- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 201. General Effectiveness of Security Agreement.
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AS 45.29.201. General Effectiveness of Security Agreement.
- (a) Except as otherwise provided in the code, a security agreement is effective according to its terms between the
parties, against purchasers of the collateral, and against creditors.
- (b) A transaction subject to this chapter is subject to
- (1) an applicable rule of law that establishes a different rule for consumers;
- (2) another statute or regulation that regulates the rates, charges, agreements, and practices for loans, credit sales, or
other extensions of credit; and
- (3) consumer protection statutes or regulations.
- (c) In case of conflict between this chapter and a rule of law, statute, or regulation described in (b) of this section,
the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in (b) of
this section has only the effect the statute or regulation specifies.
- (d) This chapter does not
- (1) validate a rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in (b)
of this section; or
- (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
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