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Can you summarize NHRS 382-A:9-315?
UNIFORM COMMERCIAL CODE > Secured Party's Rights on Disposition of Collateral and in Proceeds.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, outlines the rights of secured parties and agricultural lienholders regarding the disposition of collateral and the proceeds derived from it. It states that a security interest or agricultural lien continues in collateral even after its sale, lease, license, exchange, or other disposition, unless the secured party authorized the disposition without the security interest or agricultural lien. Additionally, a security interest attaches to any identifiable proceeds of collateral. The document also covers the identification of commingled proceeds and the perfection of security interests in proceeds. It specifies the conditions under which a perfected security interest in proceeds becomes unperfected and the timeframe for such changes. Overall, this document provides guidance on the rights and obligations of secured parties and agricultural lienholders in relation to collateral and its proceeds.
Whom does it apply to?
Secured parties and agricultural lienholders
What does it govern?
Secured Party's Rights on Disposition of Collateral and in Proceeds
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire