Section 6A-9-625. – Remedies for secured party’s failure to comply with chapter.
§ 6A-9-625. Remedies for secured party’s failure to comply with chapter. (a) Judicial orders concerning noncompliance. If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. (b) Damages for noncompliance. Subject to […]
Section 6A-9-626. – Action in which deficiency or surplus is in issue.
§ 6A-9-626. Action in which deficiency or surplus is in issue. (a) Applicable rules if amount of deficiency or surplus in issue. 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: (1) A secured party need […]
Section 6A-9-627. – Determination of whether conduct was commercially reasonable.
§ 6A-9-627. 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 […]
Section 6A-9-613. – Contents and form of notification before disposition of collateral — General.
§ 6A-9-613. 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: (i) Describes the debtor and the secured party; (ii) Describes the collateral that is the subject of the intended disposition; […]
Section 6A-9-628. – Nonliability and limitation on liability of secured party; liability of secondary obligor.
§ 6A-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. (a) Limitation of liability of secured party for noncompliance with chapter. 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: (1) The secured […]
Section 6A-9-614. – Contents and form of notification before disposition of collateral — Consumer-goods transaction.
§ 6A-9-614. 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: (i) The information specified in § 6A-9-613(1); (ii) A description of any liability for a deficiency of the person to which the notification […]
Section 6A-9-701. – Effective date.
§ 6A-9-701. Effective date. This chapter takes effect on July 1, 2001. History of Section.P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6.
Section 6A-9-615. – Application of proceeds of disposition; liability for deficiency and right to surplus.
§ 6A-9-615. 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 § 6A-9-610 in the following order to: (1) The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, […]
Section 6A-9-702. – Savings clause.
§ 6A-9-702. Savings clause. (a) Pre-effective-date transactions or liens. Except as otherwise provided in this part, this chapter applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this chapter takes effect. (b) Continuing validity. Except as otherwise provided in subsection (c) and §§ […]
Section 6A-9-615.1. – Security interests — Cross collateral.
§ 6A-9-615.1. Security interests — Cross collateral. (a) In a credit transaction for the sale of consumer goods or services the creditor may, subject to the provisions on termination of security interests in subsections (b) and (c) of this section, take a security interest in property of the buyer in addition to the goods sold […]