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Can you summarize NDCC Chapter 41-09?
Uniform Commercial Code > Secured Transactions
Short Summary
The provided legal document content pertains to the North Dakota Century Code’s Uniform Commercial Code on Secured Transactions. It covers various aspects of secured transactions, including the definitions of terms and concepts related to secured transactions, rules and regulations surrounding purchase-money security interests, the control of deposit accounts and uncertificated certificates of deposit, the control of electronic copies of records that evidence chattel paper, the control of certificated securities, uncertificated securities, and security entitlements, the control of commodity contracts, and the sufficiency of description for personal or real property in secured transactions. The documents also address the creation, perfection, and priority of security interests, the rights and obligations of secured parties and agricultural lienholders, the disposition of collateral and proceeds, the effect of a change in governing law on security interests, and the priority of conflicting security interests and agricultural liens. The documents apply to individuals and organizations involved in secured transactions, and no specific exemptions or penalties are mentioned.
Whom does it apply to?
Individuals and organizations involved in secured transactions
What does it govern?
Secured Transactions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
North Dakota