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Can you summarize NHRS 382-A:9-702?
UNIFORM COMMERCIAL CODE > Savings Clause.
Short Summary
This legal document, known as the Savings Clause, is a part of the New Hampshire Revised Statutes under the Uniform Commercial Code. It applies to transactions or liens, even if they were entered into or created before this Act takes effect. The document states that transactions and liens that were not governed by former Article 9, but were validly entered into or created before this Act takes effect, remain valid after this Act takes effect. These transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this Act or by the law that would apply if this Act had not taken effect. However, this Act does not affect any action, case, or proceeding commenced before this Act takes effect. No specific penalties are mentioned in this document.
Whom does it apply to?
Parties involved in transactions or liens
What does it govern?
Transactions and liens
What are exemptions?
This Act does not affect an action, case, or proceeding commenced before this Act takes effect.
What are the Penalties?
No penalties mentioned.
Jurisdiction
New Hampshire