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RSA 382-A:12-104 · Rights in Controllable Account, Controllable Electronic Record, and Controllable Payment Intangible

Title
XXXIV-A: UNIFORM COMMERCIAL CODE
Chapter
382-A · UNIFORM COMMERCIAL CODE
Status
current
Official source linked
Yes
Official source Copy section link

382-A:12-104 Rights in Controllable Account, Controllable Electronic Record, and Controllable Payment Intangible. – (a)Applicability of section to controllable account and controllable payment intangible. This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits of a purchaser and a qualifying purchaser under subsections (d), (e), (g), and (h), in the same manner this section applies to a controllable electronic record. (b)Control of controllable account and controllable payment intangible. To determine whether a purchaser of a controllable account or a controllable payment intangible is a qualifying purchaser, the purchaser obtains control of the account or payment intangible if it obtains control of the controllable electronic record that evidences the account or payment intangible. (c)Applicability of other law to acquisition of rights. Except as provided in this section, law other than this article determines whether a person acquires a right in a controllable electronic record and the right the person acquires. (d)Shelter principle and purchase of limited interest. A purchaser of a controllable electronic record acquires all rights in the controllable electronic record that the transferor had or had power to transfer, except that a purchaser of a limited interest in a controllable electronic record acquires rights only to the extent of the interest purchased. (e)Rights of qualifying purchaser. A qualifying purchaser acquires its rights in the controllable electronic record free of a claim of a property right in the controllable electronic record. (f)Limitation of rights of qualifying purchaser in other property. Except as provided in subsections (a) and (e) for a controllable account and a controllable payment intangible or law other than this article, a qualifying purchaser takes a right to payment, right to performance, or interest in property evidenced by the controllable electronic record subject to a claim of a property right in the right to payment, right to performance, or other interest in property. (g)No-action protection for qualifying purchaser. An action may not be asserted against a qualifying purchaser based on both a purchase by the qualifying purchaser of a controllable electronic record and a claim of a property right in another controllable electronic record, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory. (h)Filing not notice. Filing of a financing statement under Article 9 is not notice of a claim of a property right in a controllable electronic record. Source. 2022, 281:81, eff. Jan. 1, 2023. 2023, 236:83, 84, eff. Oct. 7, 2023.

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Source note

Source. 2022, 281:81, eff. Jan. 1, 2023. 2023, 236:83, 84, eff. Oct. 7, 2023.

Source history

  • 2022, 281:81, eff. Jan. 1, 2023
  • 2023, 236:83, 84, eff. Oct. 7, 2023

Related materials

Bill relationships

  • 2026 HB1066 reference

    installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. For purposes of this section and RSA 382-A, building or facility improvements related to the installation, purpose, or operation of such equipment shall be deemed to constitute equipment and the costs of such improvements may be financed through lease agreements

  • 2026 HB1066-FN reference

    installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. For purposes of this section and RSA 382-A, building or facility improvements related to the installation, purpose, or operation of such equipment shall be deemed to constitute equipment and the costs of such improvements may be financed through lease agreements

  • 2026 HB1748 reference · effective 2027-01-01

    V. Any mortgage, pledge, or security interest made by the authority under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of RSA 382-A and all other laws from the time when the mortgage, pledge, or security interest is made. The property or revenues so mortgaged, pledged, or subjected to a security interest then held or thereafter acquired or received

  • 2026 HB1748-FN reference · effective 2027-01-01

    V. Any mortgage, pledge, or security interest made by the authority under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of RSA 382-A and all other laws from the time when the mortgage, pledge, or security interest is made. The property or revenues so mortgaged, pledged, or subjected to a security interest then held or thereafter acquired or received

  • 2026 SB56 reference · effective 2031-07-01

    rfected from the time when the security document is executed with or without any subsequent physical delivery or segregation of the money and without any filing or recording under RSA 382-A or otherwise] A pledge of property, revenues, or other collateral by the authority to secure the payment of principal or redemption price of, or interest on, any bonds, or any reimbursement or similar agreement with any