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RSA 382-A:3-106 · Unconditional Promise or Order

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

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382-A:3-106 Unconditional Promise or Order. –

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(a)

Except as provided in this section, for the purposes of Section 3-104(a), a promise or order is unconditional unless it states (i) an express condition to payment, (ii) that the promise or order is subject to or governed by another writing, or (iii) that rights or obligations with respect to the promise or order are stated in another writing. A reference to another writing does not of itself make the promise or order conditional.

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(b)

A promise or order is not made conditional (i) by a reference to another writing for a statement of rights with respect to collateral, prepayment, or acceleration, or (ii) because payment is limited to resort to a particular fund or source.

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(c)

If a promise or order requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the promise or order, the condition does not make the promise or order conditional for the purposes of Section 3-104(a). If the person whose specimen signature appears on an instrument fails to countersign the instrument, the failure to countersign is a defense to the obligation of the issuer, but the failure does not prevent a transferee of the instrument from becoming a holder of the instrument.

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(d)

If a promise or order at the time it is issued or first comes into possession of a holder contains a statement, required by applicable statutory or administrative law, to the effect that the rights of a holder or transferee are subject to claims or defenses that the issuer could assert against the original payee, the promise or order is not thereby made conditional for the purposes of Section 3-104(a); but if the promise or order is an instrument, there cannot be a holder in due course of the instrument. Source. 1993, 346:1, eff. Jan. 1, 1994.

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Source note

Source. 1993, 346:1, eff. Jan. 1, 1994.

Source history

1993, 346:1, eff. Jan. 1, 1994

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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