reglab/housing_qa huggingface dataset:
SC Code § 36-9-607 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-607. Collection and enforcement by secured party.

 (a) 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 36-9-315;  (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 36-9-104(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 36-9-104(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) 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) 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) 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) This section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party.  HISTORY: 1988 Act No. 494, Section 5; 2001 Act No. 67, Section 12; 2013 Act No. 96, Section 18, eff July 1, 2013.  Effect of Amendment  The 2013 amendment, in subsection (b)(2)(A), inserted "with respect to the obligation secured by the mortgage".
SC Code § 36-9-608 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.

 (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 36-9-607 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 item (1)(C).  (3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under Section 36-9-607 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) 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.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-609 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-609. Secured party ' s right to take possession after default.

 (a) 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 36-9-610.  (b) 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) 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.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-610 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-610. Disposition of collateral after default.

 (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, 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) 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) 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) 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) 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.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-611 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-611. Notification before disposition of collateral.

 (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 an authenticated notification of disposition; or  (2) the debtor and any secondary obligor waive the right to notification.  (b) Except as otherwise provided in subsection (d), a secured party that disposes of collateral under Section 36-9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.  (c) 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, ten 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, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 36-9-311(a).  (d) 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) A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if:  (1) not later than twenty days or earlier than thirty 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.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-612 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-612. Timeliness of notification before disposition of collateral.

 (a) Except as otherwise provided in subsection (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 ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-613 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-613. 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 item (1) are nevertheless sufficient is a question of fact.  (3) The contents of a notification providing substantially the information specified in item (1) are sufficient, even if the notification includes:  (A) information not specified by that item; 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 36-9-614(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:  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]'.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-617 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-617. Rights of transferee of collateral.

 (a) 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) 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 chapter or the requirements of any judicial proceeding.  (c) 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.  HISTORY: 2001 Act No. 67, Section 12.  Code Commissioner's Note  In 2014, at the direction of the Code Commissioner, in subsection (a)(3), deleted "[other than liens created under [cite acts or statutes providing for liens, if any, that are not to be discharged]]" to correct an error.
SC Code § 36-9-618 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-618. Rights and duties of certain secondary obligors.

 (a) 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) An assignment, transfer, or subrogation described in subsection (a):  (1) is not a disposition of collateral under Section 36-9-610; and  (2) relieves the secured party of further duties under this chapter.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-619 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-619. Transfer of record or legal title.

 (a) 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) 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) 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 chapter and does not of itself relieve the secured party of its duties under this chapter.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-621 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-621. Notification of proposal to accept collateral.

 (a) 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, ten 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, ten 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 36-9-311(a).  (b) 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).  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-622 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-622. Effect of acceptance of collateral.

 (a) 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) A subordinate interest is discharged or terminated under subsection (a), even if the secured party fails to comply with this chapter.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-623 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-623. Right to redeem collateral.

 (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.  (b) 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 36-9-615(a)(1).  (c) A redemption may occur at any time before a secured party:  (1) has collected collateral under Section 36-9-607;  (2) has disposed of collateral or entered into a contract for its disposition under Section 36-9-610; or  (3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 36-9-622.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-624 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-624. Waiver.

 (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 36-9-611 only by an agreement to that effect entered into and authenticated after default.  (b) A debtor may waive the right to require disposition of collateral under Section 36-9-620(e) only by an agreement to that effect entered into and authenticated after default.  (c) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under Section 36-9-623 only by an agreement to that effect entered into and authenticated after default.  HISTORY: 2001 Act No. 67, Section 12.  Subpart 2  Noncompliance with Chapter
SC Code § 36-9-626 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-626. Action in which deficiency or surplus is in issue.

 (a) 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 36-9-628, 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 item (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 36-9-615(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) 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.  HISTORY: 2001 Act No. 67, Section 12.