CHAPTER 6. Default

Chapter 6 added by Stats. 1999, Ch. 991, Sec. 35.

§§ 9601–9629 · 29 sections

§ 9601 (a) After default, a secured party has the rights provided in this chapter and, except as otherwise provided in Section 9602, those rights provided by…
§ 9602 Except as otherwise provided in Section 9624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or…
§ 9603 (a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under…
§ 9604 (a) If an obligation secured by a security interest in personal property or fixtures is also secured by an interest in real property or an estate therein: (1)…
§ 9605 (a) Except as provided in subdivision (b), a secured party does not owe a duty based on its status as secured party to either of the following persons: (1) To…
§ 9606 For purposes of this chapter, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in…
§ 9607 (a) If so agreed, and in any event after default, a secured party may do all of the following: (1) Notify an account debtor or other person obligated on…
§ 9608 (a) 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…
§ 9609 (a) After default, a secured party may do both of the following: (1) Take possession of the collateral. (2) Without removal, render equipment unusable and…
§ 9610 (a) 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…
§ 9611 (a) In this section, “notification date” means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor a signed…
§ 9612 (a) Except as otherwise provided in subdivision (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a transaction other…
§ 9613 (a) Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification…
§ 9614 (a) In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide all of the following information: (A) The…
§ 9615 (a) A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9610 in the following order to each of the…
§ 9616 (a) In this section: (1) “Explanation” means a record that contains all of the following: (A) States the amount of the surplus or deficiency. (B) Provides an…
§ 9617 (a) A secured party’s disposition of collateral after default does all of the following: (1) Transfers to a transferee for value all of the debtor’s rights in…
§ 9618 (a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after any of the following occurs: (1) The…
§ 9619 (a) In this section, “transfer statement” means a record signed by a secured party stating all of the following: (1) That the debtor has defaulted in…
§ 9620 (a) Except as otherwise provided in subdivision (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if…
§ 9621 (a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to all of the…
§ 9622 (a) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures does all of the following: (1) It discharges the…
§ 9623 (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall tender both of…
§ 9624 (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 9611 only by an agreement to that effect…
§ 9625 (a) If it is established that a secured party is not proceeding in accordance with this division, a court may order or restrain collection, enforcement, or…
§ 9626 (a) 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…
§ 9627 (a) 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…
§ 9628 (a) Subject to subdivision (e), unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to…
§ 9629 No renunciation or modification by the debtor of any of his or her rights under this chapter as to consumer goods shall be valid or enforceable unless the…