Section 09.25.060. Fraud presumed from retention of possession.

Latest version.

Every sale or assignment of personal property unless accompanied by the immediate delivery and the actual and continued change of possession of the thing sold or assigned is presumed prima facie to be a fraud against the creditors of the vendor or assignor, and subsequent purchasers in good faith and for a valuable consideration during the time the property remains in the possession of the vendor or assignor, 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, and nothing contained in this section shall supersede the provisions of AS 45.01 - AS 45.08, AS 45.12, AS 45.14, and AS 45.29 (Uniform Commercial Code).

Authorities

25.27.279

Notes

References

AS 25.27.279 Voiding of fraudulent transfers made to avoid payment of child support.

History

(Sec. 3.16 ch 101 SLA 1962)

                    
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