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Can you summarize NHRS 382-A:9-201?
UNIFORM COMMERCIAL CODE > General Effectiveness of Security Agreement.
Short Summary
This legal document pertains to the general effectiveness of security agreements. It states that a security agreement is effective according to its terms between the parties involved, against purchasers of the collateral, and against creditors. The document also mentions that transactions subject to this article are subject to any applicable consumer laws, statutes, regulations, and consumer-protection statutes or regulations of the state. In case of conflict between this article and any rule of law, statute, or regulation, the latter controls. However, failure to comply with a statute or regulation described in the document only has the effect specified by that statute or regulation. It is important to note that this document does not validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation, nor does it extend the application of such rules to transactions not otherwise subject to them.
Whom does it apply to?
Parties to the security agreement, purchasers of the collateral, and creditors
What does it govern?
Effectiveness of security agreements
What are exemptions?
None mentioned
What are the Penalties?
None specified
Jurisdiction
New Hampshire