GA Code § 11-9-627 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 6 - Default|§ 11-9-627. Determination of Whether Conduct Was Commercially Reasonable

  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.   Dispositions that are commercially reasonable. A disposition of collateral is made in a commercially reasonable manner if the disposition is made:   In the usual manner on any recognized market;   At the price current in any recognized market at the time of the disposition; or   Otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.     Approval by court or on behalf of creditors. A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:   In a judicial proceeding;   By a bona fide creditors' committee;   By a representative of creditors; or   By an assignee for the benefit of creditors.     Approval under subsection (c) of this Code section not necessary; absence of approval has no effect. Approval under subsection (c) of this Code section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.     (Code 1981, §11-9-627, enacted by Ga. L. 2001, p. 362, § 1.)   Law reviews.   - For article, "The Revisions to Article IX of the Uniform Commercial Code," see 15 Ga. St. B.J. 120 (1977). For article surveying developments in Georgia commercial law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 33 (1981). For article, "Nonjudicial Foreclosures in Georgia: Fresh Doubts, Issues and Strategies," see 23 Ga. St. B.J. 123 (1987). For annual survey of commercial law, see 43 Mercer L. Rev. 119 (1991). For note discussing repossession and foreclosure as creditor's remedies under the Uniform Commercial Code, see 3 Ga. L. Rev. 198 (1968). For comment on a secured party's burden of proof in seeking a deficiency judgment after resale of collateral, see 33 Mercer L. Rev. 397 (1981).   JUDICIAL DECISIONS   ANALYSIS    Right to Deficiency Judgment   Commercial Reasonableness of Disposition   Waiver   Summary Judgment   Burden of Proof   Jury/Court Determinations    RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 556-572, 606, 624 et seq., 642-680, 685-703.   C.J.S.   - 72 C.J.S., Pledges, §§ 49, 50.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-627.   ALR.    - Seller's rights in respect of the property, or its proceeds, upon dishonor of draft or check for purchase price, on a cash sale, 31 A.L.R. 578; 54 A.L.R. 526.    Rights and remedies as between parties to conditional sale after seller has repossessed himself of the property, 99 A.L.R. 1288.    Right of creditor or mortgagee to redeem from his own sale, 108 A.L.R. 993.   Purchase by pledgee of subject of pledge, 37 A.L.R.2d 1381.   Rights and duties of parties to conditional sales contract as to resale of repossessed property, 49 A.L.R.2d 15.   Uniform Commercial Code: Burden of proof as to commercially reasonable disposition of collateral, 59 A.L.R.3d 369.   Uniform Commercial Code: failure of secured creditor to give required notice of disposition of collateral as bar to deficiency judgment, 59 A.L.R.3d 401.   Construction of term "debtor" as used in UCC § 9-504(3), requiring secured party to give notice to debtor of sale of collateral securing obligation, 5 A.L.R.4th 1291.   What is "commercially reasonable" disposition of collateral required by UCC § 9-504(3), 7 A.L.R.4th 308.   Loss or modification of right to notification of sale of repossessed collateral under Uniform Commercial Code § 9-504, 9 A.L.R.4th 552.   Failure of secured party to make "commercially reasonable" disposition of collateral under UCC § 9-504(3) as bar to deficiency judgment, 10 A.L.R.4th 413.   Sufficiency of secured party's notification of sale or other intended disposition of collateral under UCC § 9-504(3), 11 A.L.R.4th 241.   Nature of collateral which secured party may sell or otherwise dispose of without giving notice to defaulting debtor under UCC § 9-504(3), 11 A.L.R.4th 1060.   Secured transactions: what is "public" or "private" sale under UCC § 9-504(3), 60 A.L.R.4th 1012.   UCC: value of trade-in taken on sale of collateral for purposes of computing surplus or deficiency, 72 A.L.R.4th 1128.   Causes of action governed by limitations period in UCC § 2-725, 49 A.L.R.5th 1.