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Can you summarize NHRS 382-A:9-610?
UNIFORM COMMERCIAL CODE > Disposition of Collateral After Default.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the disposition of collateral after default. It allows a secured party to sell, lease, license, or otherwise dispose of the collateral in its present condition or after reasonable preparation or processing. The disposition must be commercially reasonable, considering aspects such as method, manner, time, place, and terms. The secured party can dispose of collateral through public or private proceedings, contracts, as a unit or in parcels, and at any time and place. The secured party may purchase collateral at a public disposition or a private disposition if the collateral is customarily sold on a recognized market or has widely distributed standard price quotations. The document also includes warranties on the disposition, such as title, possession, and quiet enjoyment, which accompany voluntary dispositions. However, the secured party can disclaim or modify these warranties by communicating a record with an express disclaimer or modification. The record should indicate the absence of warranties related to title, possession, quiet enjoyment, or similar aspects. This document does not mention any specific penalties or exemptions.
Whom does it apply to?
Secured parties and purchasers of collateral
What does it govern?
Disposition of Collateral After Default
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire