11 §9-1709. Priority
§9-1709. Priority (1). This Article determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this Article takes effect, former Article 9 determines priority. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). For purposes of section […]
11 §9-1707. Amendment of preeffective-date financing statement
§9-1707. Amendment of preeffective-date financing statement (1). In this section, “preeffective-date financing statement” means a financing statement filed before this Article takes effect. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). After this Article takes effect, a person may add or delete collateral covered by, […]
11 §9-1708. Persons entitled to file initial financing statement or continuation statement
§9-1708. Persons entitled to file initial financing statement or continuation statement A person may file an initial financing statement or a continuation statement under this part if: [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (1). The secured party of record authorizes the filing; and […]
11 §9-1621. Notification of proposal to accept collateral
§9-1621. 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 which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim […]
11 §9-1622. Effect of acceptance of collateral
§9-1622. 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; [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (b). Transfers […]
11 §9-1623. Right to redeem collateral
§9-1623. Right to redeem collateral (1). A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). To redeem collateral, a person shall tender: (a). Fulfillment of all obligations secured by the […]
11 §9-1624. Waiver
§9-1624. Waiver (1). A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 9-1611 only by an agreement to that effect entered into and authenticated after default. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).] (2). A debtor may […]
11 §9-1625. Remedies for secured party’s failure to comply with Article
§9-1625. Remedies for secured party’s failure to comply with Article (1). If it is established that a secured party is not proceeding in accordance with this Article, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, […]
11 §9-1626. Action in which deficiency or surplus is in issue
§9-1626. Action in which deficiency or surplus is in issue (1). In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply. (a). A secured party need not prove compliance with the provisions of this part relating […]
11 §9-1627. Determination of whether conduct was commercially reasonable
§9-1627. 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 […]