An Act relating to the Uniform Commercial Code; relating to secured transactions; relating to controllable accounts, controllable electronic records, and controllable payment intangibles; relating to sales; relating to negotiable instruments; relating to letters of credit; relating to warehouse receipts, bills of lading, and other documents of title; relating to investment securities; relating to leases of goods; and relating to fund transfers.

Summary

The act amends Alaska’s Uniform Commercial Code to define and regulate controllable accounts, electronic records, and payment intangibles, changing how security interests are created, perfected, and prioritized. It impacts lenders, merchants, and borrowers who use digital assets or electronic documents as collateral, and it updates notice and control requirements to reflect modern electronic commerce. The law takes effect on September 30, 2026.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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