Sufficiency of description.
AlaskaStatutes
Ask Donna
How this section applies to your facts.
AK Code › Title 45 › Chapter 45.29 › Section 45.29.108
Text
(a) Except as otherwise provided in (c) (e) of this section, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.
(b) Except as otherwise provided in (d) of this section, a description of collateral reasonably identifies the collateral if it identifies the collateral by (1) specific listing;
(2) category;
(3) except as otherwise provided in (e) of this section, a type of collateral defined in the code;
(4) quantity;
(5) computational or allocational formula or procedure; or
(6) except as otherwise provided in (c) of this section, another method if the identity of the collateral is objectively determinable.
(c) A description of collateral as all the debtor's assets or all the debtor's personal property or using words of similar import does not reasonably identify the collateral.
(d) Except as otherwise provided in (e) of this section, a description of a security entitlement, securities account, or commodity account is sufficient if it describes (1) the collateral by those terms or as investment property; or
(2) the underlying financial asset or commodity contract.
(e) A description only by type of collateral defined in the code is an insufficient description of (1) a commercial tort claim; or
(2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.