- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 507. Effect of Certain Events On Effectiveness of Financing Statement.
previous: Section 506
. Effect of Errors or Omissions.
next: Section 508
. Effectiveness of Financing Statement If New Debtor Becomes Bound By Security Agreement.
AS 45.29.507. Effect of Certain Events On Effectiveness of Financing Statement.
- (a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or
otherwise disposed of and in which a security interest or agricultural lien continues even if the secured party knows
of or consents to the disposition.
- (b) Except as otherwise provided in (c) of this section and AS 45.29.508, a financing statement is not rendered
ineffective if, after the financing statement is filed, the information provided in the financing statement becomes
seriously misleading under AS 45.29.506
- (c) If a debtor changes its name sufficiently to cause a filed financing statement to become seriously misleading under AS
, the financing statement is
- (1) effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the
- (2) not effective to perfect a security interest in collateral acquired by the debtor more than four months after the
change unless an amendment to the financing statement that renders the financing statement not seriously misleading is
filed within four months after the change.
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