HB 251: "An Act relating to liens on vehicles; and providing for an effective date."
00 HOUSE BILL NO. 251 01 "An Act relating to liens on vehicles; and providing for an effective date." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 28.10.391(a) is amended to read: 04 (a) The filing of the application and documents under AS 28.10.381 and the 05 issuance of a new certificate of title are constructive notice of any liens or 06 encumbrances against the vehicle described in the certificate to a creditor of the 07 owner, or to a subsequent purchaser or encumbrancer. However, a mortgage, 08 conditional sale contract, or similar lien or encumbrance is subordinate to a lien 09 under AS 28.10.502 and is subject to the procedure provided in that section. A 10 [A] lien or encumbrance on a vehicle for labor, material, transportation, storage, or 11 similar activity, other than a lien under AS 28.10.502, whether or not dependent on 12 possession for its validity, is subordinate only to a mortgage, conditional sale contract, 13 or similar lien or encumbrance properly filed on or before the time that the vehicle is 14 subject to, or comes into possession of, the lien or encumbrance claimant for the labor, 15 material, transportation, storage, or similar activity.
01 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).