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Can you summarize Chapter 62A.9A WARC?
UNIFORM COMMERCIAL CODE > Secured transactions; sales of accounts, contract rights and chattel paper.
Short Summary
The provided legal document content consists of three sections of the Revised Code of Washington that govern secured transactions and the rights and duties of the parties involved. The first section, RCW 62A.9A-207, outlines the rights and duties of a secured party who has possession or control of collateral. The second section, RCW 62A.9A-208, governs the additional duties of a secured party who has control of collateral. The third section, RCW 62A.9A-209, governs the duties of a secured party when the account debtor has been notified of an assignment. Additionally, the legal document RCW 62A.9A-210 governs the process of requesting accounting, requesting a list of collateral, or requesting a statement of account in secured transactions. These legal documents apply to secured parties, debtors, account debtors, buyers of certain rights to payment, and consignors involved in secured transactions. No specific exemptions or penalties are mentioned in the provided legal document content.
Whom does it apply to?
Persons obligated on an account, chattel paper, or general intangible
What does it govern?
Secured transactions, sales of accounts, contract rights, chattel paper
What are exemptions?
Exemptions for certain types of rights to payment, such as those evidenced by chattel paper or an instrument, commercial tort claims, deposit accounts, investment property, letter-of-credit rights or letters of credit, and rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Washington