This bill amends various sections of the Alaska Statutes to update the Uniform Commercial Code (UCC), particularly focusing on the definitions and regulations surrounding controllable accounts, electronic records, and payment intangibles. Key amendments include the introduction of terms such as "hybrid transaction" and "controllable electronic record," which aim to modernize the legal framework governing commercial transactions. The bill clarifies the enforceability of contracts by allowing records to suffice instead of requiring written agreements, and it specifies the conditions under which secured parties can enforce their interests in collateral, particularly in relation to electronic assets.

Additionally, the bill revises existing provisions regarding notifications before the disposition of collateral, emphasizing the need for clear communication between secured parties and debtors. It introduces new requirements for signed records to confirm consent and clarifies the liability of secured parties in relation to compliance with notification rights. The amendments also include the deletion of references to AS 45.29 in certain contexts, while incorporating references to AS 45.36, ensuring a more coherent legal framework for electronic transactions and secured interests. Overall, the bill aims to enhance clarity and efficiency in commercial transactions in Alaska, reflecting evolving business practices and technology.

Statutes affected:
SB0252A, AM SB 252, introduced 02/18/2026: 09.25.060, 09.25.090, 09.80.190, 14.42.220, 14.42.250, 25.27.279, 28.10.491, 11.81.900, 28.10.021, 29.35.625, 29.35.825, 36.30.860, 44.83.100, 44.83.120, 44.85.140, 44.88.090, 45.01.111, 45.01.211, 45.07.116, 45.01.214, 45.01.301, 45.02.402, 45.04.102, 45.05.116, 45.08.110, 45.12.105, 45.12.106, 45.14.507, 45.29.301, 45.29.307, 45.36.107, 45.01.306, 45.02.102, 45.02.106, 45.02.201, 45.02.202, 45.01.303, 45.02.203, 45.02.205, 45.02.209, 45.03.104, 45.03.105, 45.03.604, 45.05.104, 45.05.108, 45.08.102, 45.08.107, 45.08.106, 45.29.102, 45.36.102, 45.08.301, 45.08.103, 45.08.201, 45.08.210, 45.08.303, 45.08.501, 45.12.102, 45.12.209, 45.12.407, 45.12.103, 45.12.107, 45.12.201, 45.12.202, 45.12.203, 45.12.205, 45.12.208, 45.14.103, 45.14.201, 45.14.202, 45.14.203, 45.14.207, 45.14.208, 45.14.302, 45.14.210, 45.14.211, 45.14.305, 45.29.620, 45.29.622, 45.36.105, 45.29.111, 45.29.104, 45.29.105, 45.29.113, 45.29.203, 45.29.313, 45.29.106, 45.29.107, 45.29.112, 45.29.345, 45.29.204, 45.29.315, 45.29.336, 45.29.207, 45.29.208, 45.29.209, 45.29.406, 45.36.106, 45.29.210, 45.29.303, 45.29.306, 45.29.344, 45.29.304, 45.29.346, 45.29.342, 45.29.305, 45.29.310, 45.29.308, 45.29.309, 45.29.311, 45.29.312, 45.29.314, 45.29.316, 45.29.343, 45.29.317, 45.29.319, 45.29.322, 45.04.210, 45.05.118, 45.29.110, 45.29.323, 45.29.324, 45.29.330, 45.29.327, 45.29.326, 45.29.331, 45.29.332, 45.29.334, 45.29.335, 45.29.341, 45.29.340, 45.29.404, 45.29.407, 45.12.303, 45.29.408, 45.29.509, 45.29.513, 45.29.601, 45.29.605, 45.29.608, 45.29.607, 45.29.611, 45.29.610, 45.29.613, 45.29.614, 45.29.623, 45.29.615, 45.29.616, 45.29.619, 45.29.621, 45.29.624, 45.29.628, 45.29.705, 45.09.103, 45.29.707, 45.29.706, U.S.C, 09.80.130, 45.03.303, 45.36.103, 45.36.104, 45.36.201, 45.36.209, 45.36.202, 45.36.203, 45.36.204, 45.36.205, 45.36.206, 45.36.207, 45.36.208, 45.50.541, 45.63.030, 45.63.020, 45.66.230