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Can you summarize NHRS 382-A:9-307?
UNIFORM COMMERCIAL CODE > Location of Debtor.
Short Summary
This legal document provides rules for determining the location of a debtor. The location of a debtor is important in determining the applicable laws and regulations for nonpossessory security interests and the priority of rights. The document defines the term ‘place of business’ as a place where a debtor conducts its affairs. It establishes rules for determining the location of a debtor based on whether the debtor is an individual or an organization with one or multiple places of business. The document also specifies that if a debtor’s residence, place of business, or chief executive office is located in a jurisdiction that requires information about nonpossessory security interests to be made available in a filing system, then the debtor is located in that jurisdiction. Otherwise, the debtor is located in the District of Columbia. The document further addresses the continuation of location in case of changes in the debtor’s existence or status. It also provides rules for determining the location of registered organizations organized under state or federal law, as well as bank branches, agencies, foreign bank branches or agencies, and foreign air carriers. Overall, this document establishes the framework for determining the location of debtors in various scenarios.
Whom does it apply to?
Debtors and creditors
What does it govern?
Location of Debtor
What are exemptions?
None mentioned
What are the Penalties?
No penalties mentioned
Jurisdiction
New Hampshire