Alaska Stat. § 45.07.209
(c) A warehouse's lien for charges and expenses under (a) of this section or a security interest under (b) of this section is also effective against a person who entrusted the bailor with possession of the goods to the extent that a pledge of them by the bailor to a good faith purchaser for value would have been valid. However, the lien or security interest is not effective against a person who, before issuance of a document of title, had a legal interest or a perfected security interest in the goods and did not
(1) deliver or entrust the goods or a document of title covering the goods to the bailor or the bailor's nominee with