AK SB252

Adds new AS 45.36 (Controllable Electronic Records) to Alaska's Uniform Commercial Code, establishing rules for controllable electronic records, controllable accounts, and controllable payment intangibles including definitions, control requirements, and governing law provisions

Updates terminology throughout the UCC by replacing "writing" with "record," "authenticated" with "signed," and modernizing definitions to accommodate electronic transactions and digital assets

Excludes electronic records that existed as mediums of exchange before government authorization from the definition of "money," addressing cryptocurrency and similar digital assets

Establishes new rules for perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles, including provisions for "qualifying purchasers" who take free of property claims

Creates transitional provisions (AS 45.36.201-209) to address security interests and transactions entered into before the Act's effective date, including a one-year grace period for compliance with new requirements