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Can you summarize NHRS 382-A:9-706?
UNIFORM COMMERCIAL CODE > When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement.
Short Summary
This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, addresses the continuation of the effectiveness of financing statements. It states that the filing of an initial financing statement in the specified office will continue the effectiveness of a financing statement filed before the Act takes effect. The initial financing statement must satisfy certain requirements, including identifying the pre-effective-date financing statement and indicating that it remains effective. The filing of the initial financing statement will continue the effectiveness of the pre-effective-date financing statement for a specific period, depending on whether it is filed before or after the Act takes effect. The provision also allows for the attachment of photocopies of the pre-effective-date financing statement and related documents to the initial financing statement. Overall, this provision ensures the continued effectiveness of financing statements in certain circumstances.
Whom does it apply to?
Creditors who have filed a financing statement before the Act takes effect
What does it govern?
Continuation of effectiveness of financing statements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire