679.627 – Determination of whether conduct was commercially reasonable.
679.627 Determination of whether conduct was commercially reasonable.— (1) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, […]
679.628 – Nonliability and limitation on liability of secured party; liability of secondary obligor.
679.628 Nonliability and limitation on liability of secured party; liability of secondary obligor.— (1) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person: (a) The secured party is not liable to the person, or to a secured party or lienholder […]
679.617 – Rights of transferee of collateral.
679.617 Rights of transferee of collateral.— (1) A secured party’s disposition of collateral after default: (a) Transfers to a transferee for value all of the debtor’s rights in the collateral; (b) Discharges the security interest under which the disposition is made; and (c) Discharges any subordinate security interest or other subordinate lien other than liens created under statutes providing for […]
679.618 – Rights and duties of certain secondary obligors.
679.618 Rights and duties of certain secondary obligors.— (1) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (a) Receives an assignment of a secured obligation from the secured party; (b) Receives a transfer of collateral from the secured party and agrees to accept the rights and […]
679.619 – Transfer of record or legal title.
679.619 Transfer of record or legal title.— (1) In this section, the term “transfer statement” means a record authenticated by a secured party stating: (a) That the debtor has defaulted in connection with an obligation secured by specified collateral; (b) That the secured party has exercised its post-default remedies with respect to the collateral; (c) That, by reason of the […]
679.620 – Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
679.620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.— (1) Except as otherwise provided in subsection (7), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (a) The debtor consents to the acceptance under subsection (3); (b) The secured party does not receive, within […]
679.621 – Notification of proposal to accept collateral.
679.621 Notification of proposal to accept collateral.— (1) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (a) Any person from whom the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in […]
679.622 – Effect of acceptance of collateral.
679.622 Effect of acceptance of collateral.— (1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: (a) Discharges the obligation to the extent consented to by the debtor; (b) Transfers to the secured party all of a debtor’s rights in the collateral; (c) Discharges the security interest or agricultural lien that is the […]
679.607 – Collection and enforcement by secured party.
679.607 Collection and enforcement by secured party.— (1) If so agreed, and in any event after default, a secured party: (a) 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; (b) May take any proceeds to which the secured party is […]
679.623 – Right to redeem collateral.
679.623 Right to redeem collateral.— (1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (2) To redeem collateral, a person shall tender: (a) Fulfillment of all obligations secured by the collateral; and (b) The reasonable expenses and attorney’s fees described in s. 679.615(1)(a). (3) A redemption may occur at any time before a secured […]