Sec. 45.29.325. Priority of security interests in transferred collateral.

138 words·~1 min read·/ak/title-45/chapter-29/45-29-325

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

(a)Except as otherwise provided in

(b)of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if

(1)the debtor acquired the collateral subject to the security interest created by the other person;

(2)the security interest created by the other person was perfected when the debtor acquired the collateral; and

(3)there is no period after the events described in

(1)and

(2)of this subsection when the security interest is unperfected.

(b)The provisions of

(a)of this section subordinate a security interest only if the security interest

(1)otherwise would have priority solely under AS 45.29.322

(a)or 45.29.324; or

(2)arose solely under AS 45.02.711

(c)or AS 45.12.508 (e).