US Lawyer Database

§46-9-705. Effectiveness of Action Taken Before Effective Date

§46-9-705. Effectiveness of action taken before effective date. (a) Pre-effective-date action; two-year perfection period unless reperfected. If action, other than the filing of a financing statement, is taken before this article takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien […]

§46-9-618. 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;

§46-9-619. 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;

§46-9-621. 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 person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of […]

§46-9-622. 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;

§46-9-623. Right to Redeem Collateral

(a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) Requirements for redemption. To redeem collateral, a person shall tender: (1) Fulfillment of all obligations secured by the collateral; and

§46-9-624. Waiver

(a) Waiver of disposition notification. A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 9-611 only by an agreement to that effect entered into and authenticated after default. (b) Waiver of mandatory disposition. A debtor may waive the right to require disposition of collateral under section 9-620(e) […]

§46-9-625. Remedies for Secured Party's Failure to Comply With Article

§46-9-625. Remedies for secured party's failure to comply with article. (a) Judicial orders concerning noncompliance. — 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. (b) Damages for noncompliance. — Subject […]