00                            HOUSE BILL NO. 155                                                                          
01 "An Act relating to the recording and use of master forms for recorded documents."                                      
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1.  AS 40.17.050 is repealed and reenacted to read:                                                      
04            Sec. 40.17.050.  Master forms.  (a)  A person may record a master form of a                                
05       document if the form is clearly marked, stamped, or otherwise contains a clear legend                             
06       to identify the form as a master, sample, or similar standardized or reference form.                              
07       The form is entitled to recording without an acknowledgment or proof or certification,                            
08       without identification or description of specific real property, and without naming a                             
09       specific seller, purchaser, trustor, beneficiary, trustee, or other person.  The form may                         
10       contain the name or other identification of the person causing the recordation of the                             
11       form and intending to use the form.  The recorder shall index the master form in a                                
12       manner generally the same as the indexing system used for the same type of                                        
13       document.                                                                                                         
14            (b)  After recording under (a) of this section, a provision of a recorded master                             
15       form may be included as provided by (c) of this section for any purpose in a document                             

01       without including the full provision in the document referring to the master form                                 
02       provision.  To make the incorporation by reference effective for the purposes of this                             
03       chapter, the referenced master form must have been recorded in the recording district                             
04       where the document incorporating the referenced provision is being recorded.                                      
05            (c)  To incorporate by reference a master form or selected provisions of a                                   
06       master form, the document in which the master form or provision is to be incorporated                             
07       must contain a statement for each recording district where the document is to be                                  
08       recorded that                                                                                                     
09                 (1)  gives the specific date when the referenced master form was                                        
10       recorded in the recording district;                                                                               
11                 (2)  identifies the referenced master form by referring to the recording                                
12       information for the referenced master form from the records of the recording district                             
13       where the recorded master form appears; and                                                                       
14                 (3)  if less than all of the provisions of the referenced master form are                               
15       being incorporated, identifies the incorporated provisions by paragraph, section, or                              
16       other specification method that definitely identifies the incorporated provisions; in the                         
17       absence of specific designations, the entire referenced master form is considered to be                           
18       incorporated in the document.                                                                                     
19            (d)  The recording of a document that includes in the document by reference                                  
20       under (c) of this section a provision of or the entire contents of a master form that was                         
21       recorded under this section operates as constructive notice of the entire master form,                            
22       including all incorporated provisions of the referenced master form.                                              
23            (e)  A multiple part document that contains a short form of the document and                                 
24       additional parts containing the full text of any master form provisions being                                     
25       incorporated by reference may be used.  If the short form of the multiple part                                    
26       document satisfies the requirements of (c) of this section, the short form of the                                 
27       multiple part document may be separated from the other part of the multiple part                                  
28       document and recorded by itself.  The provisions of this section related to the                                   
29       incorporation by reference of a previously recorded master form or master form                                    
30       provision apply to the separated and recorded portion of a multiple part document.                                
31       The recorder is not required to separate the parts of a multiple part document, but the                           

01       recorder may separate the parts and record only the short form of the multiple part                               
02       document if the unrecorded portion of the multiple part document is clearly designated                            
03       or marked as a portion that does not need to be recorded.                                                         
04            (f)  Nothing in this section related to the use of master forms, the incorporation                           
05       by reference of the provisions of master forms, or the constructive notice provided by                            
06       master forms is intended to alter or modify the general contract law rules governing                              
07       the effectiveness of instruments between the parties to a transaction, including the                              
08       rules governing deeds of trust and the effectiveness and binding nature of provisions                             
09       incorporated in documents by reference.                                                                           
10            (g)  In this section, "master form" includes a master form of a deed of trust.