§490:1-202  Notice; knowledge.  (a) 
Subject to subsection (f), a person has "notice" of a fact if the
person:



(1)  Has actual knowledge of it;



(2)  Has received a notice or notification of it; or



(3)  From all the facts and circumstances known to the
person at the time in question, has reason to know that it exists.



(b)  "Knowledge" means actual
knowledge.  "Knows" has a corresponding meaning.



(c)  "Discover", "learn",
or words of similar import refer to knowledge rather than to reason to know.



(d)  A person "notifies" or
"gives" a notice or notification to another by taking steps
reasonably required to inform the other in ordinary course, whether or not the
other person actually comes to know of it.



(e)  Subject to subsection (f), a person
"receives" a notice or notification when:



(1)  It comes to that person's attention; or



(2)  It is duly delivered in a form reasonable under
the circumstances at the place of business through which the contract was made
or at another location held out by that person as the place for receipt of such
communications.



(f)  Notice, knowledge, or a notice or
notification received by an organization is effective for a particular
transaction from the time it is brought to the attention of the individual
conducting that transaction and from the time it would have been brought to the
individual's attention if the organization had exercised due diligence.  An
organization exercises due diligence if it maintains reasonable routines for
communicating significant information to the person conducting the transaction
and there is reasonable compliance with the routines.  Due diligence does not
require an individual acting for the organization to communicate information
unless the communication is part of the individual's regular duties or the
individual has reason to know of the transaction and that the transaction would
be materially affected by the information. [L 2004, c 162, pt of §1]