Title 8

NRS 104.9108 Sufficiency of descriptions. 1. Except as otherwise provided in subsections 3, 4 and 5, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described. 2. Except as otherwise provided in subsecti…

NRS 104.9109 Scope of applicability. 1. Except as otherwise provided in subsections 3 and 4, this Article applies to: (a) A transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract; (b) An agricultural lien; (c) A sale of …

NRS 104.9110 Applicability to security interests arising under Article 2 or 2A. A security interest arising under NRS 104.2401, 104.2505, subsection 3 of 104.2711, or subsection 5 of NRS 104A.2508 is subject to this Article. However, until the debtor obtains possession of the goo…

NRS 104.9201 General effectiveness of security agreement. 1. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. 2. A transaction su…

NRS 104.9202 Title to collateral immaterial. Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles or promissory notes, the provisions of this article with regard to rights and obligations apply whether or not title to …

NRS 104.9203 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites. 1. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpon…

NRS 104.9204 After-acquired property; future advances. 1. Except as otherwise provided in subsection 2, a security agreement may create or provide for a security interest in after-acquired collateral. 2. Subject to subsection 3, a security interest does not attach under a term co…

NRS 104.9205 Use or disposition of collateral permissible. 1. A security interest is not invalid or fraudulent against creditors solely because: (a) The debtor has the right or ability to: (1) Use, commingle or dispose of all or part of the collateral, including returned or repos…

NRS 104.9206 Security interest arising in purchase or delivery of financial asset. 1. A security interest in favor of a securities intermediary attaches to a person’s security entitlement if: (a) The person buys a financial asset through the securities intermediary in a transacti…

NRS 104.9207 Rights and duties of secured party having possession or control of collateral. 1. Except as otherwise provided in subsection 4, a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of c…

NRS 104.9208 Additional duties of secured party having control of collateral. If there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations or otherwise give value, within 10 days after receiving a signed demand by the de…

NRS 104.9209 Duties of secured party if account debtor has been notified of assignment. 1. Except as otherwise provided in subsection 3, this section applies if: (a) There is no outstanding secured obligation; and (b) The secured party is not committed to make advances, incur obl…

NRS 104.9210 Request for accounting; request regarding list of collateral or statement of account. 1. In this section: (a) “Request” means a record of a type described in paragraph (b), (c) or (d). (b) “Request for an accounting” means a record signed by a debtor requesting that …

NRS 104.9301 Law governing perfection and priority of security interests. Except as otherwise provided in NRS 104.9303 to 104.930602, inclusive, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security i…

NRS 104.9302 Law governing perfection and priority of agricultural liens. While farm products are located in a jurisdiction, the law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. …

NRS 104.9303 Law governing perfection and priority of security interests in goods covered by certificate of title. 1. This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title …

NRS 104.9304 Law governing perfection and priority of security interests in deposit accounts. 1. The law of a bank’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank,…

NRS 104.9305 Law governing perfection and priority of security interests in investment property. 1. Except as otherwise provided in subsection 3, the following rules apply: (a) While a security certificate is located in a jurisdiction, the law of that jurisdiction governs perfect…

NRS 104.9306 Law governing perfection and priority of security interests in letter-of-credit rights. 1. Subject to subsection 3, the law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priori…

NRS 104.930601 Law governing perfection and priority of security interests in chattel paper. 1. Except as provided in subsection 4, if chattel paper is evidenced only by an authoritative electronic copy of the chattel paper or is evidenced by an authoritative electronic copy and …

NRS 104.930602 Law governing perfection and priority of security interests in controllable accounts, controllable electronic records and controllable payment intangibles. 1. Except as provided in subsection 2, the law of the controllable electronic record’s jurisdiction specified…

NRS 104.9307 Location of debtor. 1. In this section, “place of business” means a place where a debtor conducts its affairs. 2. Except as otherwise provided in this section, the following rules determine a debtor’s location: (a) A natural person is located at his or her residence.…

NRS 104.9308 When security interest or agricultural lien is perfected; continuity of perfection. 1. Except as otherwise provided in this section and NRS 104.9309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in NRS 104.…

NRS 104.9309 Security interest perfected upon attachment. The following security interests are perfected when they attach: 1. A purchase-money security interest in consumer goods, except as otherwise provided in subsection 2 of NRS 104.9311 with respect to consumer goods that are…

NRS 104.9310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply. 1. Except as otherwise provided in subsection 2 or subsection 2 of NRS 104.9312, a financing statement must be f…

NRS 104.9311 Perfection of security interests in property subject to certain statutes, regulations and treaties. 1. Except as otherwise provided in subsection 4, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject t…

NRS 104.9312 Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, negotiable documents, goods covered by documents, instruments, investment property, letter-of-credit rights …

NRS 104.9313 When possession by or delivery to secured party perfects security interest without filing. 1. Except as otherwise provided in subsection 2, a secured party may perfect a security interest in goods, instruments, negotiable tangible documents or money by taking possess…

NRS 104.9314 Perfection by control. 1. A security interest in controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, investment property or letter-of-credit rights may be perfected by control of the collat…

NRS 104.931401 Perfection by possession and control of chattel paper. 1. A secured party may perfect a security interest in chattel paper by taking possession of each authoritative tangible copy of the record evidencing the chattel paper and obtaining control of each authoritativ…

NRS 104.9315 Secured party’s rights on disposition of collateral and in proceeds. 1. Except as otherwise provided in this article and in subsection 2 of NRS 104.2403: (a) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchan…

NRS 104.9316 Continued perfection of security interest following change in governing law. 1. A security interest perfected pursuant to the law of the jurisdiction designated in subsection 1 of NRS 104.9301, subsection 3 of NRS 104.9305, subsection 4 of NRS 104.930601 or subsectio…

NRS 104.9317 Interests that take priority over or take free of unperfected security interest or agricultural lien. 1. A security interest or agricultural lien is subordinate to the rights of: (a) A person entitled to priority under NRS 104.9322; and (b) A person that becomes a li…

NRS 104.9318 No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers. 1. A debtor that has sold an account, chattel paper, payment intangible or promissory note does not retain a legal …

NRS 104.9319 Rights and title of consignee with respect to creditors and purchasers. 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…

NRS 104.9320 Protection of certain buyers of goods. 1. Except as otherwise provided in subsection 5, 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 …

NRS 104.9321 Protection of licensee of general intangible and lessee of goods in ordinary course of business. 1. In this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in good faith, without knowledge that the lic…

NRS 104.9322 Priorities among conflicting security interests in and agricultural liens on same collateral. 1. Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the f…

NRS 104.9323 Future advances. 1. Except as otherwise provided in subsection 3, for purposes of determining the priority of a perfected security interest under subsection 1 of NRS 104.9322, perfection of the security interest dates from the time an advance is made to the extent th…

NRS 104.9324 Priority of purchase-money security interests. 1. Subject to subsection 2 and except as otherwise provided in subsection 7, a perfected purchase-money security interest in inventory has priority over a conflicting security interest in the same inventory, has priority…

NRS 104.9325 Priority of security interests in transferred collateral. 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 c…

NRS 104.9326 Priority of security interests created by new debtor. 1. Subject to subsection 2, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ine…

NRS 104.932601 Priority of security interest in controllable account, controllable electronic record and controllable payment intangible. A security interest in a controllable account, controllable electronic record or controllable payment intangible held by a secured party havin…

NRS 104.9327 Priority among conflicting security interests in same deposit account. The following rules govern priority among conflicting security interests in the same deposit account: 1. A security interest held by a secured party having control of the deposit account under NRS…

NRS 104.9328 Priority among conflicting security interests in same investment property. The following rules govern priority among conflicting security interests in the same investment property: 1. A security interest held by a secured party having control of investment property u…

NRS 104.9329 Priority among conflicting security interests in same letter-of-credit right. The following rules govern priority among conflicting security interests in the same letter-of-credit right: 1. A security interest held by a secured party having control of the letter-of-c…