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Can you summarize NHRS 382-A:9-328?
UNIFORM COMMERCIAL CODE > Priority of Security Interests in Investment Property.
Short Summary
This legal document governs the priority of security interests in investment property. It applies to secured parties, securities intermediaries, and commodity intermediaries. The document establishes rules for determining the priority of conflicting security interests. It states that a security interest held by a secured party with control over the investment property has priority over a security interest held by a secured party without control. Conflicting security interests held by secured parties with control rank according to the time of obtaining control or satisfying control requirements. A security interest held by a securities intermediary in a security entitlement or securities account has priority over a conflicting security interest held by another secured party. Similarly, a security interest held by a commodity intermediary in a commodity contract or commodity account has priority over a conflicting security interest held by another secured party. The document also addresses the priority of security interests in certificated securities and provides rules for conflicting security interests created by brokers, securities intermediaries, or commodity intermediaries. In cases not covered by the specific rules, priority among conflicting security interests is governed by other sections of the Uniform Commercial Code.
Whom does it apply to?
Secured parties, securities intermediaries, commodity intermediaries
What does it govern?
Priority among conflicting security interests in the same investment property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire