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Can you summarize NVRS 104.9308?
Uniform Commercial CodeOriginal Articles > When security interest or agricultural lien is perfected; continuity of perfection.
Short Summary
This section of the Nevada Revised Statutes governs the perfection of security interests and agricultural liens. It states that a security interest is considered perfected if it has attached and all the applicable requirements for perfection have been satisfied. Similarly, an agricultural lien is perfected if it has become effective and all the applicable requirements for perfection have been met. The section also mentions that a security interest or agricultural lien can be continuously perfected if it is initially perfected in one manner and later perfected in another manner without any intermediate period of being unperfected. Additionally, it states that the perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral. The perfection of a security interest in a right to payment or performance also extends to a security interest in a security interest, mortgage, or other lien on personal or real property securing the right. Furthermore, the perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the account, and the perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the account.
Whom does it apply to?
Creditors and parties involved in security interests and agricultural liens
What does it govern?
Security interest and agricultural lien perfection
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada