Sec. 45.29.311. Perfection of security interests in property subject to certain statutes, regulations, and treaties.

412 words·~2 min read·/ak/title-45/chapter-29/45-29-311

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Except as otherwise provided in

(d)of this section, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to

(1)a statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt AS 45.29.310 (a);

(2)AS 28.10 ; however, during a period in which collateral is inventory held for sale by a person who is in the business of selling goods of that kind, the filing provisions of AS 45.29.501 — 45.29.525 apply to a security interest in that collateral created by that person as debtor; or

(3)a statute of another jurisdiction that provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.

(b)Compliance with the requirements of a statute, regulation, or treaty described in

(a)of this section for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this chapter. Except as otherwise provided in

(d)of this section, AS 45.29.313 , and 45.29.316(d) and

(e)for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in

(a)of this section may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.

(c)Except as otherwise provided in

(d)of this section and AS 45.29.316

(d)and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in

(a)of this section are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this chapter.

(d)During a period in which collateral subject to a statute specified in (a)(2) of this section is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person.