Ask Reggi Your Question Now
Can you summarize NHRS 382-A:9-806?
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 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. This applies if the initial financing statement would be effective to perfect a security interest under Article 9 as amended by this act, the pre-effective-date financing statement was filed in another state, and the initial financing statement satisfies the requirements outlined in subsection (c). The filing of an initial financing statement under this provision continues the effectiveness of the pre-effective-date financing statement for a specific period, depending on whether the initial financing statement is filed before or after the act takes effect. The initial financing statement must satisfy the requirements of Part 5 as amended by this act, identify the pre-effective-date financing statement, and indicate that the pre-effective-date financing statement remains effective.
Whom does it apply to?
Parties 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