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- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 703. Security Interest Perfected Before Effective Date.
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Section 702. Savings Clause.
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Section 704. Security Interest Unperfected Before Effective Date.
AS 45.29.703. Security Interest Perfected Before Effective Date.
- (a) A security interest that is enforceable June 30, 2001, and would have priority over the rights of a person who becomes
a lien creditor June 30, 2001, is a perfected security interest under this chapter if, on July 1, 2001, the applicable
requirements for enforceability and perfection under this chapter are satisfied without further action.
- (b) Except as otherwise provided in AS 45.29.705
, if, on June 30, 2001, a security interest is enforceable and would have priority over the rights of a person who
becomes a lien creditor June 30, 2001, but the applicable requirements for enforceability or perfection under this
chapter are not satisfied on July 1, 2001, the security interest
- (1) is a perfected security interest until July 1, 2002;
- (2) remains enforceable on and after July 1, 2002, only if the security interest becomes enforceable under AS 45.29.203
before July 1, 2002; and
- (3) remains perfected on and after July 1, 2002, only if the applicable requirements for perfection under this chapter are
satisfied before July 1, 2002.
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