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Can you summarize MTCO Title 30, Chapter 9A?
TRADE AND COMMERCE > UNIFORM COMMERCIAL CODE SECURED TRANSACTIONS
Short Summary
The first legal document provides transition provisions for the Uniform Commercial Code Secured Transactions in Montana. It governs the effectiveness and transition of financing statements in secured transactions in Montana. The second document pertains to the transition of security interests before and after July 1, 2001, under the Uniform Commercial Code Secured Transactions in Montana. It provides guidance on the transition and effectiveness of security interests before and after July 1, 2001, in Montana. The third document governs the acceptance of collateral in full or partial satisfaction of secured obligations. It outlines the requirements for a secured party to send a proposal to various parties before accepting collateral. The fourth document covers the procedures and practices of the filing office under the Montana Code, specifically related to secured transactions. It governs the rules and requirements for filing and indexing records, as well as the maintenance and destruction of records. The fifth document governs the scope and application of secured transactions. It applies to various types of transactions and security interests, with exemptions for certain cases where federal law preempts it or other statutes expressly govern the security interest. The sixth document governs requests for accounting, requests regarding a list of collateral, and requests regarding a statement of account in secured transactions. It outlines the obligations of secured parties to comply with these requests and provides provisions for recipients of requests who claim no interest in the collateral or obligations. The seventh document covers the perfection and priority of security interests in secured transactions. It includes provisions related to different types of collateral and provides guidelines for determining the governing law for perfection, the effect of perfection or nonperfection, and the priority of security interests. No specific penalties are mentioned in these documents.
Whom does it apply to?
Creditors, debtors, secured parties, lien creditors, buyers, lessees, licensees, securities intermediaries, commodity intermediaries, and other parties involved in secured transactions
What does it govern?
Transition provisions for the Uniform Commercial Code Secured Transactions in Montana, acceptance of collateral in full or partial satisfaction of secured obligations, procedures and practices of the filing office under the Montana Code, scope and application of secured transactions, requests for accounting, requests regarding a list of collateral, and requests regarding a statement of account in secured transactions, perfection and priority of security interests in secured transactions
What are exemptions?
Exemptions for the assignment of health-care-insurance receivables in certain sections
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Montana