Sec. 45.29.805. Effectiveness of action taken before July 1, 2013.

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(a)The filing of a financing statement before July 1, 2013, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under AS 45.29.101 — 45.29.709, as those sections read on July 1, 2013.

(b)AS 45.29.102 (a)(8), (13), (61), (85), and (88), AS 45.29.105 , 45.29.307(f), 45.29.311(a), 45.29.316(h) and (i), 45.29.317(b) and (d), 45.29.326, 45.29.406(e), 45.29.408(b), 45.29.503(a), (b), and

(f)— (h), 45.29.507(c), 45.29.515(f), 45.29.516(b), 45.29.518, and 45.29.607(b), as those provisions read on July 1, 2013, do not render ineffective an effective financing statement that, before July 1, 2013, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in this chapter, as this chapter read on June 30, 2013. However, except as otherwise provided in

(c)and

(d)of this section and AS 45.29.806 , the financing statement ceases to be effective,

(1)if the financing statement is filed in this state, at the time the financing statement would have ceased to be effective had AS 45.29.102 (a)(8), (13), (61), and (88), AS 45.29.105 , 45.29.307(f), 45.29.311(a), 45.29.317(b) and (d), 45.29.326, 45.29.406(e), 45.29.408(b), 45.29.503(a) and (b), 45.29.507(c), 45.29.515(f), 45.29.516(b), 45.29.518, and 45.29.607(b), continued to read as those provisions read on June 30, 2013; or

(2)if the financing statement is filed in another jurisdiction, at the earlier of

(A)the time the financing statement would have ceased to be effective under the law of that jurisdiction; or

(B)June 30, 2018.

(c)The filing of a continuation statement on or after July 1, 2013, does not continue the effectiveness of a financing statement filed before July 1, 2013. However, upon the timely filing of a continuation statement on or after July 1, 2013, and in accordance with the law of the jurisdiction governing perfection as provided in AS 45.29.101 — 45.29.709, as those sections read on July 1, 2013, the effectiveness of a financing statement filed in the same office in that jurisdiction before July 1, 2013, continues for the period provided by the law of that jurisdiction.

(d)The provisions of (b)(2)(B) of this section apply to a financing statement that, before July 1, 2013, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in this chapter, as this chapter read on June 30, 2013, only to the extent that AS 45.29.101 — 45.29.709, as those sections read on July 1, 2013, provide that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.

(e)A financing statement that includes a financing statement filed before July 1, 2013, and a continuation statement filed on or after July 1, 2013, is effective only to the extent that it satisfies the requirements of AS 45.29.503 (a), (b), and

(f)— (h), 45.29.507(c), 45.29.515(f), 45.29.516(b), and 45.29.518, as those provisions read on July 1, 2013, for an initial financing statement. If a financing statement indicates that the debtor is a decedent's estate, the financing statement indicates that the collateral is being administered by a personal representative within the meaning of AS 45.29.503 (a)(2), as that paragraph read on July 1, 2013. If a financing statement indicates that the debtor is a trust or is a trustee acting with respect to property held in trust, the financing statement indicates that the collateral is held in a trust within the meaning of AS 45.29.503 (a)(3), as that paragraph read on July 1, 2013.