Section 45.29.110. Security interests arising under AS 45.02 or AS 45.12.

A security interest arising under AS 45.02.401, 45.02.505, 45.02.711(c), or AS 45.12.508(e) is subject to this chapter. However, until the debtor obtains possession of the goods,
        (1) the security interest is enforceable even if AS 45.29.203(b)(3) has not been satisfied;
        (2) filing is not required to perfect the security interest;
        (3) the rights of the secured party after default by the debtor are governed by AS 45.02 or AS 45.12; and
        (4) the security interest has priority over a conflicting security interest created by the debtor.

Authorities

45.02;45.12;45.29.109;45.29.203;45.29.322

Notes

References

AS 45.29.109 Scope.
AS 45.29.203 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
AS 45.29.322 Priorities among conflicting security interests in and agricultural liens on same collateral.

History

(Sec. 1 ch 113 SLA 2000)