§ 47-9624 – Waiver
47-9624. Waiver A. A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 47-9611 only by an agreement to that effect entered into and authenticated after default. B. A debtor may waive the right to require disposition of collateral under section 47-9620, subsection E only by an agreement […]
§ 47-9625 – Remedies for secured party’s failure to comply with chapter
47-9625. Remedies for secured party’s failure to comply with chapter A. If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions. B. Subject to subsections C, D and F of this section, […]
§ 47-9610 – Disposition of collateral after default
47-9610. Disposition of collateral after default A. After default, a secured party may sell, lease, license or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. B. Every aspect of a disposition of collateral, including the method, manner, time, place and other terms, […]
§ 47-9611 – Notification before disposition of collateral
47-9611. Notification before disposition of collateral A. In this section, " notification date" means the earlier of the date on which: 1. A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or 2. The debtor and any secondary obligor waive the right to notification. B. Except as otherwise […]
§ 47-9612 – Timeliness of notification before disposition of collateral
47-9612. Timeliness of notification before disposition of collateral A. Except as otherwise provided in subsection B, whether a notification is sent within a reasonable time is a question of fact. B. In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time […]
§ 47-9613 – Contents and form of notification before disposition of collateral; general
47-9613. Contents and form of notification before disposition of collateral; general Except in a consumer goods transaction, the following rules apply: 1. The contents of a notification of disposition are sufficient if the notification: (a) Describes the debtor and the secured party; (b) Describes the collateral that is the subject of the intended disposition; (c) […]
§ 47-9614 – Contents and form of notification before disposition of collateral: consumer goods transaction
47-9614. Contents and form of notification before disposition of collateral: consumer goods transaction In a consumer goods transaction, the following rules apply: 1. A notification of disposition must provide the following information: (a) The information specified in section 47-9613, paragraph 1; (b) A description of any liability for a deficiency of the person to which […]
§ 47-9615 – Application of proceeds of disposition; liability for deficiency and right to surplus
47-9615. Application of proceeds of disposition; liability for deficiency and right to surplus A. A secured party shall apply or pay over for application the cash proceeds of disposition under section 47-9610 in the following order to: 1. The reasonable expenses of retaking, holding, preparing for disposition, processing and disposing, and, to the extent provided […]
§ 47-9616 – Explanation of calculation of surplus or deficiency; definitions
47-9616. Explanation of calculation of surplus or deficiency; definitions A. In this section: 1. " Explanation" means a writing that: (a) States the amount of the surplus or deficiency; (b) Provides an explanation in accordance with subsection C of this section of how the secured party calculated the surplus or deficiency; (c) States, if applicable, […]
§ 47-9601 – Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes
47-9601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes A. After default, a secured party has the rights provided in this article and, except as otherwise provided in section 47-9602, those provided by agreement of the parties. A secured party: 1. May reduce a claim to […]