Alaska Statutes 14.42.250 – Validity of pledge
Terms Used In Alaska Statutes 14.42.250
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: includes real and personal property. See Alaska Statutes 01.10.060
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
It is the intention of the legislature that a pledge made in respect to bonds of the corporation shall be valid, perfected, and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the corporation shall immediately be subject to the lien of the pledge without physical delivery or further act; and that the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the corporation irrespective of whether the parties have notice. Neither the resolution, trust agreement, nor other instrument by which a pledge is created need be recorded or filed under the provisions of Alaska Stat. Chapter 45.01 – Alaska Stat. Chapter 45.08, Alaska Stat. Chapter 45.12, Alaska Stat. Chapter 45.14, and Alaska Stat. Chapter 45.29 (Uniform Commercial Code) to be valid, perfected, binding, or effective.