Section 45.29.333. Priority of certain liens arising by operation of law.

   (a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien,
        (1) that secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;
        (2) that is created by statute or rule of law in favor of the person; and
        (3) whose effectiveness depends on the person's possession of the goods.
   (b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

Authorities

45.29.109

Notes

References

AS 45.29.109 Scope.

History

(Sec. 1 ch 113 SLA 2000)