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Can you summarize NHRS 382-A:9-305?
UNIFORM COMMERCIAL CODE > Law Governing Perfection and Priority of Security Interests in Investment Property.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the perfection and priority of security interests in investment property. It provides rules for determining the governing law for perfection, the effect of perfection or nonperfection, and the priority of security interests in different types of securities, including certificated securities, uncertificated securities, security entitlements, securities accounts, commodity contracts, and commodity accounts. The document specifies that the local law of the jurisdiction where a security certificate is located, the issuer’s jurisdiction for uncertificated securities, the securities intermediary’s jurisdiction for security entitlements or securities accounts, and the commodity intermediary’s jurisdiction for commodity contracts or commodity accounts govern the perfection, effect, and priority of security interests. It also outlines the rules for determining the commodity intermediary’s jurisdiction. Additionally, it states that the local law of the jurisdiction where the debtor is located governs the perfection of security interests in investment property by filing, automatic perfection of security interests created by brokers, securities intermediaries, or commodity intermediaries. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Creditors and parties involved in transactions related to security interests in investment property
What does it govern?
Perfection and priority of security interests in investment property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire