has jurisdiction over a legal dispute between a manufacturer located in or outside this state and an authorized dealer located in this state, and the dispute is governed by, interpreted, and adjudicated under the law of this state.

(b) Venue for court action involving a dispute under (a) of this section is in the judicial district of this state in which the authorized dealer's principal place of business is located.
Alaska Stat. § 45.45.400 — AK Code / Title 45 / Chapter 45.45 / Section 45.45.400
Prohibited transfer of used motor vehicles.
Status: in_force

(a) A person engaged in the business of selling used motor vehicles may not transfer or assign the owner's title or interest in the used vehicle to a person who resides in an area subject to a state-approved emission inspection program established under AS 46.14.400 or 46.14.510 and who intends to use the vehicle in that area, unless the vehicle displays a valid emissions inspection decal, has a valid record of emissions inspection with the Department of Administration, or has a certificate of inspection, even though the certificate shows that the vehicle is not in compliance with program requirements as required under the air pollution control requirements applicable in that area.

(b) This section does not apply to a motor vehicle that when manufactured did not have a pollution control system.

Article 8. Rental Car Fees.
Alaska Stat. § 45.56.995 — AK Code / Title 45 / Chapter 45.56 / Section 45.56.995
Short title.
Status: in_force

This chapter may be cited as the Alaska Securities Act.
Alaska Stat. § 45.12.523 — AK Code / Title 45 / Chapter 45.12 / Section 45.12.523
Lessor's remedies.
Status: in_force

(a) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the whole, then, with respect to the 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 ( AS 45.12.510 ), the lessee is in default under the lease contract and the lessor may (1) cancel the lease contract ( AS 45.12.505 (a));

(2) proceed respecting goods not identified to the lease contract under AS 45.12.524 ;

(3) withhold delivery of the goods and under AS 45.12.525 take possession of goods previously delivered;

(4) stop delivery of the goods by a bailee under AS 45.12.526 ;

(5) dispose of the goods under AS 45.12.527 and recover damages, or retain the goods and recover damages under AS 45.12.528 , or in a proper case recover rent under AS 45.12.529 ;

(6) exercise any other rights or pursue any other remedies provided in the lease contract.

(b) If a lessor does not fully exercise a right or obtain a remedy to which the lessor is entitled under (a) of this section, the lessor may recover the loss resulting in the ordinary course of events from the lessee's default as determined in any reasonable manner, together with incidental damages, less expenses saved in consequence of the lessee's default.

(c) If a lessee is otherwise in default under a lease contract, the lessor may exercise the rights and pursue the remedies provided in the lease contract, which may include a right to cancel the lease. In addition, unless otherwise provided in the lease contract, (1) if the default substantially impairs the value of the lease contract to the lessor, the lessor may exercise the rights and pursue the remedies provided in (a) or (b) of this section; or

(2) if the default does not substantially impair the value of the lease contract to the lessor, the lessor may recover as provided in (b) of this section.