11 AAC 06.900. Definitions

In this chapter, unless the context requires otherwise,

(1) "amendment" means a UCC record that amends the information contained in a financing statement; "amendment" includes an assignment, a continuation, a partial release, and a termination;

(2) "assignment" means an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement;

(3) "certified copy" means a copy of a document or record, signed and certified as a true copy by the officer in whose custody the document or record is or by any other person authorized to make the certification;

(4) "continuation" has the meaning given to "continuation statement" in AS 45.29.102 ;

(5) "correction statement" means a UCC record that indicates that a financing statement is inaccurate or wrongfully filed;

(6) "department" means the Department of Natural Resources;

(7) "file" means to accept a UCC record into the public record by affixing serial number, date, and time information, and to retain that record;

(8) "financing statement" has the meaning given in AS 45.29.102 ;

(9) "fixture filing" has the meaning given in AS 45.29.102 ;

(10) "fixture statement" means the financing statement that is filed in a fixture filing;

(11) "individual" means a

(A) natural person in a UCC record; or

(B) decedent in a UCC record, if a debtor is the decedent's estate;

(12) "initial financing statement" means a UCC record containing the information required to be in a financing statement under AS 45.29.502 and that causes the filing office to establish the initial record of existence of a financing statement;

(13) "legal description" means a delineation of a specific property by

(A) referring to and basing the delineation on a plat of survey that is

(i) approved by the applicable platting authority identified in AS 40.15.070 ; and

(ii) accepted and filed in accordance with this chapter;

(B) describing the property's metes and bounds; or

(14) "organization" means a person in a UCC record, other than an individual;

(15) "record"

(A) as a noun, means every document accepted and placed into the public record in a district recorder's office, providing notice to the public and open to the public for inspection; "record" includes UCC filings in the UCC central filing office;

(B) for purposes of a UCC record, has the meaning given in AS 45.29.102 ; and

(C) as a verb, means to accept a document into the public record by affixing serial number, date, and time information to the document and entering it into the grantor/grantee and location indices;

(16) "remitter" means a person who tenders a UCC record to the filing officer for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing; "remitter" does not include the United States Postal Service, a courier service, or a person responsible merely for the delivery of the record to the filing office, unless that person acts as a filer's agent in the filing process;

(17) "secured party of record" has the meaning given in AS 45.29.511 ;

(18) "termination" has the meaning given to "termination statement" in AS 45.29.102 ;

(19) "UCC" means AS 45.29 (Uniform Commercial Code - Secured Transactions);

(20) "UCC record" means a record that is an initial financing statement, amendment, or correction statement; "UCC record" does not refer exclusively to paper or paper-based writings; "UCC record" includes fixture statements and related documents recorded in a recording district office.

(21) "active initial financing statement" means an initial financing statement that has not reached the one-year anniversary of its lapse date;

(22) "address" means a valid mailing address that includes

(A) a street address, route number, milepost number, or post office box number, as appropriate; and

(B) the city, state, and zip code.

History: Eff. 6/1/86, Register 98; am 8/23/2001, Register 159; am 4/2/2004, Register 169

Authority: AS 40.17.030

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