§490:9-626  Action in which deficiency or
surplus is in issue.  (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 apply:



(1)  A secured party need not prove compliance with
the provisions of this part relating to collection, enforcement, disposition,
or acceptance unless the debtor or a secondary obligor places the secured
party's compliance in issue.



(2)  If the secured party's compliance is placed in
issue, the secured party has the burden of establishing that the collection,
enforcement, disposition, or acceptance was conducted in accordance with this
part.



(3)  Except as otherwise provided in section
490:9-628, if a secured party fails to prove that the collection, enforcement,
disposition, or acceptance was conducted in accordance with the provisions of
this part relating to collection, enforcement, disposition, or acceptance, the
liability of a debtor or a secondary obligor for a deficiency is limited to an
amount by which the sum of the secured obligation, expenses, and attorney's
fees exceeds the greater of:



(A)  The proceeds of the collection,
enforcement, disposition, or acceptance; or



(B)  The amount of proceeds that would have
been realized had the noncomplying secured party proceeded in accordance with
the provisions of this part relating to collection, enforcement, disposition,
or acceptance.



(4)  For purposes of paragraph (3)(B), the amount of
proceeds that would have been realized is equal to the sum of the secured
obligation, expenses, and attorney's fees unless the secured party proves that
the amount is less than that sum.



(5)  If a deficiency or surplus is calculated under
section 490:9-615(f), the debtor or obligor has the burden of establishing that
the amount of proceeds of the disposition is significantly below the range of
prices that a complying disposition to a person other than the secured party, a
person related to the secured party, or a secondary obligor would have brought.



(b)  The limitation of the rules in subsection
(a) to transactions other than consumer transactions is intended to leave to
the court the determination of the proper rules in consumer transactions.  The
court may not infer from that limitation the nature of the proper rule in
consumer transactions and may continue to apply established approaches. [L
2000, c 241, pt of §1]