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Can you summarize NHRS 382-A:9-314?
UNIFORM COMMERCIAL CODE > Perfection by Control.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, discusses the concept of perfection by control in relation to security interests. It states that a security interest in various types of collateral can be perfected by control under specific sections of the code. The document also explains that the perfection by control of certain collateral, such as controllable accounts, electronic records, payment intangibles, deposit accounts, electronic documents, or letter-of-credit rights, occurs when the secured party obtains control and remains perfected only as long as the secured party retains control. Additionally, it outlines the time of perfection by control and the continuation of perfection for investment property. The document provides specific conditions under which a security interest in investment property is perfected by control and when it ceases to be perfected. No exemptions or penalties are mentioned in this document.
Whom does it apply to?
Secured parties and debtors involved in security interests in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property, or letter-of-credit rights.
What does it govern?
Perfection by Control
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire