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Can you summarize NVRS 104.9109?
Uniform Commercial CodeOriginal Articles > Scope of applicability.
Short Summary
This legal document outlines the scope of applicability of Article 9 of the Uniform Commercial Code (UCC) in Nevada. It specifies the types of transactions and security interests to which this Article applies, including security interests in personal property or fixtures, agricultural liens, sales of accounts, chattel paper, payment intangibles or promissory notes, consignments, and certain security interests arising under specific sections of the Nevada Revised Statutes. However, there are exemptions and circumstances in which this Article does not apply, such as when preempted by federal law, when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior, or in specific types of liens, assignments, transfers, or interests. No penalties are mentioned in this document.
Whom does it apply to?
This Article applies to various transactions and security interests, including those that create a security interest in personal property or fixtures by contract, agricultural liens, sales of accounts, chattel paper, payment intangibles or promissory notes, consignments, and certain security interests arising under specific sections of the Nevada Revised Statutes.
What does it govern?
This legal document governs the scope of applicability of Article 9 of the Uniform Commercial Code (UCC) in Nevada. It specifies the types of transactions and security interests to which this Article applies.
What are exemptions?
This Article does not apply in certain circumstances, such as when a statute, regulation, or treaty of the United States preempts it, or when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under NRS 104.5114. Additionally, it does not apply to specific types of liens, assignments, transfers, or interests, including landlord's liens (except agricultural liens), liens given by statute or rule of law for services or materials, assignments of claims for wages or compensation, certain sales or assignments of accounts or promissory notes, transfers of interests in or liens on real property (except as provided in specific provisions), assignments of tort claims, assignments of deposit accounts in consumer transactions, and transfers by a government or governmental unit.
What are the Penalties?
No penalties are mentioned in this document.
Jurisdiction
Nevada