Duty of care when secured party in possession. Except as otherwise provided in subsection (d) of this Code section, a secured party shall use reasonable care in the custody and preservation of collateral in the secured party’s possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to […]
Applicability of Code section. This Code section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur obligations, or otherwise give value. Duties of secured party after receiving demand from debtor. Within ten days after receiving an authenticated demand by the […]
Applicability of Code section. Except as otherwise provided in subsection (c) of this Code section, this Code section applies if: There is no outstanding secured obligation; and The secured party is not committed to make advances, incur obligations, or otherwise give value. Duties of secured party after receiving demand from debtor. Within ten […]
Definitions. As used in this Code section, the term: “Request” means a record of a type described in paragraph (2), (3), or (4) of this subsection. “Request for an accounting” means a record authenticated by a debtor requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying […]
