Nevada § 104.930601 - Law governing perfection and priority of security interests in chattel paper

§ 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 an authoritative tangible copy, the law of the chattel paper's jurisdiction

governs perfection, the effect of perfection or nonperfection and the priority of

a security interest in the chattel paper, even if a transaction does not bear any

relation to the chattel paper's jurisdiction. 2. The following rules determine the chattel paper's jurisdiction under this section: (a) If the authoritative electronic copy of the record evidencing chattel paper, or

a record attached to or logically associated with the electronic copy and readily

available for review, expressly provides that a particular jurisdiction is the chattel

paper's jurisdiction for purposes of this part, this Article or the Uniform Commercial

Code, that jurisdiction is the chattel paper's jurisdiction. (b) If paragraph (a) does not apply and the rules of the system in which the authoritative

electronic copy is recorded are readily available for review and expressly provide

that a particular jurisdiction is the chattel paper's jurisdiction for purposes of

this part, this Article or the Uniform Commercial Code, that jurisdiction is the chattel

paper's jurisdiction. (c) If paragraphs (a) and (b) do not apply and the authoritative electronic copy,

or a record attached to or logically associated with the electronic copy and readily

available for review, expressly provides that the chattel paper is governed by the

law of a particular jurisdiction, that jurisdiction is the chattel paper's jurisdiction. (d) If paragraphs (a), (b) and (c) do not apply and the rules of the system in which

the authoritative electronic copy is recorded are readily available for review and

expressly provide that the chattel paper or the system is governed by the law of a

particular jurisdiction, that jurisdiction is the chattel paper's jurisdiction. (e) If paragraphs (a) to (d), inclusive, do not apply, the chattel paper's jurisdiction

is the jurisdiction in which the debtor is located. 3. If an authoritative tangible copy of a record evidences chattel paper and the chattel

paper is not evidenced by an authoritative electronic copy, while the authoritative

tangible copy of the record evidencing chattel paper is located in a jurisdiction,

the law of that jurisdiction governs: (a) Perfection of a security interest in the chattel paper by possession under NRS 104.931401 ; and (b) The effect of perfection or nonperfection and the priority of a security interest

in the chattel paper. 4. The law of the jurisdiction in which the debtor is located governs perfection of

a security interest in chattel paper by filing.