§ 8.9A-612. Timeliness of notification before disposition of collateral
A notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is considered sent within a reasonable time before the disposition. 2000, c. 1007.
§ 8.9A-613. 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) states the method of intended disposition; (D) states that the debtor is […]
§ 8.9A-614. 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 § 8.9A-613 (1); (B) a description of any liability for a deficiency of the person to which the notification is sent; (C) a telephone number from which the amount that must be […]
§ 8.9A-615. Application of proceeds of disposition; liability for deficiency and right to surplus
(a) Application of proceeds. A secured party shall apply or pay over for application the cash proceeds of disposition under § 8.9A-610 in the following order to: (1) the reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney’s […]
§ 8.9A-609. Secured party’s right to take possession after default
(a) Possession; rendering equipment unusable; disposition on debtor’s premises. After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under § 8.9A-610. (b) Judicial and nonjudicial process. A secured party may proceed under subsection (a): (1) pursuant […]
§ 8.9A-610. Disposition of collateral after default
(a) Disposition after default. 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) Commercially reasonable disposition. Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, […]
§ 8.9A-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 […]
§ 8.9A-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 § 8.9A-607 in the following order to: (A) […]
§ 8.9A-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 § 8.9A-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 […]
§ 8.9A-602. Waiver and variance of rights and duties
Except as otherwise provided in § 8.9A-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) § 8.9A-207 (b) (4) (C), which deals with use and operation […]