§ 6A-9-626 Action in which deficiency orsurplus is in issue. – (a) Applicable rules if amount of deficiency or surplus in issue. In anaction arising from a transaction, other than a consumer transaction, in whichthe amount of a deficiency or surplus is in issue, the following rules apply:
(1) A secured party need not prove compliance with theprovisions of this part relating to collection, enforcement, disposition, oracceptance unless the debtor or a secondary obligor places the secured party'scompliance in issue.
(2) If the secured party's compliance is placed in issue, thesecured 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 § 6A-9-628, if asecured party fails to prove that the collection, enforcement, disposition, oracceptance was conducted in accordance with the provisions of this partrelating to collection, enforcement, disposition, or acceptance, the liabilityof a debtor or a secondary obligor for a deficiency is limited to an amount bywhich the sum of the secured obligation, expenses, and attorney's fees exceedsthe greater of:
(i) The proceeds of the collection, enforcement, disposition,or acceptance; or
(ii) The amount of proceeds that would have been realized hadthe noncomplying secured party proceeded in accordance with the provisions ofthis part relating to collection, enforcement, disposition, or acceptance.
(4) For purposes of paragraph (3)(ii), the amount of proceedsthat 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 amountis less than that sum.
(5) If a deficiency or surplus is calculated under §6A-9-615(f), the debtor or obligor has the burden of establishing that theamount of proceeds of the disposition is significantly below the range ofprices that a complying disposition to a person other than the secured party, aperson related to the secured party, or a secondary obligor would have brought.
(b) Non-consumer transactions; no inference. Thelimitation of the rules in subsection (a) to transactions other than consumertransactions is intended to leave to the court the determination of the properrules in consumer transactions. The court may not infer from that limitationthe nature of the proper rule in consumer transactions and may continue toapply established approaches.
§ 6A-9-626 Action in which deficiency orsurplus is in issue. – (a) Applicable rules if amount of deficiency or surplus in issue. In anaction arising from a transaction, other than a consumer transaction, in whichthe amount of a deficiency or surplus is in issue, the following rules apply:
(1) A secured party need not prove compliance with theprovisions of this part relating to collection, enforcement, disposition, oracceptance unless the debtor or a secondary obligor places the secured party'scompliance in issue.
(2) If the secured party's compliance is placed in issue, thesecured 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 § 6A-9-628, if asecured party fails to prove that the collection, enforcement, disposition, oracceptance was conducted in accordance with the provisions of this partrelating to collection, enforcement, disposition, or acceptance, the liabilityof a debtor or a secondary obligor for a deficiency is limited to an amount bywhich the sum of the secured obligation, expenses, and attorney's fees exceedsthe greater of:
(i) The proceeds of the collection, enforcement, disposition,or acceptance; or
(ii) The amount of proceeds that would have been realized hadthe noncomplying secured party proceeded in accordance with the provisions ofthis part relating to collection, enforcement, disposition, or acceptance.
(4) For purposes of paragraph (3)(ii), the amount of proceedsthat 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 amountis less than that sum.
(5) If a deficiency or surplus is calculated under §6A-9-615(f), the debtor or obligor has the burden of establishing that theamount of proceeds of the disposition is significantly below the range ofprices that a complying disposition to a person other than the secured party, aperson related to the secured party, or a secondary obligor would have brought.
(b) Non-consumer transactions; no inference. Thelimitation of the rules in subsection (a) to transactions other than consumertransactions is intended to leave to the court the determination of the properrules in consumer transactions. The court may not infer from that limitationthe nature of the proper rule in consumer transactions and may continue toapply established approaches.
§ 6A-9-626 Action in which deficiency orsurplus is in issue. – (a) Applicable rules if amount of deficiency or surplus in issue. In anaction arising from a transaction, other than a consumer transaction, in whichthe amount of a deficiency or surplus is in issue, the following rules apply:
(1) A secured party need not prove compliance with theprovisions of this part relating to collection, enforcement, disposition, oracceptance unless the debtor or a secondary obligor places the secured party'scompliance in issue.
(2) If the secured party's compliance is placed in issue, thesecured 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 § 6A-9-628, if asecured party fails to prove that the collection, enforcement, disposition, oracceptance was conducted in accordance with the provisions of this partrelating to collection, enforcement, disposition, or acceptance, the liabilityof a debtor or a secondary obligor for a deficiency is limited to an amount bywhich the sum of the secured obligation, expenses, and attorney's fees exceedsthe greater of:
(i) The proceeds of the collection, enforcement, disposition,or acceptance; or
(ii) The amount of proceeds that would have been realized hadthe noncomplying secured party proceeded in accordance with the provisions ofthis part relating to collection, enforcement, disposition, or acceptance.
(4) For purposes of paragraph (3)(ii), the amount of proceedsthat 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 amountis less than that sum.
(5) If a deficiency or surplus is calculated under §6A-9-615(f), the debtor or obligor has the burden of establishing that theamount of proceeds of the disposition is significantly below the range ofprices that a complying disposition to a person other than the secured party, aperson related to the secured party, or a secondary obligor would have brought.
(b) Non-consumer transactions; no inference. Thelimitation of the rules in subsection (a) to transactions other than consumertransactions is intended to leave to the court the determination of the properrules in consumer transactions. The court may not infer from that limitationthe nature of the proper rule in consumer transactions and may continue toapply established approaches.
