Alaska Statutes
Alaska Stat. § 45.29.402 (2026)
Secured party not obligated on contract of debtor or in tort
✓ current as of July 2026
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Sec. 45.29.402. Secured party not obligated on contract of debtor or in tort.
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
Notes of Decisions
Cited in 2
cases, 2013–2013 · leading case: Charles v. Stout, 308 P.3d 1138 (Alaska 2013).
Charles v. Stout, 308 P.3d 1138 (Alaska 2013). “Credit Union 1 relied on AS 45.29.402, which provides that "[the existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's…”
Charles v. Stout (Alaska 2013). “1 Credit Union 1 relied on AS 45.29.402, which provides that “[t]he existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the…”
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