TITLE 6A

Uniform Commercial Code

CHAPTER 6A-9

Secured Transactions

PART 6A-9-601

Default

SECTION 6A-9-627



   § 6A-9-627  Determination of whether

conduct was commercially reasonable. –

(a) Greater amount obtainable under other circumstances; no preclusion of

commercial reasonableness. 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) Dispositions that are commercially reasonable. 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) Approval by court or on behalf of creditors. 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) not necessary; absence

of approval has no effect. 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.



History of Section.

(P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6.)