Security Agreement - Alaska
SECURITY AGREEMENT (ALASKA)
Effective date: [__/__/____]
This Security Agreement is made between [SECURED PARTY LEGAL NAME], at [ADDRESS] (Secured Party), and [DEBTOR EXACT LEGAL NAME], at [ADDRESS] (Debtor). It secures the obligations identified below with the collateral described in Schedule A. Complete Schedule A before signing. This form is for a commercial transaction; describe consumer, titled, fixture, deposit-account, and other special collateral in a separately reviewed agreement and perfection plan.
1. Secured obligations and collateral
Credit document: [TITLE], dated [__/__/____], between [PARTIES]. Principal or obligation: [AMOUNT / DESCRIPTION]. Maturity: [__/__/____]. The obligations secured are payment and performance under that identified credit document, including amendments signed by both parties. No unrelated debt is secured unless a signed amendment to this Agreement identifies it.
Debtor grants Secured Party a security interest in Debtor's rights in the specific personal property listed in Schedule A, together with identifiable proceeds of that property. The security interest attaches only to property in which Debtor has rights or power to transfer rights, after value is given and the other requirements of AS 45.29.203 are met. The grant does not represent that Secured Party has perfected its interest or has first priority.
2. Debtor information and filing authorization
Debtor type: ☐ Individual ☐ Registered organization ☐ Other organization: [________]
Debtor's exact legal name and source document: [________________________________]
State of organization, if registered: [________] Organization ID: [________]
Principal residence or chief executive office, as applicable: [________________________________]
Collateral locations: [________________________________]
Debtor authorizes Secured Party to file financing statements and amendments covering only the collateral described in Schedule A and its proceeds, in an office permitted by the law governing perfection. The parties shall complete the filing and competing-interest review in Schedule B. A filing does not itself establish attachment, perfection for every collateral type, or priority. Any collateral requiring possession, control, title notation, or a different filing route requires a separate completed step in Schedule B before a party treats it as perfected.
3. Debtor promises
Debtor represents that it has rights in the listed collateral or the power to transfer them and has disclosed known prior security interests and liens in Schedule B. Debtor shall keep the collateral in reasonable condition, maintain commercially reasonable insurance if required by the credit document, and notify Secured Party promptly of a material loss, sale outside ordinary operations, or change in the Debtor information above. Proceeds remain subject to this Agreement to the extent provided by applicable law.
4. Default and enforcement
An Event of Default occurs when Debtor fails to pay a secured obligation when due or materially breaches this Agreement and fails to cure within [____] days after written notice. An Event of Default under the identified credit document is also an Event of Default here if the credit document so provides. No cure period in this Agreement shortens a longer mandatory period under applicable law.
After an Event of Default, Secured Party may enforce the secured obligation and exercise remedies allowed by applicable law. Possession without judicial process must occur without breach of the peace. Any disposition of collateral must be commercially reasonable, with notification to persons entitled to it under AS 45.29.611 unless a statutory exception applies. Cash proceeds shall be applied in the order required by AS 45.29.615; any surplus and deficiency are handled under applicable law. No provision here waives a debtor right or secured-party duty that AS 45.29.602 makes nonwaivable.
5. Release and general terms
When no secured obligation and no commitment to give further value remain, Secured Party shall respond to Debtor's signed demand and provide or file a termination statement within the time and in the manner AS 45.29.513(c) requires. Each party shall sign further documents reasonably needed to carry out the specific collateral grant and lawful release. Amendments to this Agreement must be signed by both parties. Alaska law governs this Agreement, subject to the law that governs perfection and priority for a particular item of collateral. Invalid terms are severed only to the extent necessary; the remainder continues if its purpose can still be carried out.
Schedule A — Collateral description
Describe each item or category so that it can be objectively identified. Do not write only “all assets” or “all personal property.” Attach a signed continuation if needed.
| Item | Article 9 category | Specific identifying description, serial number or account detail | Present owner and location |
|---|---|---|---|
| 1 | [EQUIPMENT / INVENTORY / ACCOUNTS / OTHER] | [________________________________] | [________________________________] |
| 2 | [EQUIPMENT / INVENTORY / ACCOUNTS / OTHER] | [________________________________] | [________________________________] |
| 3 | [EQUIPMENT / INVENTORY / ACCOUNTS / OTHER] | [________________________________] | [________________________________] |
Excluded property: [________________________________]
Schedule B — Perfection and competing-interest record
| Collateral item | Governing jurisdiction and basis | Filing office or other perfection step | Existing lien or interest; consent or release needed | Completion date and evidence |
|---|---|---|---|---|
| [A item #] | [________] | [________] | [________] | [________] |
| [A item #] | [________] | [________] | [________] | [________] |
Search date, search source, debtor-name variants, and reviewer: [________________________________]
Signatures
The parties sign this Agreement and its completed schedules as of the effective date above.
| SECURED PARTY | DEBTOR |
|---|---|
| [LEGAL NAME] | [EXACT LEGAL NAME] |
| By: [________________________________] | By: [________________________________] |
| Name/title: [________________________________] | Name/title: [________________________________] |
| Date: [__/__/____] | Date: [__/__/____] |
About this template
- Last updated
- October 4, 2026
- Citations checked
- October 4, 2026
- Jurisdiction
- Alaska
- Category
- Financial & Banking
Legal authority
- AS 45.29.108 (collateral description)
- AS 45.29.203(b) (attachment and enforceability), as amended by ch. 49, SLA 2026, § 88
- AS 45.29.301 (law governing perfection), as amended by ch. 49, SLA 2026, § 101
- AS 45.29.310(a) (filing rule)
- AS 45.29.315(a)(2) (identifiable proceeds)
- AS 45.29.509(b) (filing authorization), as amended by ch. 49, SLA 2026, § 152
- AS 45.29.513(c) (termination), as amended by ch. 49, SLA 2026, § 154
- AS 45.29.602 (nonwaivable debtor rights)
- AS 45.29.609 (repossession)
- AS 45.29.610 (commercially reasonable disposition)
- AS 45.29.611 (disposition notice), as amended by ch. 49, SLA 2026, § 160
- AS 45.29.615(a) (disposition proceeds), as amended by ch. 49, SLA 2026, § 165
Financial and banking documents govern loans, security interests, account agreements, and commercial transactions between lenders, borrowers, and financial institutions. Promissory notes, guaranties, security agreements, and UCC filings have precise legal requirements, and mistakes can leave a lender unsecured or a borrower on the hook for more than they agreed to. Well-drafted finance paperwork protects both sides and keeps the deal enforceable if something goes wrong later.
Not legal advice
This template is provided for informational purposes. We recommend having an attorney review any legal document before signing, especially for high-value or complex matters.
Checked against the law it cites
A reviewer verified this template's legal citations against the official source on October 4, 2026.
AS 45.29.108(a) (checked October 4, 2026): "a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described."
AS 45.29.108(c) (checked October 4, 2026): "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."
AS 45.29.203(b), ch. 49, SLA 2026, § 88 (checked October 4, 2026): "a security interest is enforceable against the debtor and third parties with respect to the collateral only if (1) value has been given; (2) the debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (3) one of the following conditions is met:"
AS 45.29.301(1), ch. 49, SLA 2026, § 101 (checked October 4, 2026): "while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral;"
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