TITLE XL
AGRICULTURE, HORTICULTURE AND ANIMAL HUSBANDRY
Chapter 439
STATE FOOD SECURITY ACT
Section 439:1
439:1 Definitions. –
The following terms as used in this chapter shall have the meanings given them in Section 1324 of the Food Security Act of 1985, 7 USC section 1631, as amended, and in the regulations adopted pursuant thereto: "amount [of farm products]," "buyer in the ordinary course of business," "commission merchant," "crop year," "description [of farm products]," "farm products," "farm product category," "reasonable description of the real estate," "security interest," and "selling agent."
Source. 2001, 102:32, eff. July 1, 2001.
Section 439:2
439:2 Protection for Buyers of Farm Products. –
I. A secured party may enforce a security interest in farm products against a buyer who, in the ordinary course of business, purchases farm products from, or a commission merchant or selling agent who, in the ordinary course of business, sells farm products for a person engaged in farming operations only where the buyer, commission merchant or selling agent has received from the secured party or seller written notice of the security interest which complies with the requirements of Section 1324 of the Food Security Act of 1985, as amended, or where the secured party has signed and filed with the secretary of state a form containing the following information:
(a) The name and address of the borrower.
(b) The borrower's signature.
(c) The name and address of the secured party.
(d) The social security number of the borrower, or in the case of a borrower doing business other than as an individual, the borrower's Internal Revenue Service taxpayer identification number.
(e) A description of the farm products subject to the security interest, including the amount of such products, where applicable.
(f) A reasonable description of the real estate, including the name of the county, where the farm products are located.
II. The form described in paragraph I shall be amended in writing, and similarly signed and filed, to reflect material changes within 3 months of such changes. The effectiveness and continuation or amendment of the form is to be treated as if it were a financing statement filed under RSA 382-A:9. The fee for filing and indexing the form described in paragraph I, or any continuation or amendment thereof, shall be in accordance with RSA 478:17-g.
Source. 2001, 102:32, eff. July 1, 2001.
Section 439:3
439:3 Duties of Secretary of State. –
I. The secretary of state or his or her designee shall develop and implement a central indexing system containing the information filed pursuant to RSA 439:2. Under this system the secretary of state shall record the date and time of filing and compile the information into a master list organized according to farm products. The list shall be organized within each farm product category in alphabetical order according to the last name of the borrower (or, in the case of borrowers doing business other than as individuals, the first word in the name of such borrower), in numerical order according to the social security or taxpayer identification number of the borrower, geographically by county, and by crop year. The master list shall also contain the name and address of the secured party, the name and address of the borrower, a description of the farm products, including amount where applicable, subject to the security interest, and a reasonable description of the real estate, including the county, where the farm products are located.
II. The secretary of state shall maintain a list of all buyers of farm products, commission merchants, and selling agents who register with the secretary of state indicating an interest in receiving the lists described in paragraph III. The fee for such registration shall be $100 annually.
III. The secretary of state shall distribute, on a regular basis to be determined by the secretary of state, to each buyer, commission merchant, and selling agent registered under paragraph II a copy in written or printed form of those portions of the master list which the buyer, commission merchant, or selling agent has indicated an interest in receiving.
IV. Upon the request of any person the secretary of state shall provide, within 24 hours, an oral confirmation of the filing of the form described in RSA 439:2 followed by a written confirmation.
Source. 2001, 102:32, eff. July 1, 2001.