Section 6A-9-607. – Collection and enforcement by secured party.
§ 6A-9-607. Collection and enforcement by secured party. (a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party: (1) 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; (2) May […]
Section 6A-9-608. – Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
§ 6A-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. (a) Application of proceeds, surplus, and deficiency if obligation secured. If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application […]
Section 6A-9-520. – Acceptance and refusal to accept record.
§ 6A-9-520. Acceptance and refusal to accept record. (a) Mandatory refusal to accept record. A filing office shall refuse to accept a record for filing for a reason set forth in § 6A-9-516(b) and may refuse to accept a record for filing only for a reason set forth in § 6A-9-516(b). (b) Communication concerning refusal. […]
Section 6A-9-609. – Secured party’s right to take possession after default.
§ 6A-9-609. Secured party’s right to take possession after default. (a) Possession; rendering equipment unusable; disposition on debtor’s premises. After default, a secured party: (1) May take possession of the collateral; and (2) Without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under § 6A-9-610. (b) Judicial and nonjudicial process. […]
Section 6A-9-521. – Uniform form of written financing statement and amendment.
§ 6A-9-521. Uniform form of written financing statement and amendment. (a) Initial financing statement form. A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth in § 6A-9-516(b): (b) Amendment form. A filing office that accepts […]
Section 6A-9-610. – Disposition of collateral after default.
§ 6A-9-610. Disposition of collateral after default. (a) Disposition after default. After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (b) Commercially reasonable disposition. Every aspect of a disposition of collateral, including the […]
Section 6A-9-506. – Effect of errors or omissions.
§ 6A-9-506. Effect of errors or omissions. (a) Minor errors and omissions. A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Financing statement seriously misleading. Except as otherwise provided in subsection (c), […]
Section 6A-9-507. – Effect of certain events on effectiveness of financing statement.
§ 6A-9-507. Effect of certain events on effectiveness of financing statement. (a) Disposition. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition. […]
Section 6A-9-508. – Effectiveness of financing statement if new debtor becomes bound by security agreement.
§ 6A-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement. (a) Financing statement naming original debtor. Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the […]
Section 6A-9-509. – Persons entitled to file a record.
§ 6A-9-509. Persons entitled to file a record. (a) Person entitled to file record. A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if: (1) The debtor authorizes the filing in an authenticated record or pursuant […]