1.A person has control of a certificated security, uncertificated security, or security entitlement as provided in NRS 104.8106 . 2.A secured party has control of a commodity contract if: (a)The secured party is the commodity intermediary with which the commodity contract is carried; or (b)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 subsection 3 of NRS 104.5114 or otherwise applicable law or practice. (Added to NRS by 1999, 293)

This legal document, part of the Nevada Revised Statutes, pertains to the sufficiency of descriptions in commercial instruments and transactions governed by the Uniform Commercial Code. It establishes that a description of personal or real property is considered sufficient if it reasonably identifies what is described, regardless of specificity. The document also provides various methods by which a description of collateral can reasonably identify the collateral, such as specific listing, category, type defined in the Uniform Commercial Code, quantity, computational or allocational formula or procedure, or any other objectively determinable method.

This legal document outlines the scope of applicability of Article 9 of the Uniform Commercial Code (UCC) in Nevada. It specifies the types of transactions and security interests to which this Article applies, including security interests in personal property or fixtures, agricultural liens, sales of accounts, chattel paper, payment intangibles or promissory notes, consignments, and certain security interests arising under specific sections of the Nevada Revised Statutes. However, there are exemptions and circumstances in which this Article does not apply, such as when preempted by federal law, when the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior, or in specific types of liens, assignments, transfers, or interests.

A security interest arising under NRS 104.2401 , 104.2505 , subsection 3 of 104.2711, or subsection 5 of NRS 104A.2508 is subject to this Article. However, until the debtor obtains possession of the goods: 1.The security interest is enforceable, even if paragraph (c) of subsection 2 of NRS 104.9203 has not been satisfied; 2.Filing is not required to perfect the security interest; 3.The rights of the secured party after default by the debtor are governed by Article 2 or 2A; and 4.

This legal document, governed by the Uniform Commercial CodeOriginal Articles, establishes the effectiveness of a security agreement. The agreement is binding between the parties involved, as well as against purchasers of the collateral and creditors. It is subject to any applicable rule of law that may establish different rules for consumers. In case of conflict between this article and a rule of law, statute, or regulation, the latter prevails. However, failure to comply with a statute or regulation described in subsection 2 only has the effect specified by that statute or regulation.

Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles or promissory notes, the provisions of this article with regard to rights and obligations apply whether or not title to collateral is in the secured party or the debtor. (Added to NRS by 1999, 296)

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the attachment and enforceability of security interests, including the rights to proceeds and supporting obligations. It outlines the conditions under which a security interest becomes enforceable against the debtor and third parties, such as the requirement of value given and the debtor’s rights or power to transfer rights in the collateral. The document specifies various scenarios where a security interest can be attached, including the authentication of a security agreement, possession of collateral by the secured party, delivery of security certificates, or control over certain types of collateral.

1.Except as otherwise provided in subsection 2, a security agreement may create or provide for a security interest in after-acquired collateral. 2.A security interest does not attach under a term constituting an after-acquired property clause to: (a)Consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or (b)A commercial tort claim. 3.A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment.

1.A security interest is not invalid or fraudulent against creditors solely because: (a)The debtor has the right or ability to: (1)Use, commingle or dispose of all or part of the collateral, including returned or repossessed goods; (2)Collect, compromise, enforce or otherwise deal with collateral; (3)Accept the return of collateral or make repossessions; or (4)Use, commingle or dispose of proceeds; or (b)The secured party fails to require the debtor to account for proceeds or replace collateral.