- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 506. Effect of Errors or Omissions.
previous: Section 505
. Filing and Compliance With Other Statutes and Treaties For Consignments, Leases, Other Bailments, and Other Transactions.
next: Section 507
. Effect of Certain Events On Effectiveness of Financing Statement.
AS 45.29.506. Effect of Errors or Omissions.
- (a) A financing statement substantially satisfying the requirements of AS 45.29.501
- 45.29.525 is effective, even if it has minor errors
or omissions, unless the errors or omissions make the financing statement seriously misleading.
- (b) Except as otherwise provided in (c) of this section, a financing statement that fails sufficiently to provide the name
of the debtor in accordance with AS 45.29.503
(a) is seriously misleading.
- (c) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard
search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in
accordance with AS 45.29.503
(a), the name provided does not make the financing statement seriously misleading.
- (d) For purposes of AS 45.29.508
(b), the "debtor's correct name" in (c) of this section means the correct name of the new debtor.
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