47-9627. 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.