Ask Reggi Your Question Now
Can you summarize NHRS 382-A:9-503?
UNIFORM COMMERCIAL CODE > Name of Debtor and Secured Party.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the sufficiency of a debtor’s name in a financing statement. It provides guidelines for determining whether a financing statement sufficiently provides the name of the debtor based on different scenarios. The document specifies the requirements for registered organizations, trusts, individuals, and other cases. It also clarifies that the absence of a trade name or additional debtor-related information does not render a financing statement ineffective. The document further addresses the representative capacity of a secured party or representative of a secured party and allows for multiple debtors and secured parties to be named in a financing statement. Overall, this legal document establishes the criteria for accurately identifying debtors in financing statements to ensure legal validity and clarity.
Whom does it apply to?
Creditors and debtors involved in financing statements
What does it govern?
Sufficiency of debtor's name in a financing statement
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire