reglab/housing_qa huggingface dataset:
SC Code § 36-9-627 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-627. Determination of whether conduct was commercially reasonable.

 (a) 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) 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) 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) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-628 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.

 (a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:  (1) the secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and  (2) the secured party's failure to comply with this chapter does not affect the liability of the person for a deficiency.  (b) A secured party is not liable because of its status as secured party:  (1) to a person that is a debtor or obligor, unless the secured party knows:  (A) that the person is a debtor or obligor;  (B) the identity of the person; and  (C) how to communicate with the person; or  (2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:  (A) that the person is a debtor; and  (B) the identity of the person.  (c) A secured party is not liable to any person, and a person's liability for a deficiency is not affected, because of any act or omission arising out of the secured party's reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party's belief is based on its reasonable reliance on:  (1) a debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or  (2) an obligor's representation concerning the purpose for which a secured obligation was incurred.  (d) A secured party is not liable to any person under Section 36-9-625(c)(2) for its failure to comply with Section 36-9-616.  (e) A secured party is not liable under Section 36-9-625(c)(2) more than once with respect to any one secured obligation.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-629 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-629. Disposition of collateral by public sale.

 Disposition of collateral by public proceedings as permitted by Section 36-9-610 may be made in accordance with the provisions of this part. The provisions of this part are not mandatory for disposition by public proceedings, but any disposition of the collateral by public sale wherein the secured party has substantially complied with the procedures provided in this part is conclusively considered to be commercially reasonable in all aspects.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-630 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-630. Contents of notice of sale.

 The notice of sale shall substantially:  (a) Refer to the security agreement pursuant to which the sale is held;  (b) Designate the date, hour, and place of sale consistent with the provisions of the security agreement and the provisions found in this part;  (c) Describe personal property to be sold substantially as it is described in the security agreement pursuant to which the power of sale is being exercised and may add a further description as will acquaint bidders with the nature of the property;  (d) State the terms of the sale provided by the security agreement pursuant to which the sale is held, including the amount of the cash deposit, if any, to be made by the highest bidder at the sale;  (e) Include any other provisions required by the security agreement to be included therein;  (f) State that the property will be sold subject to taxes and special assessments if it is to be so sold.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-631 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-631. Posting and mailing notice of sale.

 (1) In each public sale conducted, the notice of sale must be posted on a bulletin board provided for the posting of legal notices, in the courthouse, in the county in which the sale is to be held, for at least five days immediately preceding the sale.  (2) In addition to the posting of notice required by subsection 91), the secured party or other party holding a public sale shall, at least five days before the date of sale, mail by registered or certified mail a copy of the notice of sale to each debtor obligated under the security agreement:  (a) At the actual address of the debtors, if known to the secured party, or  (b) At the address, if any, furnished the secured party, in writing, by the debtors, or otherwise at the last known address.  (c) In the case of consumer goods, no other notification need be sent. In other cases, in addition to mailing a copy of the notice of sale to each debtor, the secured party shall also mail a copy of such notice by registered or certified mail to any other secured party from whom the secured party has received (before sending the notice of sale to the debtor) written notice of a claim or an interest in the collateral.  (4) The time for the posting of the notice of sale and the mailing of the notice required by this section shall be computed so as to exclude the first day of posting and mailing and to include the day on which the sale is to occur.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-632 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-632. Exception as to perishable property.

 If in the opinion of a secured party about to conduct a public sale of personal property, the property is perishable because subject to rapid deterioration or threatens to decline speedily in value, he may report this fact, together with a description of the property to the clerk of court of the county in which the property is to be sold, and apply for authority to sell the property at an earlier date than is provided in this chapter. Upon the clerk's determination that the property is perishable or speedily depreciating property, he shall order a sale of the property to be held at a time and place and upon notice, if any, as he considers advisable.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-633 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-633. Postponement of public sale.

 (1) Any person exercising a power of sale or conducting a public sale may postpone the sale to a day certain not later than six days, exclusive of Sunday, after the original date for the sale:  (a) When there are no bidders; or  (b) When, in his judgment, the number of prospective bidders at the sale is substantially decreased by inclement weather or by any casualty; or  (c) When there are so many other sales advertised to be held at the same time and place as to make it inexpedient and impracticable in his judgment to hold the sale on that day; or  (d) When he is unable to hold the sale because of illness or for other good reason; or  (e) When other good cause exists.  (2) Upon postponement of a public sale, the person exercising the power of sale shall personally, or through his agent or attorney:  (a) At the time and place advertised for the sale, publicly announce the postponement of the sale;  (b) On the same day, attach to or enter on the original notice of sale or a copy of the original notice of sale, posted on the bulletin board provided for this purpose, as provided by Section 36-9-631 , a notice of the postponement.  (3) The posted notice of postponement shall:  (a) State that the public sale is postponed;  (b) State the hour and date to which the public sale is postponed;  (c) Substantially state the reason for the postponement;  (d) Be signed by the person authorized to hold the public sale, or by his agent or attorney.  (4) If a public sale is not held at the time fixed for the public sale and is not postponed as provided by this section, or if a postponed sale is not held at the time fixed for the postponed sale, the person authorized to hold the public sale may readvertise the property in the same manner as he was required to advertise the sale which was not held and may hold a public sale at a later date as is fixed in the new notice of sale.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-634 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-634. Procedure upon dissolution of order restraining or enjoining sale.

 (1) When, before the date fixed for a sale, a judge of competent jurisdiction dissolves an order restraining or enjoining the sale, he may, if the required notice of sale has been given, as provided in Section 36-9-631, provide by order that the public sale must be held without additional notice at the time and place originally fixed for the public sale; or he may, in his discretion, make an order with respect to the public sale as provided in subsection (2).  (2) When, after the date fixed for a public sale, a judge of competent jurisdiction dissolves an order restraining or enjoining the sale, he shall, by order, fix the time and place for the sale to be held upon notice to be given and in a manner and for a length of time as he considers advisable.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-635 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-635. Disposition of proceeds of sale.

 The proceeds of any sale or other disposition of the collateral must be applied by the person making the sale in the manner prescribed by Section 36-9-615 and by other applicable provisions of law.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-702 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-702. Savings clause.

 (a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this act takes effect.  (b) Except as otherwise provided in subsection (c) and Sections 36-9-703 through 36-9-709:  (1) transactions and liens that were not governed by former Chapter 9, were validly entered into or created before this act takes effect, and would be subject to this act if they had been entered into or created after this act takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this act takes effect; and  (2) the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this act or by the law that otherwise would apply if this act had not taken effect.  (c) This act does not affect an action, case, or proceeding commenced before this act takes effect.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-703 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-703. Security interest perfected before effective date.

 (a) A security interest that is enforceable immediately before this act takes effect and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under this act if, when this act takes effect, the applicable requirements for enforceability and perfection under this act are satisfied without further action.  (b) Except as otherwise provided in Section 36-9-705, if, immediately before this act takes effect, a security interest is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but the applicable requirements for enforceability or perfection under this act are not satisfied when this act takes effect, the security interest:  (1) is a perfected security interest for one year after this act takes effect;  (2) remains enforceable thereafter only if the security interest becomes enforceable under Section 36-9-203 before the year expires; and  (3) remains perfected thereafter only if the applicable requirements for perfection under this act are satisfied before the year expires.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-704 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-704. Security interest unperfected before effective date.

 A security interest that is enforceable immediately before this act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:  (1) remains an enforceable security interest for one year after this act takes effect;  (2) remains enforceable thereafter if the security interest becomes enforceable under Section 36-9-203 when this act takes effect or within one year thereafter; and  (3) becomes perfected:  (A) without further action, when this act takes effect if the applicable requirements for perfection under this act are satisfied before or at that time; or  (B) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-705 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-705. Effectiveness of action taken before effective date.

 (a) If action, other than the filing of a financing statement, is taken before this act takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable before this act takes effect, the action is effective to perfect a security interest that attaches under this act within one year after this act takes effect. An attached security interest becomes unperfected one year after this act takes effect unless the security interest becomes a perfected security interest under this act before the expiration of that period.  (b) The filing of a financing statement before this act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this act.  (c) This act does not render ineffective an effective financing statement that, before this act takes effect, is filed and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former Section 36-9-103. However, except as otherwise provided in subsections (d) and (e) and Section 36-9-706, the financing statement ceases to be effective at the earlier of:  (1) the time the financing statement would have ceased to be effective under the law of the jurisdiction in which it is filed; or  (2) June 30, 2006.  (d) The filing of a continuation statement after this act takes effect does not continue the effectiveness of the financing statement filed before this act takes effect. However, upon the timely filing of a continuation statement after this act takes effect and in accordance with the law of the jurisdiction governing perfection as provided in Part 3, the effectiveness of a financing statement filed in the same office in that jurisdiction before this act takes effect continues for the period provided by the law of that jurisdiction.  (e) Subsection (c)(2) applies to a financing statement that, before this act takes effect, is filed against a transmitting utility and satisfies the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in former Section 36-9-103 only to the extent that Part 3 provides that the law of a jurisdiction other than the jurisdiction in which the financing statement is filed governs perfection of a security interest in collateral covered by the financing statement.  (f) A financing statement that includes a financing statement filed before this act takes effect and a continuation statement filed after this act takes effect is effective only to the extent that it satisfies the requirements of Part 5 for an initial financing statement.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-706 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-706. When initial financing statement suffices to continue effectiveness of financing statement.

 (a) The filing of an initial financing statement in the office specified in Section 36-9-501 continues the effectiveness of a financing statement filed before this act takes effect if:  (1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this act;  (2) the pre-effective-date financing statement was filed in an office in another state or another office in this State; and  (3) the initial financing statement satisfies subsection (c).  (b) The filing of an initial financing statement under subsection (a) continues the effectiveness of the pre-effective-date financing statement:  (1) if the initial financing statement is filed before this act takes effect, for the period provided in former Section 36-9-403 with respect to a financing statement; and  (2) if the initial financing statement is filed after this act takes effect, for the period provided in Section 36-9-515 with respect to an initial financing statement.  (c) To be effective for purposes of subsection (a), an initial financing statement must:  (1) satisfy the requirements of Part 5 for an initial financing statement;  (2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and  (3) indicate that the pre-effective-date financing statement remains effective.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-707 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-707. Pre-effective-date financing statement.

 (a) In this section, "pre-effective-date financing statement" means a financing statement filed before this chapter takes effect.  (b) After this chapter takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.  (c) Except as otherwise provided in subsection (d), if the law of this State governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this chapter takes effect only if:  (1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 36-9-501;  (2) an amendment is filed in the office specified in Section 36-9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Section 36-9-706(c); or  (3) an initial financing statement that provides the information as amended and satisfies Section 36-9-706(c) is filed in the office specified in Section 36-9-501.  (d) If the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continue only under Section 36-9-705(d) and (f) or 36-9-706.  (e) Whether or not the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this State may be terminated after this chapter takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies Section 36-9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.  Section 36-9-707  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-708 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-708. Persons entitled to file initial financing statement or continuation statement.

 A person may file an initial financing statement or a continuation statement under this part if:  (1) the secured party of record authorizes the filing; and  (2) the filing is necessary under this part:  (A) to continue the effectiveness of a financing statement filed before this act takes effect; or  (B) to perfect or continue the perfection of a security interest.  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-709 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-709. Priority.

 (a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former Chapter 9 determines priority.  (b) For purposes of Section 36-9-322(a), the priority of a security interest that becomes enforceable under Section 36-9-203 of this act dates from the time this act takes effect if the security interest is perfected under this act by the filing of a financing statement before this act takes effect which would not have been effective to perfect the security interest under former Chapter 9. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement."  HISTORY: 2001 Act No. 67, Section 12.
SC Code § 36-9-802 (2021)
2021 South Carolina Code of Laws|Title 36 - Commercial Code|Chapter 9 - Commercial Code - Secured Transactions|Section 36-9-802. Application and effect.

 (a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this act takes effect.  (b) This act does not affect an action, case, or proceeding commenced before this act takes effect.  HISTORY: 2013 Act No. 96, Section 19, eff July 1, 2013.