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.

This legal document, governed by the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, establishes the priority of interests over unperfected security interests or agricultural liens. It states that a security interest or agricultural lien is subordinate to the rights of a person entitled to priority under NRS 104.9322 and a person that becomes a lien creditor before the security interest or agricultural lien is perfected or certain conditions are met.

1.A debtor that has sold an account, chattel paper, payment intangible or promissory note does not retain a legal or equitable interest in the collateral sold. 2.For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyers security interest is unperfected, the debtor has rights and title to the account or chattel paper identical to those the debtor sold.

1.Except as otherwise provided in subsection 2, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer. 2.For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignees possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial Code, provides protection for certain buyers of goods. A buyer in the ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest is perfected and the buyer knows of its existence. Similarly, a buyer of goods primarily for personal, family, or household purposes takes free of a security interest if the buyer buys without knowledge of the security interest, for value, primarily for personal, family, or household purposes, and before the filing of a financing statement covering the goods.

This section of the Nevada Revised Statutes, under the Uniform Commercial CodeOriginal Articles, governs the protection of licensees of general intangibles and lessees of goods in the ordinary course of business. A ’licensee in ordinary course of business’ refers to a person who becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind.

This section of the Nevada Revised Statutes governs the priority among conflicting security interests and agricultural liens in the same collateral. It establishes rules for determining priority, such as ranking based on the time of filing or perfection, and the priority of perfected security interests over unperfected ones. The section also addresses the priority of the first security interest or agricultural lien to attach or become effective when conflicting security interests and agricultural liens are unperfected.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the priority of perfected security interests, advances made under certain conditions, and the rights of lien creditors. It specifies that the perfection of a security interest dates from the time an advance is made, provided that the security interest is perfected only under specific circumstances and not pursuant to a commitment entered into before or while the security interest is perfected.

This legal document, part of the Nevada Revised Statutes, specifically addresses the priority of purchase-money security interests. It establishes that a perfected purchase-money security interest in inventory takes priority over conflicting security interests in the same inventory, as well as over chattel paper, instruments constituting proceeds of the inventory, and identifiable cash proceeds of the inventory. Similar priority rules apply to purchase-money security interests in livestock, goods other than inventory or livestock, and software.

1.Except as otherwise provided in subsection 2, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (a)The debtor acquired the collateral subject to the security interest created by the other person; (b)The security interest created by the other person was perfected when the debtor acquired the collateral; and (c)There is no period thereafter when the security interest is unperfected.