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Can you summarize Chapter 46 WVCO?
West Virginia Code > UNIFORM COMMERCIAL CODE.
Short Summary
The provided legal document content covers various aspects of the Uniform Commercial Code (UCC) in West Virginia. It includes the transition provisions and effective date of the UCC, the governance of secured transactions and sales of accounts and chattel paper, warehouse receipts, bills of lading, and other documents of title, letters of credit, funds transfers, bank deposits and collections, leases, contracts and agreements related to the sale of goods, and presentment, dishonor of notes and drafts, obligation of indorsers and drawers, excusal of presentment, discharge of obligations, and tender of payment related to negotiable instruments. These documents apply to entities involved in commercial transactions, secured parties, debtors, obligors, lienholders, individuals and entities involved in secured transactions, sales of accounts and chattel paper, persons involved in the storage, transportation, and delivery of goods, corporations, business trusts, joint stock companies, and similar entities, bailees and entities involved in the business of storing and transporting goods, parties involved in letters of credit transactions, senders, receiving banks, intermediary banks, originators, beneficiaries, and beneficiary’s banks involved in funds transfers, banks handling items for presentment, payment, or collection, buyers and sellers involved in the sale of goods, and individuals and entities involved in transactions related to negotiable instruments. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Entities involved in commercial transactions, secured parties, debtors, obligors, lienholders, individuals and entities involved in secured transactions, sales of accounts and chattel paper, persons involved in the storage, transportation, and delivery of goods, corporations, business trusts, joint stock companies, and similar entities, bailees and entities involved in the business of storing and transporting goods, parties involved in letters of credit transactions, senders, receiving banks, intermediary banks, originators, beneficiaries, and beneficiary's banks involved in funds transfers, banks handling items for presentment, payment, or collection, buyers and sellers involved in the sale of goods, individuals and entities involved in transactions related to negotiable instruments
What does it govern?
Transition provisions and effective date of the Uniform Commercial Code in West Virginia, transactions and events occurring after its effective date, secured transactions and sales of accounts and chattel paper, warehouse receipts, bills of lading, and other documents of title, letters of credit, funds transfers, bank deposits and collections, leases, contracts and agreements related to the sale of goods, presentment, dishonor of notes and drafts, obligation of indorsers and drawers, excusal of presentment, discharge of obligations, and tender of payment related to negotiable instruments
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
West Virginia