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Can you summarize NHRS 382-A:4-216?
UNIFORM COMMERCIAL CODE > Insolvency and Preference.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the handling of items in the possession of payor banks, collecting banks, receivers, trustees, and agents in charge of closed banks in cases of insolvency and preference. It outlines the obligations of these entities in returning items, making settlements, and suspending payments. The document also establishes preferred claims for owners of items in certain situations. The provisions of this document aim to ensure proper handling and settlement of items in the context of insolvency and preference. No specific exemptions or penalties are mentioned in the provided content.
Whom does it apply to?
Payor banks, collecting banks, receivers, trustees, agents in charge of closed banks, and owners of items
What does it govern?
Insolvency and Preference
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire