§490:9-627  Determination of whether conduct

was commercially reasonable.  (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 method from that selected by the secured

party is not of itself sufficient to preclude the secured party from

establishing that the collection, enforcement, disposition, or acceptance was

made in a commercially reasonable manner.

     (b)  A disposition of collateral is made in a

commercially reasonable manner if the disposition is made:

     (1)  In the usual manner on any recognized market;

     (2)  At the price current in any recognized market at

the time of the disposition; or

     (3)  Otherwise in conformity with reasonable

commercial practices among dealers in the type of property that was the subject

of the disposition.

     (c)  A collection, enforcement, disposition, or

acceptance is commercially reasonable if it has been approved:

     (1)  In a judicial proceeding;

     (2)  By a bona fide creditors' committee;

     (3)  By a representative of creditors; or

     (4)  By an assignee for the benefit of creditors.

     (d)  Approval under subsection (c) need not be

obtained, and lack of approval does not mean that the collection, enforcement,

disposition, or acceptance is not commercially reasonable. [L 2000, c 241, pt

of §1]