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Commercial Code - COM - COM § 9526
Commercial Code - COM - COM § 9526
(a) The Secretary of State shall adopt and publish rules to implement this division. The filing-office rules shall be consistent with this division. (b) To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in
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Commercial Code - COM - COM § 9526.5
Commercial Code - COM - COM § 9526.5
(a) For purposes of this section, the following terms have the following meanings: (1) “Official filing” means the permanent archival filing of all instruments, papers, records, and attachments as accepted for filing by a filing office. (2) “Public filing” means a filing that is
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Commercial Code - COM - COM § 9528
Commercial Code - COM - COM § 9528
Upon the request of any person, the Secretary of State shall issue a combined certificate showing the information as to financing statements as specified in Section 9523, the information as to state tax liens as specified in Section 7226 of the Government Code, the information as
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Commercial Code - COM - COM § 9601
Commercial Code - COM - COM § 9601
(a) After default, a secured party has the rights provided in this chapter and, except as otherwise provided in Section 9602, those rights provided by agreement of the parties. A secured party may do both of the following: (1) Reduce a claim to judgment, foreclose, or otherwise e
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Commercial Code - COM - COM § 9602
Commercial Code - COM - COM § 9602
Except as otherwise provided in Section 9624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (1) Subparagraph (C) of paragraph (4) of s
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Commercial Code - COM - COM § 9603
Commercial Code - COM - COM § 9603
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Section 9602 if the standards are not manifestly unreasonable. (b) Subdivision (a) does not apply to th
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Commercial Code - COM - COM § 9604
Commercial Code - COM - COM § 9604
(a) If an obligation secured by a security interest in personal property or fixtures is also secured by an interest in real property or an estate therein: (1) The secured party may do any of the following: (A) Proceed, in any sequence, (i) in accordance with the secured party’s r
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Commercial Code - COM - COM § 9605
Commercial Code - COM - COM § 9605
(a) Except as provided in subdivision (b), a secured party does not owe a duty based on its status as secured party to either of the following persons: (1) To a person that is a debtor or obligor, unless the secured party knows all of the following: (A) That the person is a debto
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Commercial Code - COM - COM § 9606
Commercial Code - COM - COM § 9606
For purposes of this chapter, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
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Commercial Code - COM - COM § 9607
Commercial Code - COM - COM § 9607
(a) If so agreed, and in any event after default, a secured party may do all of the following: (1) Notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party. (2) Take any proceeds to
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Commercial Code - COM - COM § 9608
Commercial Code - COM - COM § 9608
(a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under Section 9607 in the following order to: (A)
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Commercial Code - COM - COM § 9609
Commercial Code - COM - COM § 9609
(a) After default, a secured party may do both of the following: (1) Take possession of the collateral. (2) Without removal, render equipment unusable and dispose of collateral on a debtor’s premises under Section 9610. (b) A secured party may proceed under subdivision (a) in eit
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Commercial Code - COM - COM § 9610
Commercial Code - COM - COM § 9610
(a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (b) Every aspect of a disposition of collateral, including the method, ma
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Commercial Code - COM - COM § 9611
Commercial Code - COM - COM § 9611
(a) In this section, “notification date” means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor a signed notification of disposition. (2) The debtor and any secondary obligor waive the right to notification. (b) Except as otherwi
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Commercial Code - COM - COM § 9612
Commercial Code - COM - COM § 9612
(a) Except as otherwise provided in subdivision (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a transaction other than a consumer transaction, a notification of disposition sent after default and 10 days or more before the earliest tim
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Commercial Code - COM - COM § 9613
Commercial Code - COM - COM § 9613
(a) Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification does all of the following: (A) It describes the debtor and the secured party. (B) It describes the collateral that is the su
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Commercial Code - COM - COM § 9614
Commercial Code - COM - COM § 9614
(a) In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide all of the following information: (A) The information specified in paragraph (1) of subdivision (a) of Section 9613. (B) A description of any liability for a deficiency
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Commercial Code - COM - COM § 9615
Commercial Code - COM - COM § 9615
(a) A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9610 in the following order to each of the following: (1) The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the ext
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Commercial Code - COM - COM § 9616
Commercial Code - COM - COM § 9616
(a) In this section: (1) “Explanation” means a record that contains all of the following: (A) States the amount of the surplus or deficiency. (B) Provides an explanation in accordance with subdivision (c) of how the secured party calculated the surplus or deficiency. (C) States,
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Commercial Code - COM - COM § 9617
Commercial Code - COM - COM § 9617
(a) A secured party’s disposition of collateral after default does all of the following: (1) Transfers to a transferee for value all of the debtor’s rights in the collateral. (2) Discharges the security interest under which the disposition is made. (3) Discharges any subordinate
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Commercial Code - COM - COM § 9618
Commercial Code - COM - COM § 9618
(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after any of the following occurs: (1) The secondary obligor receives an assignment of a secured obligation from the secured party. (2) The secondary obligor receives a tr
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Commercial Code - COM - COM § 9619
Commercial Code - COM - COM § 9619
(a) In this section, “transfer statement” means a record signed by a secured party stating all of the following: (1) That the debtor has defaulted in connection with an obligation secured by specified collateral. (2) That the secured party has exercised its postdefault remedies w
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Commercial Code - COM - COM § 9620
Commercial Code - COM - COM § 9620
(a) Except as otherwise provided in subdivision (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if all of the following conditions are satisfied: (1) The debtor consents to the acceptance under subdivision (c). (2) The
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Commercial Code - COM - COM § 9621
Commercial Code - COM - COM § 9621
(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to all of the following persons: (1) Any person from which the secured party has received, before the debtor consented to the acceptance, a s
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Commercial Code - COM - COM § 9622
Commercial Code - COM - COM § 9622
(a) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures does all of the following: (1) It discharges the obligation to the extent consented to by the debtor. (2) It transfers to the secured party all of a debtor’s rights in the