Alaska § 45.29.601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
Full text of Alaska Alaska Statutes § 45.29.601 — Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes., with citation guidance and answers to common questions.
§ 45.29.601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
(a) After default, a secured party has the rights provided in AS 45.29.601 — 45.29.628 and, except as otherwise provided in AS 45.29.602 , those provided by agreement of the parties. A secured party (1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by available judicial procedures; and
(2) if the collateral is documents, may proceed either as to the documents or as to the goods the documents cover.
(b) A secured party in possession of collateral or control of collateral under AS 45.07.116 , AS 45.29.104 , 45.29.105, 45.29.106, or 45.29.107 has the rights and duties provided in AS 45.29.207 .
(c) The rights under (a) and (b) of this section are cumulative and may be exercised simultaneously.
(d) Except as otherwise provided in (g) of this section and AS 45.29.605 , after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(e) If a secured party has reduced its claim to judgment, the lien of a levy that may be made upon the collateral by virtue of an execution based on the judgment relates back to the earliest of the date (1) of perfection of the security interest or agricultural lien in the collateral;
(2) of filing a financing statement covering the collateral; or
(3) specified in a statute under which the agricultural lien was created.
(f) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(g) Except as otherwise provided in AS 45.29.607 (c), AS 45.29.601 — 45.29.628 impose no duties on a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.29.601
What does Alaska Statutes § 45.29.601 cover?
Section 45.29.601 ("Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.29.601?
A common citation format is "Alaska Statutes § 45.29.601" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.29.601 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.