reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 5 - FILING › Section 28-9-525 - FEES.

28-9-525. FEES. (a) Except as otherwise provided in subsection (e) of this section, the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in section 28-9-502(c), is:
(1) Six dollars ($6.00) if the record is communicated in writing and consists of one (1) or two (2) pages;
(2) Twelve dollars ($12.00) if the record is communicated in writing and consists of more than two (2) pages; and
(3) Three dollars ($3.00) if the record is communicated by another medium authorized by filing office rule.
(b) Except as otherwise provided in subsection (e) of this section, the fee for filing and indexing an initial financing statement of the kind described in section 28-9-502(c) is the amount specified in subsection (c) of this section, if applicable.
(c) The number of names required to be indexed does not affect the amount of the fee in subsections (a) and (b) of this section.
(d) The fee for responding to a request for information from the filing office, including for issuing a certificate showing whether there is on file any financing statement naming a particular debtor, is twelve dollars ($12.00).
(e) This section does not require a fee with respect to a record of a mortgage which is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under section 28-9-502(c). However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply.
(f) The secretary of state shall, by administrative rule, establish a fee schedule for filing and indexing and other matters relating to filing of financing statements covering farm products and for public access to the secretary of state’s files which are open to public inspection. A secured party shall provide an itemization of fees paid by the secured party for filing, searches or other matters related to filing of financing statements covering farm products pertaining to that debtor.
History:
[28-9-525, added 2001, ch. 208, sec. 2, p. 779.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 5 - FILING › Section 28-9-526 - FILING OFFICE RULES.

28-9-526. FILING OFFICE RULES. (a) The secretary of state shall promulgate rules to implement this chapter. The filing office rules must be:
(1) Consistent with this chapter; and
(2) Promulgated in accordance with the administrative procedure act, chapter 52, title 67, Idaho Code.
(b) To keep the filing office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part, the secretary of state, so far as is consistent with the purposes, policies and provisions of this chapter, in adopting, amending and repealing filing office rules, shall:
(1) Consult with filing offices in other jurisdictions that enact substantially this part; and
(2) Consult the most recent version of the model rules promulgated by the international association of corporate administrators or any successor organization; and
(3) Take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this part.
History:
[28-9-526, added 2001, ch. 208, sec. 2, p. 779.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-601 - RIGHTS AFTER DEFAULT — JUDICIAL ENFORCEMENT — CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES OR PROMISSORY NOTES.

28-9-601. RIGHTS AFTER DEFAULT — JUDICIAL ENFORCEMENT — CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES OR PROMISSORY NOTES. (a) After default, a secured party has the rights provided in this part and, except as otherwise provided in section 28-9-602, those provided by agreement of the parties. A secured party:
(1) May reduce a claim to judgment, foreclose or otherwise enforce the claim, security interest or agricultural lien by any available judicial procedure; and
(2) If the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(b) A secured party in possession of collateral or control of collateral under section 28-7-106, 28-9-104, 28-9-105, 28-9-106 or 28-9-107 has the rights and duties provided in section 28-9-207.
(c) The rights under subsections (a) and (b) of this section are cumulative and may be exercised simultaneously.
(d) Except as otherwise provided in subsection (g) of this section and section 28-9-605, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(e) If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(1) The date of perfection of the security interest or agricultural lien in the collateral;
(2) The date of filing a financing statement covering the collateral; or
(3) Any date specified in a statute under which the agricultural lien was created.
(f) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this chapter.
(g) Except as otherwise provided in section 28-9-607(c), this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
History:
[28-9-601, added 2001, ch. 208, sec. 2, p. 780; am. 2004, ch. 42, sec. 32, p. 133.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-602 - WAIVER AND VARIANCE OF RIGHTS AND DUTIES.

28-9-602. WAIVER AND VARIANCE OF RIGHTS AND DUTIES. Except as otherwise provided in section 28-9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1) Section 28-9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2) Section 28-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Section 28-9-607(c), which deals with collection and enforcement of collateral;
(4) Sections 28-9-608(a) and 28-9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Sections 28-9-608(a) and 28-9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 28-9-609 to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7) Sections 28-9-610(b), 28-9-611, 28-9-613 and 28-9-614, which deal with disposition of collateral;
(8) Section 28-9-615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9) Section 28-9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 28-9-620, 28-9-621 and 28-9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 28-9-623, which deals with redemption of collateral;
(12) Section 28-9-624, which deals with permissible waivers; and
(13) Sections 28-9-625 and 28-9-626, which deal with the secured party’s liability for failure to comply with this chapter.
History:
[28-9-602, added 2001, ch. 208, sec. 2, p. 780.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-603 - AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.

28-9-603. AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES. (a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section 28-9-602 if the standards are not manifestly unreasonable.
(b) Subsection (a) of this section does not apply to the duty under section 28-9-609 to refrain from breaching the peace.
History:
[28-9-603, added 2001, ch. 208, sec. 2, p. 781.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-604 - PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.

28-9-604. PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES. (a) If a security agreement covers both personal and real property, a secured party may proceed:
(1) Under this part as to the personal property without prejudicing any rights with respect to the real property; or
(2) As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.
(b) Subject to subsection (c) of this section, if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1) Under this part; or
(2) In accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.
(c) Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may remove the collateral from the real property.
(d) A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.
History:
[28-9-604, added 2001, ch. 208, sec. 2, p. 781.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-605 - UNKNOWN DEBTOR OR SECONDARY OBLIGOR.

28-9-605. UNKNOWN DEBTOR OR SECONDARY OBLIGOR. A secured party does not owe a duty based on 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.
History:
[28-9-605, added 2001, ch. 208, sec. 2, p. 782.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-606 - TIME OF DEFAULT FOR AGRICULTURAL LIEN.

28-9-606. TIME OF DEFAULT FOR AGRICULTURAL LIEN. For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
History:
[28-9-606, added 2001, ch. 208, sec. 2, p. 782.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-607 - COLLECTION AND ENFORCEMENT BY SECURED PARTY.

28-9-607. 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 28-9-315, Idaho Code;
(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 28-9-104(a)(1), Idaho Code, 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 28-9-104(a)(2) or (3), Idaho Code, 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) of this section, 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) of this section 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:
[28-9-607, added 2001, ch. 208, sec. 2, p. 782; am. 2012, ch. 145, sec. 19, p. 409.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-608 - APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT — LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.

28-9-608. 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 28-9-607 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 subsection (1)(C) of this section.
(3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under section 28-9-607 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:
[28-9-608, added 2001, ch. 208, sec. 2, p. 783.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-609 - SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT.

28-9-609. 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 28-9-610.
(b) A secured party may proceed under subsection (a) of this section:
(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:
[28-9-609, added 2001, ch. 208, sec. 2, p. 784.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-610 - DISPOSITION OF COLLATERAL AFTER DEFAULT.

28-9-610. 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 (1) 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) of this section:
(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) of this section 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:
[28-9-610, added 2001, ch. 208, sec. 2, p. 784.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-611 - NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.

28-9-611. 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) of this section, a secured party that disposes of collateral under section 28-9-610 shall send to the persons specified in subsection (c) of this section a reasonable authenticated notification of disposition.
(c) To comply with subsection (b) of this section, 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 (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:
(i) identified the collateral;
(ii) was indexed under the debtor’s name as of that date; and
(iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and
(C) any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in section 28-9-311(a).
(d) Subsection (b) of this section 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) of this section if:
(1) Not later than twenty (20) days or earlier than thirty (30) days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor’s name in the office indicated in subsection (c)(3)(B) of this section; 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:
[28-9-611, added 2001, ch. 208, sec. 2, p. 784.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-612 - TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.

28-9-612. TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL. (a) Except as otherwise provided in subsection (b) of this section, whether a notification is sent within a reasonable time is a question of fact.
(b) A notification of disposition sent after default and ten (10) days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.
History:
[28-9-612, added 2001, ch. 208, sec. 2, p. 785.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-613 - CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL — GENERAL.

28-9-613. 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 subsection (1) of this section are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in subsection (1) of this section are sufficient, even if the notification includes:
(A) Information not specified by subsection (1) of this section; 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 28-9-614(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: …………………………………………
(For a private disposition:)
We will sell (or lease or license, as applicable) the ……..(describe collateral)……… privately sometime after …………….(day and date)……….
You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell (or lease or license, as applicable) (for a charge of $………). You may request an accounting by calling us at ………(telephone number)……..
History:
[28-9-613, added 2001, ch. 208, sec. 2, p. 786.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-617 - RIGHTS OF TRANSFEREE OF COLLATERAL.

28-9-617. 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) of this section, 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) of this section, 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:
[28-9-617, added 2001, ch. 208, sec. 2, p. 790.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-618 - RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.

28-9-618. 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) of this section:
(1) Is not a disposition of collateral under section 28-9-610; and
(2) Relieves the secured party of further duties under this chapter.
History:
[28-9-618, added 2001, ch. 208, sec. 2, p. 791.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-619 - TRANSFER OF RECORD OR LEGAL TITLE.

28-9-619. 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 postdefault 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) of this section 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:
[28-9-619, added 2001, ch. 208, sec. 2, p. 791.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-621 - NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.

28-9-621. 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 (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 section 28-9-311(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) of this section.
History:
[28-9-621, added 2001, ch. 208, sec. 2, p. 793.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-622 - EFFECT OF ACCEPTANCE OF COLLATERAL.

28-9-622. 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) of this section, even if the secured party fails to comply with this chapter.
History:
[28-9-622, added 2001, ch. 208, sec. 2, p. 793.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-623 - RIGHT TO REDEEM COLLATERAL.

28-9-623. 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 28-9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under section 28-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under section 28-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 28-9-622.
History:
[28-9-623, added 2001, ch. 208, sec. 2, p. 794.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-624 - WAIVER.

28-9-624. WAIVER. (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 28-9-611 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 28-9-620(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 28-9-623 only by an agreement to that effect entered into and authenticated after default.
History:
[28-9-624, added 2001, ch. 208, sec. 2, p. 794.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-625 - REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH CHAPTER.

28-9-625. REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH CHAPTER. (a) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions.
(b) Subject to subsections (c) and (d) of this section, a person is liable for damages in the amount of any loss caused by a failure to comply with this chapter. Loss caused by a failure to comply may include loss resulting from the debtor’s inability to obtain, or increased costs of, alternative financing.
(c) Except as otherwise provided in section 28-9-628:
(1) A person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) of this section for its loss; and
(2) If the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event, an amount not less than the credit service charge plus ten percent (10%) of the principal amount of the obligation or the time price differential plus ten percent (10%) of the cash price.
(d) A debtor whose deficiency is eliminated under section 28-9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under section 28-9-626 may not otherwise recover under subsection (b) of this section for noncompliance with the provisions of this part relating to collection, enforcement, disposition or acceptance.
(e) In addition to any damages recoverable under subsection (b) of this section, the debtor, consumer obligor or person named as a debtor in a filed record, as applicable, may recover one hundred dollars ($100) in each case from a person that:
(1) Files a record that the person is not entitled to file under section 28-9-509(a);
(2) Fails to cause the secured party of record to file or send a termination statement as required by section 28-9-513(a) or (c).
(f) If a secured party fails to comply with a request regarding a list of collateral or a statement of account under section 28-9-210, the secured party may claim a security interest only as shown in the statement included in the request as against a person that is reasonably misled by the failure.
History:
[28-9-625, added 2001, ch. 208, sec. 2, p. 794.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-626 - ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE.

28-9-626. ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE. In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:
(a) 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.
(b) 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.
(c) Except as otherwise provided in section 28-9-628, 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:
(1) The proceeds of the collection, enforcement, disposition or acceptance; or
(2) 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.
(d) For purposes of subsection (c)(2) of this section, 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.
(e) If a deficiency or surplus is calculated under section 28-9-615(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.
History:
[28-9-626, added 2001, ch. 208, sec. 2, p. 795; am. 2002, ch. 107, sec. 5, p. 302.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-627 - DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE.

28-9-627. 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) of this section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition or acceptance is not commercially reasonable.
History:
[28-9-627, added 2001, ch. 208, sec. 2, p. 795.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 6 - DEFAULT › Section 28-9-628 - NONLIABILITY AND LIMITATION ON LIABILITY OF SECURED PARTY — LIABILITY OF SECONDARY OBLIGOR.

28-9-628. 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 28-9-625(c)(2) for its failure to comply with section 28-9-616.
(e) A secured party is not liable under section 28-9-625(c)(2) more than once with respect to any one (1) secured obligation.
History:
[28-9-628, added 2001, ch. 208, sec. 2, p. 796.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 7 - TRANSITION › Section 28-9-702 - SAVINGS CLAUSE.

28-9-702. 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) of this section and sections 28-9-703 through 28-9-709:
(1) Transactions and liens that were not governed by former chapter 9, title 28, Idaho 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) This act does not affect an action, case or proceeding commenced before this act takes effect.
History:
[28-9-702, added 2001, ch. 208, sec. 2, p. 797.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 7 - TRANSITION › Section 28-9-703 - SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.

28-9-703. 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 28-9-705, 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 (1) year after this act takes effect;
(2) Remains enforceable thereafter only if the security interest becomes enforceable under section 28-9-203 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:
[28-9-703, added 2001, ch. 208, sec. 2, p. 797.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 7 - TRANSITION › Section 28-9-704 - SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.

28-9-704. 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 (1) year after this act takes effect;
(2) Remains enforceable thereafter if the security interest becomes enforceable under section 28-9-203 when this act takes effect or within one (1) 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:
[28-9-704, added 2001, ch. 208, sec. 2, p. 797.]
2023 Idaho Code › Title 28 - COMMERCIAL TRANSACTIONS › Chapter 9 - SECURED TRANSACTIONS › Part 7 - TRANSITION › Section 28-9-706 - WHEN INITIAL FINANCING STATEMENT SUFFICES TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT.

28-9-706. 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 28-9-501 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 preeffective-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) of this section.
(b) The filing of an initial financing statement under subsection (a) of this section continues the effectiveness of the preeffective-date financing statement:
(1) If the initial financing statement is filed before this act takes effect, for the period provided in former section 28-9-403 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 28-9-515 with respect to an initial financing statement.
(c) To be effective for purposes of subsection (a) of this section, an initial financing statement must:
(1) Satisfy the requirements of part 5 for an initial financing statement;
(2) Identify the preeffective-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 preeffective-date financing statement remains effective.
History:
[28-9-706, added 2001, ch. 208, sec. 2, p. 799.]