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Can you summarize NVRS 104.9305?
Uniform Commercial CodeOriginal Articles > Determination of law governing perfection and priority of security interests in investment property.
Short Summary
This legal document determines the law governing the perfection and priority of security interests in investment property. It provides rules for different types of securities, including certificated securities, uncertificated securities, security entitlements, securities accounts, commodity contracts, and commodity accounts. The law of the jurisdiction where the security certificate is located governs perfection, effect of perfection or nonperfection, and priority of a security interest in a certificated security. The law of the issuer’s jurisdiction governs the same for an uncertificated security. The law of the securities intermediary’s jurisdiction governs the same for a security entitlement or securities account. The law of the commodity intermediary’s jurisdiction governs the same for a commodity contract or commodity account. The document also provides rules to determine the commodity intermediary’s jurisdiction. Additionally, it specifies that the law of the jurisdiction where the debtor is located governs perfection of a security interest in investment property by filing, automatic perfection of a security interest in investment property granted by a broker or securities intermediary, and automatic perfection of a security interest in a commodity contract or commodity account granted by a commodity intermediary.
Whom does it apply to?
Creditors and parties involved in security interests in investment property
What does it govern?
Perfection and priority of security interests in investment property
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada