62A.9A-627 – Determination of whether conduct was commercially reasonable.
RCW 62A.9A-627 Determination of whether conduct was commercially reasonable. (a) Greater amount obtainable under other circumstances; no preclusion of commercial reasonableness. 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 […]
62A.9A-614 – Contents and form of notification before disposition of collateral: Consumer-goods transaction.
RCW 62A.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 RCW 62A.9A-613(1); (B) A description of any liability for a deficiency of the person to which the notification is […]
62A.9A-615 – Application of proceeds of disposition; liability for deficiency and right to surplus.
RCW 62A.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 RCW 62A.9A-610 in the following order to: (1) The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, […]
62A.9A-616 – Explanation of calculation of surplus or deficiency.
RCW 62A.9A-616 Explanation of calculation of surplus or deficiency. (a) Definitions. 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, […]
62A.9A-617 – Rights of transferee of collateral.
RCW 62A.9A-617 Rights of transferee of collateral. (a) Effects of disposition. A secured party’s disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor’s rights in the collateral; (2) Discharges the security interest under which the disposition is made; and (3) Discharges any subordinate security interest or other subordinate […]
62A.9A-618 – Rights and duties of certain secondary obligors.
RCW 62A.9A-618 Rights and duties of certain secondary obligors. (a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) Receives an assignment of a secured obligation from the secured party; (2) Receives a transfer of collateral […]
62A.9A-619 – Transfer of record or legal title.
RCW 62A.9A-619 Transfer of record or legal title. (a) “Transfer statement.” In this section, “transfer statement” means a record authenticated by a secured party stating: (1) That the debtor has defaulted in connection with an obligation secured by specified collateral; (2) That the secured party has exercised its post-default remedies with respect to the collateral; […]
62A.9A-620 – Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
RCW 62A.9A-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. (a) Conditions to acceptance in satisfaction. A secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (1) The debtor consents to the acceptance under subsection (c) of this section; (2) The […]
62A.9A-621 – Notification of proposal to accept collateral.
RCW 62A.9A-621 Notification of proposal to accept collateral. (a) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) Any other secured party or lienholder that, ten days before the debtor consented to the […]
62A.9A-622 – Effect of acceptance of collateral.
RCW 62A.9A-622 Effect of acceptance of collateral. (a) Effect of acceptance. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) Discharges the obligation to the extent consented to by the debtor; (2) Transfers to the secured party all of a debtor’s rights in the collateral; (3) Discharges […]