- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 108. Sufficiency of Description.
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AS 45.29.108. Sufficiency of Description.
- (a) Except as otherwise provided in (c) - (e) of this section, a description of personal or real property is sufficient,
whether or not it is specific, if it reasonably identifies what is described.
- (b) Except as otherwise provided in (d) of this section, a description of collateral reasonably identifies the collateral
if it identifies the collateral by
- (1) specific listing;
- (2) category;
- (3) except as otherwise provided in (e) of this section, a type of collateral defined in the code;
- (4) quantity;
- (5) computational or allocational formula or procedure; or
- (6) except as otherwise provided in (c) of this section, another method if the identity of the collateral is objectively
- (c) A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of
similar import does not reasonably identify the collateral.
- (d) Except as otherwise provided in (e) of this section, a description of a security entitlement, securities account, or
commodity account is sufficient if it describes
- (1) the collateral by those terms or as investment property; or
- (2) the underlying financial asset or commodity contract.
- (e) A description only by type of collateral defined in the code is an insufficient description of
- (1) a commercial tort claim; or
- (2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.
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