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Can you summarize NHRS 382-A:12-102?
UNIFORM COMMERCIAL CODE > Definitions.
Short Summary
This legal document, specifically Article 12, provides definitions for terms used in relation to controllable electronic records and transferable records. It defines ‘controllable electronic record’ as a record stored in an electronic medium that can be subjected to control under Section 12-105, excluding certain types of records. It also defines ‘qualifying purchaser’ as a purchaser who obtains control of a controllable electronic record for value, in good faith, and without notice of a property right claim. The term ’transferable record’ is also defined, referring to the meaning provided in the Electronic Signatures in Global and National Commerce Act or the Uniform Electronic Transactions Act. The definitions in Article 9 of ‘account debtor’, ‘controllable account’, ‘controllable payment intangible’, ‘chattel paper’, ‘deposit account’, and ‘investment property’ also apply to this article. This document does not mention any specific penalties for non-compliance or violations.
Whom does it apply to?
Entities involved in controllable electronic records and transferable records
What does it govern?
Article 12 definitions
What are exemptions?
Controllable accounts, controllable payment intangibles, deposit accounts, electronic copies of chattel paper, electronic documents of title, investment property, and electronic records authorized or adopted by a government
What are the Penalties?
No penalties mentioned
Jurisdiction
New Hampshire