- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 205. Use or Disposition of Collateral Permissible.
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. After-Acquired Property; Future Advances.
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. Security Interest Arising in Purchase or Delivery of Financial Asset.
AS 45.29.205. Use or Disposition of Collateral Permissible.
- (a) A security interest is not invalid or fraudulent against creditors solely because
- (1) the debtor has the right or ability to
- (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;
- (B) collect, compromise, enforce, or otherwise deal with collateral;
- (C) accept the return of collateral or make repossessions; or
- (D) use, commingle, or dispose of proceeds; or
- (2) the secured party fails to require the debtor to account for proceeds or replace collateral.
- (b) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security
interest depends upon possession of the collateral by the secured party.
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