reglab/housing_qa huggingface dataset:
AL Code § 7-9A-609 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-609 - Secured Party's Right to Take Possession After Default.

Section 7-9A-609Secured party's right to take possession after default. (a) Possession; rendering equipment unusable; disposition on debtor's premises. After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on a debtor's premises under Section 7-9A-610. (b) Judicial and nonjudicial process. A secured party may proceed under subsection (a): (1) pursuant to judicial process; or (2) without judicial process, if it proceeds without breach of the peace. (c) Assembly of collateral. If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-610 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-610 - Disposition of Collateral After Default.

Section 7-9A-610Disposition of collateral after default. (a) Disposition after default. 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) Commercially reasonable disposition. Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms. (c) Purchase by secured party. A secured party may purchase collateral: (1) at a public disposition; or (2) at a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations. (d) Warranties on disposition. A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract. (e) Disclaimer of warranties. A secured party may disclaim or modify warranties under subsection (d): (1) in a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or (2) by communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties. (f) Record sufficient to disclaim warranties. A record is sufficient to disclaim warranties under subsection (e) if it indicates "There is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition" or uses words of similar import. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-611 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-611 - Notification Before Disposition of Collateral.

Section 7-9A-611Notification before disposition of collateral.  (a) "Notification date." 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 an authenticated notification of disposition; or (2) the debtor and any secondary obligor waive the right to notification. (b) Notification of disposition required. Except as otherwise provided in subsection (d), a secured party that disposes of collateral under Section 7-9A-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition. (c) Persons to be notified. To comply with subsection (b), the secured party shall send an authenticated notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the collateral is other than consumer goods: (A) any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral; (B) any other secured party or lienholder that, 10 days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) identified the collateral; (ii) was indexed under the debtor's name as of that date; and (iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) any other secured party that, 10 days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 7-9A-311(a). (d) Subsection (b) inapplicable: Perishable collateral; recognized market. Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. (e) Compliance with subsection (c)(3)(B). A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if: (1) not later than 20 days or earlier than 30 days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and (2) before the notification date, the secured party: (A) did not receive a response to the request for information; or (B) received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-612 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-612 - Timeliness of Notification Before Disposition of Collateral.

Section 7-9A-612Timeliness of notification before disposition of collateral. (a) Reasonable time is question of fact. Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact. (b) 10-day period sufficient in non-consumer transaction. In a transaction other than a consumer transaction, a notification of disposition sent after default and 10 days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-613 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-613 - Contents and Form of Notification Before Disposition of Collateral: General.

Section 7-9A-613Contents and form of notification before disposition of collateral: General.  Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: (A) describes the debtor and the secured party; (B) describes the collateral that is the subject of the intended disposition; (C) states the method of intended disposition; (D) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and (E) states the time and place of a public disposition or the time after which any other disposition is to be made. (2) Whether the contents of a notification that lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact. (3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes: (A) information not specified by that paragraph; or (B) minor errors that are not seriously misleading. (4) A particular phrasing of the notification is not required. (5) The following form of notification and the form appearing in Section 7-9A-614(3), when completed, each provides sufficient information: NOTIFICATION OF DISPOSITION OF COLLATERAL To: _______________ (Name of debtor, obligor, or other person to which the notification is sent) From: __________ (Name, address, and telephone number of secured party) Name of Debtor(s): _________ (Include only if debtor(s) are not an addressee) For a public disposition: We will sell or lease or license, as applicable, the ________ (describe collateral) to the highest qualified bidder in public as follows: Day and Date: Time: Place: For a private disposition: We will sell or lease or license, as applicable, the ________ (describe collateral) privately some time after ________ (day and date). You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell or lease or license, as applicable, for a charge of $____. You may request an accounting by calling us at _______ (telephone number).  [End of Form] (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-617 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-617 - Rights of Transferee of Collateral.

Section 7-9A-617Rights of transferee of collateral. (a) Effects of disposition. A secured party's disposition of collateral after default: (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; and (3) discharges any subordinate security interest or other subordinate lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this article or the requirements of any judicial proceeding. (c) Rights of other transferee. If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to: (1) the debtor's rights in the collateral; (2) the security interest or agricultural lien under which the disposition is made; and (3) any other security interest or other lien. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-618 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-618 - Rights and Duties of Certain Secondary Obligors.

Section 7-9A-618Rights and duties of certain secondary obligors.  (a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives an assignment of a secured obligation from the secured party; (2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) is subrogated to the rights of a secured party with respect to collateral. (b) Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in subsection (a): (1) is not a disposition of collateral under Section 7-9A-610; and (2) relieves the secured party of further duties under this article. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-619 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-619 - Transfer of Record or Legal Title.

Section 7-9A-619Transfer of record or legal title. (a) "Transfer statement." In this section, "transfer statement" means a record authenticated by a secured party stating: (1) that the debtor has defaulted in connection with an obligation secured by specified collateral; (2) that the secured party has exercised its post-default remedies with respect to the collateral; (3) that, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and (4) the name and mailing address of the secured party, debtor, and transferee. (b) Effect of transfer statement. A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall: (1) accept the transfer statement; (2) promptly amend its records to reflect the transfer; and (3) if applicable, issue a new appropriate certificate of title in the name of the transferee. (c) Transfer not a disposition; no relief of secured party's duties. A transfer of the record or legal title to collateral to a secured party under subsection (b) or otherwise is not of itself a disposition of collateral under this article and does not of itself relieve the secured party of its duties under this article. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-621 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-621 - Notification of Proposal to Accept Collateral.

Section 7-9A-621Notification of proposal to accept collateral.  (a) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; (2) any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (A) identified the collateral; (B) was indexed under the debtor's name as of that date; and (C) was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and (3) any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 7-9A-311(a). (b) Proposal to be sent to secondary obligor in partial satisfaction. A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a). (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-622 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-622 - Effect of Acceptance of Collateral.

Section 7-9A-622Effect of acceptance of collateral. (a) Effect of acceptance. A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) discharges the obligation to the extent consented to by the debtor; (2) transfers to the secured party all of a debtor's rights in the collateral; (3) discharges the security interest or agricultural lien that is the subject of the debtor's consent and any subordinate security interest or other subordinate lien; and (4) terminates any other subordinate interest. (b) Discharge of subordinate interest notwithstanding noncompliance. A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this article. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-623 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-623 - Right to Redeem Collateral.

Section 7-9A-623Right to redeem collateral. (a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) Requirements for redemption. To redeem collateral, a person shall tender: (1) fulfillment of all obligations secured by the collateral; and (2) the reasonable expenses and attorney's fees described in Section 7-9A-615(a)(1). (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under Section 7-9A-607; (2) has disposed of collateral or entered into a contract for its disposition under Section 7-9A-610; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 7-9A-622. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-624 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 1 - Default and Enforcement of Security Interest.|Section 7-9A-624 - Waiver.

Section 7-9A-624Waiver.  (a) Waiver of disposition notification. A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 7-9A-611 only by an agreement to that effect entered into and authenticated after default. (b) Waiver of mandatory disposition. A debtor may waive the right to require disposition of collateral under Section 7-9A-620(e) only by an agreement to that effect entered into and authenticated after default. (c) Waiver of redemption right. Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under Section 7-9A-623 only by an agreement to that effect entered into and authenticated after default. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-626 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 2 - Noncompliance With Article.|Section 7-9A-626 - Action in Which Deficiency or Surplus Is in Issue.

Section 7-9A-626Action in which deficiency or surplus is in issue. (a) Applicable rules if amount of deficiency or surplus in issue. 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 7-9A-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 7-9A-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) Non-consumer transactions; no inference. 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. (Act 2001-481, p. 647, §1.)
AL Code § 7-9A-627 (2021)
2021 Code of Alabama|Title 7 - Commercial Code.|Article 9A - Secured Transactions.|Part 6 - Default.|Division 2 - Noncompliance With Article.|Section 7-9A-627 - Determination of Whether Conduct Was Commercially Reasonable.

Section 7-9A-627Determination 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. (Act 2001-481, p. 647, §1.)