reglab/housing_qa huggingface dataset:
6 DE Code § 9-626. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 6. Default|§ 9-626. Action in which deficiency or surplus is in issue.

§ 9-626. Action 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 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 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 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) 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. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-627. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 6. Default|§ 9-627. Determination of whether conduct was commercially reasonable.

§ 9-627. Determination 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. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-628. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 6. Default|§ 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.

§ 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. (a) Limitation of liability of secured party for noncompliance with Article. — 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 Article; and (2) the secured party's failure to comply with this Article does not affect the liability of the person for a deficiency. (b) Limitation of liability based on status as a secured party. — 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) Limitation of liability if reasonable belief that transaction not a consumer-goods transaction or consumer transaction. — 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) Limitation of liability for statutory damages. — A secured party is not liable to any person under Section 9-625(c)(2) for its failure to comply with Section 9-616. (e) Limitation of multiple liability for statutory damages. — A secured party is not liable under Section 9-625(c)(2) more than once with respect to any one secured obligation. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-701. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-701. Effective date.

§ 9-701. Effective date. This Act takes effect on July 1, 2001. References in this part to “this Act” refer to the legislative enactment by which this part is added to Article 9 of the Uniform Commercial Code. References in this part to “former Article 9” are to Article 9 of the Uniform Commercial Code as in effect immediately before this Act takes effect. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-702. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-702. Savings clause.

§ 9-702. Savings clause. (a) Pre-effective-date transactions or liens. — 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) Continuing validity. — Except as otherwise provided in subsection (c) and Sections 9-703 through 9-709:  (1) transactions and liens that were not governed by former Article 9 of the Uniform Commercial Code, 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) Pre-effective-date proceedings. — This Act does not affect an action, case, or proceeding commenced before this Act takes effect. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-703. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-703. Security interest perfected before effective date.

§ 9-703. Security interest perfected before effective date. (a) Continuing priority over lien creditor: perfection requirements satisfied. — 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) Continuing priority over lien creditor: perfection requirements not satisfied. — Except as otherwise provided in Section 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 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. (c) Special transition provision regarding trusts and trustees. — If, immediately before this Act takes effect, a security interest against a debtor that is a trust or trustee is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but, pursuant to Section 9-503(a)(3) (dealing with the sufficiency of the name of the debtor in the case of trusts and trustees), the financing statement filed in this State prior to the date this Act takes effect naming the trust or trustee as the debtor would be ineffective under this Act solely because it does not sufficiently provide the name of the debtor, the financing statement remains effective to the same extent as under former Article 9 of the Uniform Commercial Code (and shall remain effective by filing continuation statements naming the debtor as in the financing statement to be continued) if (i) the trust is a trust created under the provisions of Chapter 38 of Title 12 (the Delaware Statutory Trust Act), (ii) the trust is a common law business trust, or (iii) a trustee of the trust is a corporation authorized under the laws of this State to exercise corporate trust powers. 72 Del. Laws, c. 401, §  1;  73 Del. Laws, c. 329, §  7;
6 DE Code § 9-704. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-704. Security interest unperfected before effective date.

§ 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 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.72 Del. Laws, c. 401, §  1;
6 DE Code § 9-706. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-706. When initial financing statement suffices to continue effectiveness of financing statement.

§ 9-706. When initial financing statement suffices to continue effectiveness of financing statement. (a) Initial financing statement in lieu of continuation statement. — The filing of an initial financing statement in the office specified in Section 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) Period of continued effectiveness. — 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 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 9-515 with respect to an initial financing statement. (c) Requirements for initial financing statement under subsection (a). — 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 pre-effective-date financing statement was filed and providing the dates of filing and file numbers, if any, of the initial pre-effective-date financing statement and of the most recent continuation statement filed with respect to that financing statement; provided, that if the law of the jurisdiction governing perfection prior to the effective date of this act [June 28, 2005] required the filing of the pre-effective-date financing statement in both a central filing office and a local filing office, then an identification of the filing in the central filing office suffices for purposes of this subsection (c)(2) of this section; and (3) indicate that the pre-effective-date financing statement remains effective.72 Del. Laws, c. 401, §  1;  75 Del. Laws, c. 66, §  4;
6 DE Code § 9-707. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-707. Amendment of pre-effective-date financing statement.

§ 9-707. Amendment of pre-effective-date financing statement. (a) Pre-effective-date financing statement. — In this section, “pre-effective-date financing statement” means a financing statement filed before this Act takes effect. (b) Applicable law. — After this Act 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) Method of amending: general rule. — 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 Act takes effect only if:  (1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 9-501; (2) an amendment is filed in the office specified in Section 9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Section 9-706(c); or (3) an initial financing statement that provides the information as amended and satisfies Section 9-706(c) is filed in the office specified in Section 9-501. (d) Method of amending: continuation. — If the law of this State governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under Section 9-705(d) and (f) or 9-706. (e) Method of amending: additional termination rule. — 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 Act 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 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. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-708. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-708. Persons entitled to file initial financing statement or continuation statement.

§ 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.72 Del. Laws, c. 401, §  1;
6 DE Code § 9-709. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 7. Transition|§ 9-709. Priority.

§ 9-709. Priority. (a) Law governing priority. — 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 Article 9 of the Uniform Commercial Code determines priority. (b) Priority if security interest becomes enforceable under Section 9-203. — For purposes of Section 9-322(a), the priority of a security interest that becomes enforceable under Section 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 Article 9 of the Uniform Commercial Code. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement. 72 Del. Laws, c. 401, §  1;
6 DE Code § 9-801. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 8. Transition for 2010 Amendments|§ 9-801. Effective date.

§ 9-801. Effective date. This Act takes effect on July 1, 2013. References in this part to “this Act” refer to the legislative enactment by which this part is added to Article 9 of the Uniform Commercial Code. References in this part to “former Article 9” are to Article 9 of the Uniform Commercial Code as in effect immediately before this Act takes effect. 79 Del. Laws, c. 15, §  28;
6 DE Code § 9-802. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 8. Transition for 2010 Amendments|§ 9-802. Savings clause.

§ 9-802. Savings clause. (a) Pre-effective-date transactions or liens. — 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) Pre-effective-date proceedings. — This Act does not affect an action, case, or proceeding commenced before this Act takes effect. 79 Del. Laws, c. 15, §  28;
6 DE Code § 9-803. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 8. Transition for 2010 Amendments|§ 9-803. Security interest perfected before effective date.

§ 9-803. Security interest perfected before effective date. (a) Continuing perfection: perfection requirements satisfied. — A security interest that is a perfected security interest immediately before this Act takes effect is a perfected security interest under Article 9 as amended by this Act if, when this Act takes effect, the applicable requirements for attachment and perfection under Article 9 as amended by this Act are satisfied without further action. (b) Continuing perfection: perfection requirements not satisfied. — Except as otherwise provided in Section 9-805, if, immediately before this Act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under Article 9 as amended by this Act are not satisfied when this Act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under Article 9 as amended by this Act are satisfied within one year after this Act takes effect. (c) Special transition provision regarding trusts and trustees. — If, immediately before this Act takes effect, a security interest against a debtor that is a trust or trustee is enforceable and would have priority over the rights of a person that becomes a lien creditor at that time, but, pursuant to Section 9-503(a)(3) (dealing with the sufficiency of the name of the debtor if the collateral is held in a trust), the financing statement filed in this State prior to the date this Act takes effect naming the trust or trustee as the debtor would be ineffective under this Act solely because it does not sufficiently provide the name of the debtor, the financing statement remains effective to the same extent as under former Article 9 of the Uniform Commercial Code (and shall remain effective by filing continuation statements naming the debtor as in the financing statement to be continued) if (i) the trust is a trust created under the provisions of Chapter 38 of Title 12 (the Delaware Statutory Trust Act), (ii) the trust is a common law business trust, or (iii) a trustee of the trust is an organization authorized under the laws of this State to exercise corporate trust powers. 79 Del. Laws, c. 15, §  28;
6 DE Code § 9-804. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 9. Secured Transactions|Part 8. Transition for 2010 Amendments|§ 9-804. Security interest unperfected before effective date.

§ 9-804. Security interest unperfected before effective date. A security interest that is an unperfected security interest immediately before this Act takes effect becomes a perfected security interest:  (1) without further action, when this Act takes effect if the applicable requirements for perfection under Article 9 as amended by this Act are satisfied before or at that time; or (2) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.79 Del. Laws, c. 15, §  28;