reglab/housing_qa huggingface dataset:
810 ILCS 5/9-607
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-607. Collection and enforcement by secured party.(a) Collection and enforcement generally.  If so agreed, and in  any event after default, a secured party:(1) may 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) may take any proceeds to which the secured party     is entitled under Section 9-315;(3) may enforce the obligations of an account debtor     or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral;(4) if it holds a security interest in a deposit     account perfected by control under Section 9-104(a)(1), may apply the balance of the deposit account to the obligation secured by the deposit account; and(5) if it holds a security interest in a deposit     account perfected by control under Section 9-104(a)(2) or (3), may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party.(b) Nonjudicial enforcement of mortgage.  If necessary to enable  a secured party to exercise under subsection (a)(3) the right of a debtor to enforce a  mortgage nonjudicially, the secured party may record in the office in which a  record of the mortgage is recorded:(1) a copy of the security agreement that creates or     provides for a security interest in the obligation secured by the mortgage; and(2) the secured party's sworn affidavit in recordable     form stating that:(A) a default has occurred with respect to the         obligation secured by the mortgage; and(B) the secured party is entitled to enforce the         mortgage nonjudicially.(c) Commercially reasonable collection and enforcement.  A  secured party shall proceed in a commercially reasonable manner if the secured  party:(1) undertakes to collect from or enforce an     obligation of an account debtor or other person obligated on collateral; and(2) is entitled to charge back uncollected collateral     or otherwise to full or limited recourse against the debtor or a secondary obligor.(d) Expenses of collection and enforcement.  A secured party may  deduct from the collections made pursuant to subsection (c) reasonable expenses of  collection and enforcement, including reasonable attorney's fees and legal  expenses  incurred by the secured party.(e) Duties to secured party not affected.  This Section does not  determine whether an account debtor, bank, or other person obligated on  collateral  owes a duty to a secured party.  (Source: P.A. 97-1034, eff. 7-1-13.)
810 ILCS 5/9-608
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-608.         Application of proceeds of collection or enforcement;  liability for deficiency and right to surplus.(a) Application of proceeds, surplus, and deficiency if obligation  secured.  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 9-607 in the following order to:(A) the reasonable expenses of collection and         enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party;(B) the satisfaction of obligations secured by         the security interest or agricultural lien under which the collection or enforcement is made; and(C) the satisfaction of obligations secured by         any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives an authenticated demand for proceeds before distribution of the proceeds is completed.(2) If requested by a secured party, a holder of a     subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time.  Unless the holder complies, the secured party need not comply with the holder's demand under paragraph (1)(C).(3) A secured party need not apply or pay over for     application noncash proceeds of collection and enforcement under Section 9-607 unless the failure to do so would be commercially unreasonable.  A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.(4) A secured party shall account to and pay a debtor     for any surplus, and the obligor is liable for any deficiency.(b) No surplus or deficiency in sales of certain rights to  payment.  If the underlying transaction is a sale of accounts, chattel paper,  payment intangibles, or promissory notes, the debtor is not entitled to any  surplus,  and the obligor is not liable for any deficiency.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-609
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-609.     Secured 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 9-610.(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.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-610
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-610. Disposition 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.(g)  The provisions of this Section are subject to Section 26.5 of the Retail Installment Sales Act. (Source: P.A. 97-913, eff. 1-1-13.)
810 ILCS 5/9-611
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-611.     Notification 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  9-610 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 9-311(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.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-612
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-612.     Timeliness 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.  The limitation of the  rule in subsection (b) to transactions other than consumer-goods transactions  is intended to leave to the court the determination of the proper rules in  consumer-goods transactions.  The court may not infer from that limitation the  nature of the proper rule in consumer-goods transactions and may continue to  apply established approaches.(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.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-613
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-613.         Contents 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 is accompanied by or combined other notification or 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 9-614(4), when completed, each provides sufficient information:    NOTIFICATION OF DISPOSITION OF COLLATERALTo: ..................................... (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 sometime 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).   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-617
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-617.     Rights 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.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-618
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-618.     Rights 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     9-610; and(2) relieves the secured party of further duties     under this Article.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-619
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-619.     Transfer 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.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-621
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-621.     Notification 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 9-311(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).    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-622
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-622.     Effect 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.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-623
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-623.     Right 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 9-615(a)(1).(c) When redemption may occur.  A redemption may occur at any  time before a secured party:(1) has collected collateral under Section 9-607;(2) has disposed of collateral or entered into a     contract for its disposition under Section 9-610; or(3) has accepted collateral in full or partial     satisfaction of the obligation it secures under Section 9-622.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-624
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-624.     Waiver.(a) Waiver of disposition notification.  A debtor or secondary  obligor may waive the right to notification of disposition of collateral under  Section  9-611 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 9-620(e) only by an  agreement to that effect entered into and authenticated after default.(c) Waiver of redemption right.  A debtor or secondary obligor may waive the right to redeem  collateral  under Section 9-623 only by an agreement to that effect entered into and  authenticated after default.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art 9, P6, Sub 2 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 SUBPART 2.      NONCOMPLIANCE WITH ARTICLE