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RSA 382-A:9-208 · Additional Duties of Secured Party Having Control of Collateral

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

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382-A:9-208 Additional Duties of Secured Party Having Control of Collateral. –

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(a)

Applicability of section. This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value.

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(b)

Duties of secured party after receiving demand from debtor. Within 10 days after receiving a signed demand by the debtor:

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(1)

a secured party having control of a deposit account under Section 9-104(a)(2) shall send to the bank with which the deposit account is maintained a signed record that releases the bank from any further obligation to comply with instructions originated by the secured party;

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(2)

a secured party having control of a deposit account under Section 9-104(a)(3) shall:

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(A)

pay the debtor the balance on deposit in the deposit account; or

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(B)

transfer the balance on deposit into a deposit account in the debtor's name;

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(3)

a secured party, other than a buyer, having control under Section 9-105 of an electronic copy of a record evidencing chattel paper shall transfer control of the electronic copy to the debtor or a person designated by the debtor;

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(4)

a secured party having control of investment property under Section 8-106(d)(2) or 9-106(b) shall send to the securities intermediary or commodity intermediary with which the security entitlement or commodity contract is maintained an a signed record that releases the securities intermediary or commodity intermediary from any further obligation to comply with entitlement orders or directions originated by the secured party;

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(5)

a secured party having control of a letter-of-credit right under Section 9-107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds of the letter of credit to the secured party a signed release from any further obligation to pay or deliver proceeds of the letter of credit to the secured party;

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(6)

a secured party having control under Section 7-106 of an authoritative copy of an electronic document of title shall transfer control of the authoritative copy to the debtor or a person designated by the debtor; and

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(7)

A secured party having control under Section 12-105 of a controllable electronic record, other than a buyer of a controllable account or controllable payment intangible evidenced by the controllable electronic record, shall transfer control of the controllable electronic record to the debtor or a person designated by the debtor. Source. 2001, 102:25, eff. July 1, 2001. 2006, 169:39, eff. Jan. 1, 2007. 2022, 281:58, eff. Jan. 1, 2023. 2023, 236:37, 38, 97, eff. Oct. 7, 2023.

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Source note

Source. 2001, 102:25, eff. July 1, 2001. 2006, 169:39, eff. Jan. 1, 2007. 2022, 281:58, eff. Jan. 1, 2023. 2023, 236:37, 38, 97, eff. Oct. 7, 2023.

Source history

2001, 102:25, eff. July 1, 2001
2006, 169:39, eff. Jan. 1, 2007
2022, 281:58, eff. Jan. 1, 2023
2023, 236:37, 38, 97, 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