A security interest that is enforceable June 30, 2001, but that would be subordinate to the rights of a person who becomes a lien creditor June 30, 2001,

(1) remains an enforceable security interest until July 1, 2002;

Terms Used In Alaska Statutes 45.29.704

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
(2) remains enforceable on and after July 1, 2002, if the security interest becomes enforceable under Alaska Stat. § 45.29.203 on July 1, 2001, or before July 1, 2002; and
(3) becomes perfected

(A) without further action on July 1, 2001, if the applicable requirements for perfection under this chapter are satisfied before July 1, 2001; or
(B) when the applicable requirements for perfection are satisfied if the requirements are satisfied on or after July 1, 2001.
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