Can you summarize NVRS 104.9405?
This legal document, governed by the Nevada Revised Statutes, specifically addresses the modification of or substitution for assigned contracts. It states that a modification or substitution made in good faith is effective against an assignee, who acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. However, this provision is subject to certain conditions, such as the right to payment not being fully earned or the account debtor not receiving notification of the assignment.
Can you summarize NVRS 104.9406?
This section of the Nevada Revised Statutes, under the Uniform Commercial CodeOriginal Articles, governs the discharge of account debtors, notification of assignment, identification and proof of assignment, and restrictions on the assignment of accounts, chattel paper, payment intangibles, and promissory notes. It states that an account debtor may discharge its obligation by paying the assignor until it receives a notification authenticated by the assignor or assignee, indicating that the amount due has been assigned and payment should be made to the assignee.
Can you summarize NVRS 104.9407?
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the restrictions on assignment, transfer, creation, or enforcement of security interest in leasehold interest or in the lessors residual interest. It states that a lease agreement term is ineffective if it prohibits, restricts, or requires consent for assignment, transfer, creation, attachment, perfection, or enforcement of a security interest in a party’s interest under the lease contract or in the lessor’s residual interest in the goods.
Can you summarize NVRS 104.9408?
This legal document, part of the Nevada Revised Statutes, governs the assignment or transfer of promissory notes, health-care insurance receivables, and certain general intangibles. It states that any term in a promissory note or agreement that prohibits, restricts, or requires consent for the assignment, transfer, creation, attachment, or perfection of a security interest in these assets is ineffective if it impairs the creation, attachment, or perfection of a security interest or if it provides that the assignment or transfer may give rise to default, breach, right of recoupment, claim, defense, termination, right of termination, or remedy under the promissory note, health-care-insurance receivable, or general intangible.
Can you summarize NVRS 104.9409?
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, addresses the restrictions on the assignment of letter-of-credit rights. It states that any term in a letter of credit or any rule of law, statute, regulation, custom, or practice that prohibits, restricts, or requires consent for the assignment of or creation of a security interest in a letter-of-credit right is ineffective to the extent that it impairs the creation, attachment, or perfection of a security interest or provides that such assignment or creation of security interest may give rise to default, breach, claim, or termination under the letter-of-credit right.
Can you summarize NVRS 104.9501?
This legal document governs the process of perfecting security interests and agricultural liens. It specifies the filing office where creditors should file a financing statement to perfect their security interest or agricultural lien. The designated office depends on the nature of the collateral and the type of filing. If the collateral is as-extracted collateral or timber to be cut, or if the financing statement is filed as a fixture filing for goods that are or are to become fixtures, the filing should be made at the office designated for filing or recording a mortgage on real property.
Can you summarize NVRS 104.9502?
This legal document pertains to the requirements for a financing statement and the record of a mortgage as a financing statement. It specifies that a financing statement must include the name of the debtor, the name of the secured party or their representative, and indicate the collateral covered. Additionally, if the financing statement covers as-extracted collateral or timber to be cut, or if it is filed as a fixture filing and covers goods that are or will become fixtures, it must also indicate this type of collateral, be filed for record in the real property records, provide a description of the related real property, and provide the name of a record owner if the debtor does not have an interest of record in the real property.
Can you summarize NVRS 104.9503?
This legal document provides guidelines for properly providing the name of the debtor in a financing statement. The document outlines specific requirements based on the type of debtor, such as registered organizations, trusts, natural persons with driver’s licenses, and natural persons without driver’s licenses. It also clarifies that a financing statement may include the names of multiple debtors and secured parties. The document further explains that failure to indicate the representative capacity of a secured party does not affect the sufficiency of a financing statement.
Can you summarize NVRS 104.9504?
A
financing statement sufficiently indicates the collateral that it covers if the
financing statement provides: 1.A
description of the collateral pursuant to NRS
104.9108 ; or 2.An indication that the financing
statement covers all assets or all personal property. (Added to NRS by 1999,
330; A 2001,
729)
Can you summarize NVRS 104.9505?
This legal document governs the filing of financing statements in compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. It applies to consignors, lessors, bailors, licensors, and buyers of payment intangibles or promissory notes. The document allows these parties to file a financing statement or comply with specified statutes or treaties using specific terms related to their roles instead of the terms ‘secured party’ and ‘debtor.