679.706 – When initial financing statement suffices to continue effectiveness of financing statement.
679.706 When initial financing statement suffices to continue effectiveness of financing statement.— (1) The filing of an initial financing statement in the office specified in s. 679.5011 continues the effectiveness of a financing statement filed before this act takes effect if: (a) The filing of an initial financing statement in that office would be effective to perfect a […]
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 […]
679.608 – Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
679.608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.— (1) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (a) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under s. 679.607 in the following […]
679.624 – Waiver.
679.624 Waiver.— (1) A debtor or secondary obligor may waive the right to notification of disposition of collateral under s. 679.611 only by an agreement to that effect entered into and authenticated after default. (2) A debtor may waive the right to require disposition of collateral under s. 679.620(5) only by an agreement to that effect entered into […]
679.609 – Secured party’s right to take possession after default.
679.609 Secured party’s right to take possession after default.— (1) After default, a secured party: (a) May take possession of the collateral; and (b) Without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under s. 679.610. (2) A secured party may proceed under subsection (1): (a) Pursuant to judicial process; or (b) Without judicial process, if it […]