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Can you summarize NVRS 104.9201?
Uniform Commercial CodeOriginal Articles > General effectiveness of security agreement.
Short Summary
This legal document, governed by the Uniform Commercial CodeOriginal Articles, establishes the effectiveness of a security agreement. The agreement is binding between the parties involved, as well as against purchasers of the collateral and creditors. It is subject to any applicable rule of law that may establish different rules for consumers. In case of conflict between this article and a rule of law, statute, or regulation, the latter prevails. However, failure to comply with a statute or regulation described in subsection 2 only has the effect specified by that statute or regulation. It is important to note that this article does not validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection 2, nor does it extend the application of such rules to transactions not otherwise subject to them.
Whom does it apply to?
Parties, purchasers of the collateral, and creditors
What does it govern?
Security agreements
What are exemptions?
None mentioned
What are the Penalties?
None specified
Jurisdiction
Nevada