Ask Reggi Your Question Now
Can you summarize HIRS Chapter 490, Article 9?
Uniform Commercial Code > SECURED TRANSACTIONS
Short Summary
The provided legal document content covers various aspects of secured transactions under the Uniform Commercial Code (UCC). It includes definitions of terms used in secured transactions, rules for the effectiveness and attachment of security agreements, perfection, effect, and priority of security interests, rights of third parties, filing and effectiveness of financing statements, default and enforcement of security interest, and transition and application of security interests. The documents provide clarity on the terminology and concepts used in secured transactions and establish rules and procedures for parties involved in such transactions. They apply to individuals and organizations involved in secured transactions, including creditors, debtors, account debtors, assignors, assignees, filing offices, secured parties, consignors, buyers, obligors, and lien creditors. The documents do not mention specific exemptions or penalties for non-compliance or violation. Overall, these legal documents provide comprehensive guidance and regulations for various aspects of secured transactions under the UCC.
Whom does it apply to?
Individuals and organizations involved in secured transactions, creditors, debtors, account debtors, assignors, assignees, filing offices, secured parties, consignors, buyers, obligors, lien creditors
What does it govern?
Secured transactions, perfection, effect, and priority of security interests, rights of third parties, filing and effectiveness of financing statements, default and enforcement of security interest, transition and application of security interests under the Uniform Commercial Code's Secured Transactions
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Hawaii