reglab/statecodes huggingface dataset:
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 3. Perfection and Priority. › Sec. 45.29.337. Priority of security interests in goods covered by certificate of title.

If, while a security interest in goods is perfected by a method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that the goods may be subject to security interests not shown on the certificate,
(1) a buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and
(2) the security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under AS 45.29.311(b) after issuance of the certificate and without the conflicting secured party's knowledge of the security interest.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 3. Perfection and Priority. › Sec. 45.29.338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

If a security interest or agricultural lien is perfected by a filed financing statement providing information described in AS 45.29.516(b)(5) that is incorrect at the time the financing statement is filed,
(1) the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and
(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 3. Perfection and Priority. › Sec. 45.29.340. Effectiveness of right of recoupment or setoff against deposit account.

(a) Except as otherwise provided in (c) of this section, a bank with which a deposit account is maintained may exercise a right of recoupment or setoff against a secured party that holds a security interest in the deposit account.
(b) Except as otherwise provided in (c) of this section, the application of this chapter to a security interest in a deposit account does not affect a right of recoupment or setoff of the secured party as to a deposit account maintained with the secured party.
(c) The exercise by a bank of a setoff against a deposit account is ineffective against a secured party that holds a security interest in the deposit account that is perfected by control under AS 45.29.104(a)(3) if the setoff is based on a claim against the debtor.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 3. Perfection and Priority. › Sec. 45.29.341. Bank's rights and duties with respect to deposit account.

Except as otherwise provided in AS 45.29.340(c), and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by
(1) the creation, attachment, or perfection of a security interest in the deposit account;
(2) the bank's knowledge of the security interest; or
(3) the bank's receipt of instructions from the secured party.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 3. Perfection and Priority. › Sec. 45.29.342. Bank's right to refuse to enter into or disclose existence of control agreement.

This chapter does not require a bank to enter into an agreement of the kind described in AS 45.29.104(a)(2), even if its customer 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.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.401. Alienability of debtor's rights.

(a) Except as otherwise provided in (b) of this section and AS 45.29.406 - 45.29.409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.
(b) An agreement between the debtor and secured party that prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.402. Secured party not obligated on contract of debtor or in tort.

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.403. Agreement not to assert defenses against assignee.

(a) In this section, the issue of whether an assignment is taken for value is governed by the provisions of AS 45.03.303(a).
(b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee a claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment
(1) for value;
(2) in good faith;
(3) without notice of a claim of a property or possessory right to the property assigned; and
(4) without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under AS 45.03.305(a).
(c) The provisions of (b) of this section do not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under AS 45.03.305(b).
(d) In a consumer transaction, if a record evidences the account debtor's obligation, if law other than this chapter requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and if the record does not include the statement,
(1) the record has the same effect as if the record included the statement; and
(2) the account debtor may assert against an assignee the claims and defenses that would have been available if the record included the statement.
(e) 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.
(f) Except as otherwise provided in (d) of this section, this section does not displace law other than this chapter that gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.404. Rights acquired by assignee; claims and defenses against assignee.

(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.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.405. Modification of assigned contract.

(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection is subject to (b) - (d) of this section.
(b) The provisions of (a) of this section apply to the extent that the right to payment or the right to partial payment
(1) under an assigned contract has not been fully earned by performance; or
(2) has been fully earned by performance and the account debtor has not received notification of the assignment under AS 45.29.406(a).
(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) This section does not apply to an assignment of a health care insurance receivable.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.407. Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.

(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.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 4. Rights of Third Parties. › Sec. 45.29.409. Restrictions on assignment of letter-of-credit rights ineffective.

(a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit that prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary's assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that the term or rule of law, statute, regulation, custom, or practice
(1) would impair the creation, attachment, or perfection of a security interest in the letter-of-credit right; or
(2) provides that the assignment, transfer, creation, attachment, or perfection of the security interest may give rise to a default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the letter-of-credit right.
(b) To the extent that a term in a letter of credit is ineffective under (a) of this section but would be effective under law other than this chapter or a custom or practice applicable to the letter of credit, to the transfer of a right to draw or otherwise demand performance under the letter of credit, or to the assignment of a right to proceeds of the letter of credit, the creation, attachment, or perfection of a security interest in the letter-of-credit right
(1) is not enforceable against the applicant, issuer, nominated person, or transferee beneficiary;
(2) imposes no duties or obligations on the applicant, issuer, nominated person, or transferee beneficiary; and
(3) does not require the applicant, issuer, nominated person, or transferee beneficiary to recognize the security interest, pay or render performance to the secured party, or accept payment or other performance from the secured party.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.501. Filing office.

(a) Except as otherwise provided in (b) of this section, if the law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is
(1) the office designated for the recording of a mortgage on the related real property if
(A) the collateral is as-extracted collateral or timber to be cut; or
(B) the financing statement is filed for record as a fixture filing and the collateral is goods that are or are to become fixtures; or
(2) in all other cases, the central filing office of the Department of Natural Resources established under AS 44.37.027, including a case in which the collateral consists of goods that are or are to become fixtures and the financing statement is not filed for record as a fixture filing.
(b) The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the central filing office of the Department of Natural Resources established under AS 44.37.027. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement that is or is to become fixtures.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.502. Contents of financing statement; mortgage as financing statement; time of filing financing statement.

(a) Subject to (b) of this section, a financing statement is sufficient only if it
(1) provides the name of the debtor;
(2) provides the name of the secured party or a representative of the secured party; and
(3) indicates the collateral covered by the financing statement.
(b) Except as otherwise provided in AS 45.29.501(b), to be sufficient, a financing statement that covers as-extracted collateral or timber to be cut, or that is filed as a fixture filing and covers goods that are or are to become fixtures, must
(1) satisfy (a) of this section;
(2) indicate that the financing statement covers this type of collateral;
(3) indicate that the financing statement is to be filed for record in the real property records;
(4) provide a description of the real property to which the collateral is related sufficient to give constructive notice of a mortgage under the law of this state if the description were contained in the mortgage of the real property; and
(5) if the debtor does not have an interest of record in the real property, provide the name of a record owner.
(c) A mortgage is effective from the date of recording as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut only if
(1) the mortgage indicates the goods or accounts that it covers;
(2) the goods are or are to become fixtures related to the real property described in the mortgage or the collateral is related to the real property described in the mortgage and is as-extracted collateral or timber to be cut;
(3) the mortgage satisfies the requirements for a financing statement in this section other than an indication that it is to be filed in the real property records; and
(4) the mortgage is recorded.
(d) A financing statement may be filed before a security agreement is made or a security interest otherwise attaches.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.504. Indication of collateral.

A financing statement sufficiently indicates the collateral that it covers if the financing statement provides
(1) a description of the collateral pursuant to AS 45.29.108; or
(2) an indication that the financing statement covers all assets or all personal property.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.

(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement or may comply with a statute, regulation, or treaty described in AS 45.29.311(a) using the terms “consignor,” “consignee,” “lessor,” “lessee,” “bailor,” “bailee,” “licensor,” “licensee,” “owner,” “registered owner,” “buyer,” “seller,” or words of similar import instead of the terms “secured party” and “debtor.”
(b) AS 45.29.501 - 45.29.525 apply to the filing of a financing statement under (a) of this section and, as appropriate, to compliance that is equivalent to filing a financing statement under AS 45.29.311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner, or buyer that attaches to the collateral is perfected by the filing or compliance.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.506. Effect of errors or omissions.

(a) A financing statement substantially satisfying the requirements of AS 45.29.501 - 45.29.525 is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.
(b) Except as otherwise provided in (c) of this section, a financing statement that fails sufficiently to provide the name of the debtor in accordance with AS 45.29.503(a) is seriously misleading.
(c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with AS 45.29.503(a), the name provided does not make the financing statement seriously misleading.
(d) For purposes of AS 45.29.508(b), the “debtor's correct name” in (c) of this section means the correct name of the new debtor.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.507. Effect of certain events on effectiveness of financing statement.

(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.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.508. Effectiveness of financing statement if new debtor becomes bound by security agreement.

(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under (a) of this section to be seriously misleading under AS 45.29.506, the financing statement is
(1) effective to perfect a security interest in collateral acquired by the new debtor before, and within four months after, the new debtor becomes bound under AS 45.29.203(d); and
(2) not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under AS 45.29.203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c) This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under AS 45.29.507(a).
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.509. Persons entitled to file a record.

(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if
(1) the debtor authorizes the filing in an authenticated record or pursuant to (b) or (c) of this section; or
(2) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement and an amendment covering
(1) the collateral described in the security agreement; and
(2) property that becomes collateral under AS 45.29.315(a)(2), whether or not the security agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or agricultural lien continues under AS 45.29.315(a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under AS 45.29.315(a)(2).
(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if
(1) the secured party of record authorizes the filing; or
(2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement required under AS 45.29.513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under (d) of this section.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.510. Effectiveness of filed record.

(a) A filed record is effective only to the extent that it was filed by a person who may file it under AS 45.29.509.
(b) A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c) A continuation statement that is not filed within the six-month period prescribed by AS 45.29.515(d) is ineffective.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.511. Secured party of record.

(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under AS 45.29.514(a), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) If an amendment of a financing statement that provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under AS 45.29.514(b), the assignee named in the amendment is a secured party of record.
(c) A person remains a secured party of record until the filing of an amendment of the financing statement that deletes the person.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.512. Amendment of financing statement.

(a) Subject to AS 45.29.509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to (e) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that
(1) identifies by its file number the initial financing statement to which the amendment relates; and
(2) if the amendment relates to an initial financing statement filed or recorded in a filing office described in AS 45.29.501(a)(1), provides the date that the initial financing statement was filed or recorded and the information specified in AS 45.29.502(b).
(b) Except as otherwise provided in AS 45.29.515, the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
(e) An amendment is ineffective to the extent it purports to delete all
(1) debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(2) secured parties of record and fails to provide the name of a new secured party of record.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.513. Termination statement.

(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and
(1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) the debtor did not authorize the filing of the initial financing statement.
(b) To comply with (a) of this section, a secured party shall cause the secured party of record to file the termination statement
(1) within one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) if earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
(c) In cases not governed by (a) of this section, within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if
(1) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4) the debtor did not authorize the filing of the initial financing statement.
(d) Except as otherwise provided in AS 45.29.510, upon the filing of a termination statement in the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in AS 45.29.510, for purposes of AS 45.29.519(g), 45.29.522(a), and 45.29.523(c), the filing in the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.514. Assignment of powers of secured party of record.

(a) Except as otherwise provided in (c) of this section, an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b) Except as otherwise provided in (c) of this section, a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement that
(1) identifies by its file number the initial financing statement to which it relates;
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture covered by a mortgage that is effective as a financing statement filed as a fixture filing under AS 45.29.502(c) may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than the code.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.515. Duration and effectiveness of financing statement; effect of lapsed financing statement.

(a) Except as otherwise provided in (b) and (e) - (g) of this section, a filed financing statement is effective for a period of five years after the date of filing.
(b) Except as otherwise provided in (e) - (g) of this section, an initial financing statement filed in connection with a manufactured home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a manufactured home transaction.
(c) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless, before the lapse, a continuation statement is filed under (d) of this section. Upon lapse, a financing statement ceases to be effective and a security interest or agricultural lien that was perfected by the financing statement becomes unperfected unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is considered never to have been perfected as against a purchaser of the collateral for value.
(d) A continuation statement may be filed only within six months before the expiration of the five-year period specified in (a) of this section or the 30-year period specified in (b) of this section, whichever is applicable.
(e) Except as otherwise provided in AS 45.29.510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in (c) of this section unless, before the lapse, another continuation statement is filed under (d) of this section. Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(f) If a debtor is a transmitting utility and a filed financing statement so indicates, the initial financing statement is effective until a termination statement is filed.
(g) A mortgage that is effective as a financing statement filed as a fixture filing under AS 45.29.502(c) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.518. Claim concerning inaccurate or wrongfully filed record.

(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed.
(b) An information statement under (a) of this section must
(1) identify the record to which it relates by
(A) the file number assigned to the initial financing statement to which the record relates; and
(B) if the information statement relates to a record filed for record in a filing office described in AS 45.29.501(a)(1), the date that the initial financing statement was filed for record and the information specified in AS 45.29.502(b);
(2) indicate that it is an information statement; and
(3) provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure the inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
(c) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
(d) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to file the record under AS 45.29.509(d).
(e) An information statement under (d) of this section must
(1) identify the record to which it relates
(A) by the file number assigned to the initial financing statement to which the record relates; and
(B) if the information statement relates to a record filed in a filing office described in AS 45.29.501(a)(1), by the date that the initial financing statement was filed and the information specified in AS 45.29.502(b);
(2) indicate that it is an information statement; and
(3) provide the basis for the person's belief that the person that filed the record was not entitled to file the record under AS 45.29.509(d).
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.520. Acceptance and refusal to accept record.

(a) A filing office shall refuse to accept a record for filing for a reason set out in AS 45.29.516(b) and may refuse to accept a record for filing only for a reason set out in AS 45.29.516(b).
(b) If a filing office refuses to accept a record for filing, the filing office shall communicate to the person who presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing office regulation but, in the case of a filing office described in AS 45.29.501(a)(2), no more than two business days after the filing office receives the record.
(c) A filed financing statement satisfying AS 45.29.502(a) and (b) is effective even if the filing office is required to refuse to accept it for filing under (a) of this section. However, AS 45.29.338 applies to a filed financing statement providing information described in AS 45.29.516(b)(5) that is incorrect at the time the financing statement is filed.
(d) If a record communicated to a filing office provides information that relates to more than one debtor, AS 45.29.501 - 45.29.525 applies as to each debtor separately.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.522. Maintenance and destruction of records.

(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under AS 45.29.515 with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and,
(1) if the record was filed for record in the filing office described in AS 45.29.501(a)(1), by using the file number assigned to the initial financing statement to which the record relates and the date that the record was filed for record; or
(2) if the record was filed in the filing office described in AS 45.29.501(a)(2), by using the file number assigned to the initial financing statement to which the record relates.
(b) Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy a written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement that complies with (a) of this section.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.523. Information from filing office; sale or license of records.

(a) If a person who files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record under AS 45.29.519(a)(1) and the date and time of the filing of the record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead
(1) note on the copy the number assigned to the record under AS 45.29.519(a)(1) and the date and time of the filing of the record; and
(2) send the copy to the person.
(b) If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides
(1) the information in the record;
(2) the number assigned to the record under AS 45.29.519(a)(1); and
(3) the date and time of the filing of the record.
(c) The filing office shall communicate or otherwise make available in a record the following information to a person who requests it:
(1) whether there is on file on a date and time specified by the filing office, but not a date earlier than three business days before the filing office receives the request, a financing statement that
(A) designates a particular debtor;
(B) has not lapsed under AS 45.29.515 with respect to all secured parties of record; and
(C) if the request so states, has lapsed under AS 45.29.515 and a record of which is maintained by the filing office under AS 45.29.522(a);
(2) the date and time of filing of each financing statement; and
(3) the information provided in each financing statement.
(d) In complying with its duty under (c) of this section, the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing its written certificate.
(e) The filing office shall perform the acts required by (a) - (d) of this section at the time and in the manner prescribed by filing office regulations but, in the case of a filing office described in AS 45.29.501(a)(2), not later than two business days after the filing office receives the request.
(f) At least bi-weekly, the filing office described in AS 45.29.501(a)(2) shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed in it under AS 45.29.501 - 45.29.525, in every medium from time to time available to the filing office.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.524. Delay by filing office.

Delay by the filing office beyond a time limit prescribed by AS 45.29.501 - 45.29.525 is excused if
(1) the delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and
(2) the filing office exercises reasonable diligence under the circumstances.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.525. Fees.

The Department of Natural Resources shall adopt regulations that set the fees for
(1) recording or filing and indexing a document under AS 45.29.501 - 45.29.525; and
(2) responding to a request for information or copies from the filing office, including for communicating whether there is on file a financing statement naming a particular debtor.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 5. Filing. › Sec. 45.29.530. Accounting; appropriations.

Under AS 37.05.146(c), fees for services for recording and related services of the Department of Natural Resources for secured transactions under AS 45.29 (Uniform Commercial Code - Secured Transactions) shall be accounted for separately, and appropriations from the account are not made from the unrestricted general fund.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 6. Default. › Sec. 45.29.601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.

(a) After default, a secured party has the rights provided in AS 45.29.601 - 45.29.628 and, except as otherwise provided in AS 45.29.602, those provided by agreement of the parties. A secured party
(1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by available judicial procedures; and
(2) if the collateral is documents, may proceed either as to the documents or as to the goods the documents cover.
(b) A secured party in possession of collateral or control of collateral under AS 45.07.116, AS 45.29.104, 45.29.105, 45.29.106, or 45.29.107 has the rights and duties provided in AS 45.29.207.
(c) The rights under (a) and (b) of this section are cumulative and may be exercised simultaneously.
(d) Except as otherwise provided in (g) of this section and AS 45.29.605, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(e) If a secured party has reduced its claim to judgment, the lien of a levy that may be made upon the collateral by virtue of an execution based on the judgment relates back to the earliest of the date
(1) of perfection of the security interest or agricultural lien in the collateral;
(2) of filing a financing statement covering the collateral; or
(3) specified in a statute under which the agricultural lien was created.
(f) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(g) Except as otherwise provided in AS 45.29.607(c), AS 45.29.601 - 45.29.628 impose no duties on a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 6. Default. › Sec. 45.29.602. Waiver and variance of rights and duties.

Except as otherwise provided in AS 45.29.624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following sections:
(1) AS 45.29.207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2) AS 45.29.210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) AS 45.29.607(c), which deals with collection and enforcement of collateral;
(4) AS 45.29.608(a) and 45.29.615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) AS 45.29.608(a) and 45.29.615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) AS 45.29.609 to the extent that it imposes on a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7) AS 45.29.610(b), 45.29.611, 45.29.613, and 45.29.614, which deal with disposition of collateral;
(8) AS 45.29.615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9) AS 45.29.616, which deals with explanation of the calculation of a surplus or deficiency;
(10) AS 45.29.620 - 45.29.622, which deal with acceptance of collateral in satisfaction of obligation;
(11) AS 45.29.623, which deals with redemption of collateral;
(12) AS 45.29.624, which deals with permissible waivers; and
(13) AS 45.29.625 and 45.29.626, which deal with the secured party's liability for failure to comply with this chapter.
2023 Alaska Statutes › Title 45. Trade and Commerce › Chapter 29. Secured Transactions › Article 6. Default. › Sec. 45.29.603. Agreement on standards concerning rights and duties.

(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in AS 45.29.602 if the standards are not manifestly unreasonable.
(b) The provisions of (a) of this section do not apply to the duty under AS 45.29.609 to refrain from breaching the peace.