- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 306. Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights.
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. Law Governing Perfection and Priority of Security Interests in Investment Property.
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. Location of Debtor.
AS 45.29.306. Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights.
- (a) Subject to (c) of this section, the local law of the issuer's jurisdiction or a nominated person's jurisdiction
governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a
letter-of-credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state.
- (b) For purposes of AS 45.29.301
- 45.29.342, an issuer's jurisdiction or nominated
person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with
respect to the letter-of-credit right as provided in AS 45.05.116
- (c) This section does not apply to a security interest that is perfected only under AS 45.29.308
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