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Can you summarize NHRS 382-A:9-502?
UNIFORM COMMERCIAL CODE > Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the sufficiency and requirements of financing statements and record of mortgages as financing statements. A financing statement is considered sufficient if it includes the name of the debtor, the name of the secured party or their representative, and indicates the collateral covered. However, for financing statements related to real property, additional requirements must be met, such as indicating the type of collateral, filing in the real property records, providing a description of the real property, and including the name of a record owner if the debtor has no interest of record. Additionally, a record of a mortgage can be effective as a financing statement if it meets certain criteria. This document also allows for the filing of a financing statement before a security agreement is made or a security interest attaches.
Whom does it apply to?
Creditors and debtors involved in financing transactions
What does it govern?
Financing statements and record of mortgages as financing statements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire