reglab/housing_qa huggingface dataset:
IN Code § 26-1-9.1-619 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-619. Transfer of Record or Legal Title

Sec. 619. (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 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 IC 26-1-9.1 and does not of itself relieve the secured party of its duties under IC 26-1-9.1.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-621 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-621. Notification of Proposal to Accept Collateral

Sec. 621. (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 (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, ten (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 IC 26-1-9.1-311(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).As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-622 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-622. Effect of Acceptance of Collateral

Sec. 622. (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 IC 26-1-9.1.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-623 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-623. Right to Redeem Collateral

Sec. 623. (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 IC 26-1-9.1-615(a)(1).(c) A redemption may occur at any time before a secured party:(1) has collected collateral under IC 26-1-9.1-607;(2) has disposed of collateral or entered into a contract for its disposition under IC 26-1-9.1-610; or(3) has accepted collateral in full or partial satisfaction of the obligation it secures under IC 26-1-9.1-622.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-624 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-624. Waiver

Sec. 624. (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under IC 26-1-9.1-611 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 IC 26-1-9.1-620(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 IC 26-1-9.1-623 only by an agreement to that effect entered into and authenticated after default.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-626 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-626. Action in Which Deficiency or Surplus Is in Issue

Sec. 626. In an action arising from a 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 IC 26-1-9.1-601 through IC 26-1-9.1-628 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 IC 26-1-9.1-601 through IC 26-1-9.1-628.(3) Except as otherwise provided in IC 26-1-9.1-628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of IC 26-1-9.1-601 through IC 26-1-9.1-628 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 IC 26-1-9.1-601 through IC 26-1-9.1-628 relating to collection, enforcement, disposition, or acceptance.(4) For purposes of subdivision (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 IC 26-1-9.1-615(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.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.19.
IN Code § 26-1-9.1-627 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-627. Determination of Whether Conduct Was Commercially Reasonable

Sec. 627. (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.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-628 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-628. Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor

Sec. 628. (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 IC 26-1-9.1; and(2) the secured party's failure to comply with IC 26-1-9.1 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 IC 26-1-9.1-625(c)(2) for its failure to comply with IC 26-1-9.1-616.(e) A secured party is not liable under IC 26-1-9.1-625(c)(2) more than once with respect to any one secured obligation.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-701 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-701. Effective Date

Sec. 701. IC 26-1-9.1 takes effect on July 1, 2001.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-702 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-702. Savings Clause

Sec. 702. (a) Except as otherwise provided in this section through section 709 of this chapter, IC 26-1-9.1 applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before IC 26-1-9.1 takes effect.(b) Except as otherwise provided in subsection (c) and IC 26-1-9.1-703 through IC 26-1-9.1-709:(1) transactions and liens that were not governed by IC 26-1-9, before its repeal, were validly entered into or created before IC 26-1-9.1 takes effect, and would be subject to IC 26-1-9.1 if they had been entered into or created after IC 26-1-9.1 takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after IC 26-1-9.1 takes effect; and(2) the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by IC 26-1-9.1 or by the law that otherwise would apply if IC 26-1-9.1 had not taken effect.(c) IC 26-1-9.1 does not affect an action, case, or proceeding commenced before IC 26-1-9.1 takes effect.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-703 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-703. Security Interest Perfected Before Effective Date

Sec. 703. (a) A security interest that is enforceable immediately before IC 26-1-9.1 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 IC 26-1-9.1 if, when IC 26-1-9.1 takes effect, the applicable requirements for enforceability and perfection under IC 26-1-9.1 are satisfied without further action.(b) Except as otherwise provided in IC 26-1-9.1-705, if, immediately before IC 26-1-9.1 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 IC 26-1-9.1 are not satisfied when IC 26-1-9.1 takes effect, the security interest:(1) is a perfected security interest for one (1) year after IC 26-1-9.1 takes effect;(2) remains enforceable thereafter only if the security interest becomes enforceable under IC 26-1-9.1-203 before the year expires; and(3) remains perfected thereafter only if the applicable requirements for perfection under IC 26-1-9.1 are satisfied before the year expires.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-704 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-704. Security Interest Unperfected Before Effective Date

Sec. 704. A security interest that is enforceable immediately before IC 26-1-9.1 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 (1) year after IC 26-1-9.1 takes effect;(2) remains enforceable thereafter if the security interest becomes enforceable under IC 26-1-9.1-203 when IC 26-1-9.1 takes effect or within one (1) year thereafter; and(3) becomes perfected:(A) without further action, when IC 26-1-9.1 takes effect if the applicable requirements for perfection under IC 26-1-9.1 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.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-705 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-705. Effectiveness of Action Taken Before Effective Date

Sec. 705. (a) If action, other than the filing of a financing statement, is taken before IC 26-1-9.1 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 IC 26-1-9.1 takes effect, the action is effective to perfect a security interest that attaches under IC 26-1-9.1 within one (1) year after IC 26-1-9.1 takes effect. An attached security interest becomes unperfected one (1) year after IC 26-1-9.1 takes effect unless the security interest becomes a perfected security interest under IC 26-1-9.1 before the expiration of that period.(b) The filing of a financing statement before IC 26-1-9.1 takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under IC 26-1-9.1.(c) IC 26-1-9.1 does not render ineffective an effective financing statement that is filed before IC 26-1-9.1 takes effect and satisfied the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in IC 26-1-9-103, before its repeal. However, except as otherwise provided in subsections (d) and (e) and IC 26-1-9.1-706, 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 IC 26-1-9.1 takes effect does not continue the effectiveness of the financing statement filed before IC 26-1-9.1 takes effect. However, upon the timely filing of a continuation statement after IC 26-1-9.1 takes effect and in accordance with the law of the jurisdiction governing perfection as provided in IC 26-1-9.1-301 through IC 26-1-9.1-342, the effectiveness of a financing statement filed in the same office in that jurisdiction before IC 26-1-9.1 takes effect continues for the period provided by the law of that jurisdiction.(e) Subsection (c)(2) applies to a financing statement that is filed against a transmitting utility before IC 26-1-9.1 takes effect and satisfied the applicable requirements for perfection under the law of the jurisdiction governing perfection as provided in IC 26-1-9-103, before its repeal, only to the extent that IC 26-1-9.1-301 through IC 26-1-9.1-342 provide that the law of a jurisdiction other than 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 IC 26-1-9.1 takes effect and a continuation statement filed after IC 26-1-9.1 takes effect is effective only to the extent that it satisfies the requirements of IC 26-1-9.1-501 through IC 26-1-9.1-527 for an initial financing statement.As added by P.L.57-2000, SEC.45. Amended by P.L.165-2001, SEC.20.
IN Code § 26-1-9.1-706 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-706. Filing of Initial Financing Statement; Effectiveness of Financing Statement

Sec. 706. (a) The filing of an initial financing statement in the office specified in IC 26-1-9.1-501 continues the effectiveness of a financing statement filed before IC 26-1-9.1 takes effect if:(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under IC 26-1-9.1;(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 if the initial financing statement is filed:(1) before IC 26-1-9.1 takes effect, for the period provided in IC 26-1-9-403 (before its repeal) for a financing statement; and(2) after IC 26-1-9.1 takes effect, for the period provided in IC 26-1-9.1-515 for an initial financing statement.(c) To be effective for purposes of subsection (a), an initial financing statement must:(1) satisfy the requirements of IC 26-1-9.1-501 through IC 26-1-9.1-526 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.As added by P.L.57-2000, SEC.45. Amended by P.L.1-2007, SEC.183.
IN Code § 26-1-9.1-707 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-707. Pre-Effective-Date Financing Statement

Sec. 707. (a) In this section, "pre-effective-date financing statement" means a financing statement filed before IC 26-1-9.1 takes effect.(b) After IC 26-1-9.1 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 under IC 26-1-9.1-301 through IC 26-1-9.1-342. 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 Indiana law governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after IC 26-1-9.1 takes effect only if:(1) the pre-effective date financing statement and an amendment are filed in the office specified in IC 26-1-9.1-501;(2) an amendment is filed in the office specified in IC 26-1-9.1-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies IC 26-1-9.1-706(c); or(3) an initial financing statement that provides the information as amended and satisfies IC 26-1-9.1-706(c) is filed in the office specified in IC 26-1-9.1-501.(d) If Indiana law governs the perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under IC 26-1-9.1-705(d) and IC 26-1-9.1-705(f) or IC 26-1-9.1-706.(e) Whether or not Indiana law governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in Indiana may be terminated after IC 26-1-9.1 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 IC 26-1-9.1-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection in IC 26-1-9.1-301 through IC 26-1-9.1-342 as the office in which to file a financing statement.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-708 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-708. Persons Entitled to File Initial Financing Statement or Continuation Statement

Sec. 708. A person may file an initial financing statement or a continuation statement under IC 26-1-9.1-701 through IC 26-1-9.1-709 if:(1) the secured party of record authorizes the filing; and(2) the filing is necessary under IC 26-1-9.1-701 through IC 26-1-9.1-709:(A) to continue the effectiveness of a financing statement filed before IC 26-1-9.1 takes effect; or(B) to perfect or continue the perfection of a security interest.As added by P.L.57-2000, SEC.45.
IN Code § 26-1-9.1-709 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 1. Uniform Commercial Code|Chapter 9.1. Secured Transactions|26-1-9.1-709. Priority

Sec. 709. (a) IC 26-1-9, before its repeal, determines the priority of conflicting claims to collateral if the relative priorities of the claims were established before IC 26-1-9.1 takes effect. In other cases, IC 26-1-9.1 determines priority.(b) For purposes of IC 26-1-9.1-322(a), the priority of a security interest that becomes enforceable under IC 26-1-9.1-203 dates from the time IC 26-1-9.1 takes effect if the security interest is perfected under IC 26-1-9.1 by the filing of a financing statement before IC 26-1-9.1 takes effect which would not have been effective to perfect the security interest under IC 26-1-9, before its repeal. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.As added by P.L.57-2000, SEC.45.