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Can you summarize NHRS 382-A:9-705?
UNIFORM COMMERCIAL CODE > Effectiveness of Action Taken Before Effective Date.
Short Summary
This legal document pertains to the effectiveness of actions taken before the effective date of the Act. It states that if an action, other than filing a financing statement, is taken before the Act takes effect and would have resulted in priority of a security interest over the rights of a person becoming a lien creditor, the action is effective to perfect a security interest within one year after the Act takes effect. However, the attached security interest becomes unperfected one year after the Act takes effect unless it becomes a perfected security interest before that period. The document also addresses pre-effective-date filings, continuation statements, and the application of subsections to transmitting utility financing statements. No exemptions or penalties are mentioned in this document.
Whom does it apply to?
Persons taking action before the Act takes effect
What does it govern?
Effectiveness of action taken before the effective date of the Act
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire