Section 45.29.308. When security interest or agricultural lien is perfected; continuity of perfection.

   (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.

Authorities

9.80.130;45.29.306;45.29.310;45.29.312

Notes

References

AS 9.80.130 .130">Sec. 09.80.130. Transferable records.
AS 45.29.306 Law governing perfection and priority of security interests in letter-of-credit rights.
AS 45.29.310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
AS 45.29.312 Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.

History

(Sec. 1 ch 113 SLA 2000)