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Can you summarize NHRS 382-A:9-317?
UNIFORM COMMERCIAL CODE > Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, outlines the priority of interests over security interests or agricultural liens. It states that a security interest or agricultural lien is subordinate to the rights of a person entitled to priority under Section 9-322 and a person that becomes a lien creditor before the security interest or agricultural lien is perfected or certain conditions are met. The document also specifies that buyers and lessees who give value and receive delivery of collateral without knowledge of the security interest or agricultural lien and before it is perfected take free of such interests. Additionally, it mentions that licensees and buyers of certain collateral take free of a security interest if they give value without knowledge of the security interest and before it is perfected. The document also addresses the priority of purchase-money security interests and provides rules for buyers of chattel paper, electronic documents, controllable electronic records, and controllable accounts and payment intangibles. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Persons with conflicting security interests, lien creditors, buyers, lessees, licensees, and buyers of certain collateral
What does it govern?
Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire