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Can you summarize NHRS 382-A:9-625?
UNIFORM COMMERCIAL CODE > Remedies for Secured Party's Failure to Comply With Article.
Short Summary
This legal document governs the remedies available when a secured party fails to comply with the provisions outlined in the Uniform Commercial Code. It applies to secured parties, debtors, obligors, and persons with security interests or liens on collateral. The document allows a court to order or restrain collection, enforcement, or disposition of collateral if a secured party is not proceeding in accordance with the article. It also establishes liability for damages caused by noncompliance, including loss resulting from the debtor’s inability to obtain alternative financing. Additionally, the document provides for statutory damages of $500 for specific noncompliance, such as failure to comply with filing requirements or failure to comply with a request under Section 9-210. There are no exemptions mentioned in this document.
Whom does it apply to?
Secured parties, debtors, obligors, persons with security interests or liens on collateral
What does it govern?
Remedies for Secured Party's Failure to Comply With Article
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Damages in the amount of any loss caused by noncompliance, statutory damages of $500 for specific noncompliance
Jurisdiction
New Hampshire