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Can you summarize NVRS 104.9316?
Uniform Commercial CodeOriginal Articles > Continued perfection of security interest following change in governing law.
Short Summary
This legal document, part of the Nevada Revised Statutes, specifically addresses the continued perfection of security interests in the event of a change in governing law. It outlines the conditions under which a security interest remains perfected, including the timeframes and events that may cause perfection to cease. The document also discusses the requirements for perfection of security interests in different types of collateral, such as goods covered by a certificate of title, possessory security interests, and interests in deposit accounts, letter-of-credit rights, or investment property. Additionally, it provides rules for collateral acquired by a new debtor and the effectiveness of financing statements in different jurisdictions. Overall, this document establishes the legal framework for maintaining the perfection of security interests in various scenarios involving changes in governing law.
Whom does it apply to?
Creditors and debtors involved in security interests and collateral transfers
What does it govern?
Continued perfection of security interest following change in governing law
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada