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Can you summarize ORRS Chapter 79?
Commercial Transactions - Chapters 71-84 > Secured Transactions
Short Summary
The provided legal document content includes information related to secured transactions, specifically under the Oregon Revised Statutes and the Uniform Commercial Code. It covers definitions and an index of definitions related to secured transactions, as well as the scope and application of these terms. The document also addresses specific topics such as purchase-money security interests, the control of electronic chattel paper, the control of certificated securities and commodity contracts, the control of letter-of-credit rights, sufficiency of description in relation to collateral, the effectiveness of security agreements, attachment and enforceability of security interests, after-acquired collateral, debtor’s rights in collateral, and the rights and duties of secured parties. It also provides guidelines for determining the location of a debtor, the perfection and priority of security interests, the priority of security interests in collateral, the priority of purchasers of chattel paper or instruments, and the priority of security interests in fixtures and crops. The documents do not mention specific exemptions or penalties.
Whom does it apply to?
Individuals and organizations involved in secured transactions
What does it govern?
Secured Transactions
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Oregon