§ 9-605. Unknown debtor or secondary obligor
A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor, unless the secured party knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C) how to communicate with the person; or (2) […]
§ 9-606. Time of default for agricultural lien
For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
§ 9-607. Collection and enforcement by secured party
(a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) may take any proceeds to which the secured party […]
§ 9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
(a) Application of proceeds, surplus, and deficiency if obligation secured. If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under § 9–607 in the following order to: (A) […]
§ 9-526. Filing-office rules
(a) Adoption of filing-office rules. The Lieutenant Governor shall adopt and publish rules to implement this article. The filing-office rules must be: (1) consistent with this article; and (2) adopted and published in accordance with Title 3, Chapter 35, Virgin Islands Code. (b) Harmonization of rules. To keep the filing-office rules and practices of the […]
§ 9-527. Duty to report
The Lieutenant Governor shall report annually on or before March 31st to the Governor and Legislature on the operation of the filing office. The report must contain a statement of the extent to which: (1) the filing-office rules are not in harmony with the rules of filing offices in other jurisdictions that enact substantially this […]
§ 9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
(a) Rights of secured party after default. After default, a secured party has the rights provided in this part and, except as otherwise provided in § 9–602, those provided by agreement of the parties. A secured party: (1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien […]
§ 9-602. Waiver and variance of rights and waiver and variance of rights and duties
Except as otherwise provided in § 9–624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (1) Section 9–207(b)(4)(C), which deals with use and operation of the collateral […]
§ 9-603. Agreement on standards concerning rights and duties
(a) Agreed standards. The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in § 9–602 if the standards are not manifestly unreasonable. (b) Agreed standards inapplicable to breach of peace. Subsection (a) does not […]
§ 9-525. Fees
(a) Initial financing statement or other record. Except as otherwise provided in subsection (e), fees for services rendered by the filing office under this Part must be set by rules adopted by the Lieutenant Governor pursuant to Title 3, Chapter 35, Virgin Islands Code. The rules must set the fees for filing and indexing a […]