Section 45.29.307. Location of debtor.

   (a) In this section, "place of business" means a place where a debtor conducts its affairs.
   (b) Except as otherwise provided in this section, the following rules determine a debtor's location:
        (1) a debtor who is an individual is located at the individual's principal residence;
        (2) a debtor that is an organization and has only one place of business is located at its place of business;
        (3) a debtor that is an organization and has more than one place of business is located at its chief executive office.
   (c) The provisions of (b) of this section apply only if a debtor's residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If (b) of this section does not apply, the debtor is located in the District of Columbia.
   (d) A person who ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by (b) and (c) of this section.
   (e) A registered organization that is organized under the law of a state is located in that state.
   (f) Except as otherwise provided in (i) of this section, a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located
        (1) in the state that the law of the United States designates if the law designates a state of location;
        (2) in the state that the registered organization, branch, or agency designates if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or
        (3) in the District of Columbia if neither (1) nor (2) of this subsection applies.
   (g) A registered organization continues to be located in the jurisdiction specified by (e) or (f) of this section notwithstanding
        (1) the suspension, revocation, forfeiture, or lapse of the registered organization's status as such in its jurisdiction of organization; or
        (2) the dissolution, winding up, or cancellation of the existence of the registered organization.
   (h) The United States is located in the District of Columbia.
   (i) A branch or agency of a bank that is not organized under the law of the United States or a state is located in the state in which the branch or agency is licensed if all branches and agencies of the bank are licensed in only one state.
   (j) A foreign air carrier, under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.
   (k) This section applies only for purposes of AS 45.29.301 - 45.29.342.

Notes

History

(Sec. 1 ch 113 SLA 2000; am Sec. 9 ch 64 SLA 2013)