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Can you summarize NHRS 382-A:9-322?
UNIFORM COMMERCIAL CODE > Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, establishes the rules for determining priority among conflicting security interests and agricultural liens in the same collateral. The general priority rules state that conflicting perfected security interests and agricultural liens rank according to the time of filing or perfection. A perfected security interest or agricultural lien takes priority over a conflicting unperfected security interest or agricultural lien. The first security interest or agricultural lien to attach or become effective has priority if conflicting security interests and agricultural liens are unperfected. The document also provides special priority rules for proceeds and supporting obligations. Additionally, it mentions a first-to-file priority rule for certain collateral. However, the document is subject to limitations and exceptions outlined in subsections (g) and (f). Overall, this document governs the priority of conflicting security interests and agricultural liens in the same collateral and applies to creditors involved in such conflicts.
Whom does it apply to?
Creditors with conflicting security interests and agricultural liens in the same collateral
What does it govern?
Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire