This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the security interest that an issuer or nominated person has in a document presented under a letter of credit. It states that the issuer or nominated person has a security interest to the extent that they honor or give value for the presentation. The security interest continues until the issuer or nominated person has been reimbursed or has otherwise recovered the value given.

This article may be cited as Uniform Commercial Code-Secured Transactions. Source. 2001, 102:25, eff. July 1, 2001.

This legal document provides definitions and an index of definitions for Article 9 of the Uniform Commercial Code (UCC), which governs secured transactions. It includes definitions for various terms used in Article 9, such as ‘accession’, ‘account’, ‘account debtor’, ‘agricultural lien’, ‘chattel paper’, ‘collateral’, ‘consumer goods’, ’equipment’, ‘farm products’, ‘fixture filing’, ‘goods’, ‘inventory’, ‘investment property’, ’lien creditor’, ‘proceeds’, ‘security agreement’, and many more. The document also clarifies the application of certain terms in other articles of the UCC.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, provides definitions and regulations regarding purchase-money security interests, application of payments, and burden of establishing such interests. It defines ‘purchase-money collateral’ as goods or software securing a purchase-money obligation, and ‘purchase-money obligation’ as an obligation incurred as part of the price of the collateral or for enabling the debtor to acquire rights in or use of the collateral.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the control of deposit accounts. It outlines the requirements for a secured party to have control over a deposit account. Control can be established if the secured party is the bank where the account is maintained, if there is a signed agreement between the debtor, secured party, and bank allowing the secured party to direct the disposition of funds without further consent from the debtor, if the secured party becomes the bank’s customer regarding the deposit account, or if another person has control of the account and acknowledges it on behalf of the secured party.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the control of electronic copies of records that evidence chattel paper. It applies to purchasers and assignees of chattel paper. The document establishes rules for determining control of authoritative electronic copies, including the requirement for a system that reliably establishes the purchaser as the assignee. It specifies that a single authoritative copy of the record must exist, which is unique, identifiable, and unalterable, and that the purchaser must be identified as the assignee.

(a) Control under Section 8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8-106. (b) Control of commodity contract. A secured party has control of a commodity contract if: (1) the secured party is the commodity intermediary with which the commodity contract is carried; or (2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.

A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under Section 5-114(c) or otherwise applicable law or practice. Source. 2001, 102:25, eff. July 1, 2001.

(a) Control under Section 12-105. A secured party has control of a controllable electronic record as provided in Section 12-105. (b) Control of controllable account and controllable payment intangible. A secured party has control of a controllable account or controllable payment intangible if the secured party has control of the controllable electronic record that evidences the controllable account or controllable payment intangible. Source. 2022, 281:54, eff. Jan. 1, 2023.

(a) No requirement to acknowledge. A person that has control under Section 9-104 or 9-105 is not required to acknowledge that it has control on behalf of another person. (b) No duties or confirmation. If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this article otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment to another person.