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Can you summarize NVRS 104.9205?
Uniform Commercial CodeOriginal Articles > Use or disposition of collateral permissible.
Short Summary
1.A security interest is not invalid or fraudulent against creditors solely because: (a)The debtor has the right or ability to: (1)Use, commingle or dispose of all or part of the collateral, including returned or repossessed goods; (2)Collect, compromise, enforce or otherwise deal with collateral; (3)Accept the return of collateral or make repossessions; or (4)Use, commingle or dispose of proceeds; or (b)The secured party fails to require the debtor to account for proceeds or replace collateral. 2.This section does not relax the requirements of possession if attachment, perfection or enforcement of a security interest depends upon possession of the collateral by the secured party. (Added to NRS by 1999, 297)
Jurisdiction
Nevada