reglab/statecodes huggingface dataset:
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9504 - Indication of collateral

§ 9504. Indication of collateral.
A financing statement sufficiently indicates the collateral which it covers if the financing statement provides:
(1) a description of the collateral pursuant to section 9108 (relating to sufficiency of description); or
(2) an indication that the financing statement covers all assets or all personal property.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9505 - Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions

§ 9505. Filing and compliance with other statutes and treaties
for consignments, leases, other bailments and other
transactions.
(a) Use of terms other than "debtor" and "secured party".
--A consignor, lessor or other bailor of goods, a licensor or a buyer of a payment intangible or promissory note may file a financing statement or may comply with a statute or treaty described in section 9311(a) (relating to perfection of security interests in property subject to certain statutes, regulations and treaties), using the terms "consignor," "consignee," "lessor," "lessee," "bailor," "bailee," "licensor," "licensee," "owner," "registered owner," "buyer," "seller" or words of similar import, instead of the terms "secured party" and "debtor."
(b) Effect of financing statement under subsection (a).
-- This chapter applies to the filing of a financing statement under subsection (a) and, as appropriate, to compliance which is equivalent to filing a financing statement under section 9311(b), but the filing or compliance is not of itself a factor in determining whether the collateral secures an obligation. If it is determined for another reason that the collateral secures an obligation, a security interest held by the consignor, lessor, bailor, licensor, owner or buyer which attaches to the collateral is perfected by the filing or compliance.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9506 - Effect of errors or omissions

§ 9506. Effect of errors or omissions.
(a) Minor errors and omissions.
--A financing statement substantially satisfying the requirements of this chapter is effective even if it has minor errors or omissions unless the errors or omissions make the financing statement seriously misleading.
(b) Financing statement seriously misleading.
--Except as otherwise provided in subsection (c), a financing statement which fails sufficiently to provide the name of the debtor in accordance with section 9503(a) (relating to sufficiency of debtor's name) is seriously misleading.
(c) Financing statement not seriously misleading.
--If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement which fails sufficiently to provide the name of the debtor in accordance with section 9503(a), the name provided does not make the financing statement seriously misleading.
(d) Debtor's correct name.
--For purposes of section 9508(b) (relating to effectiveness of financing statement if new debtor becomes bound by security agreement), the "debtor's correct name" in subsection (c) means the correct name of the new debtor.
Cross References.
Section 9506 is referred to in sections 9507, 9508 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9507 - Effect of certain events on effectiveness of financing statement

§ 9507. Effect of certain events on effectiveness of financing statement.
(a) Disposition.--
A filed financing statement remains effective with respect to collateral which is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien continues even if the secured party knows of or consents to the disposition.
(b) Information becoming seriously misleading.--
Except as otherwise provided in subsection (c) and section 9508 (relating to effectiveness of financing statement if new debtor becomes bound by security agreement), a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under section 9506 (relating to effect of errors or omissions).
(c) Change in debtor's name.--
If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under section 9503(a) (relating to name of debtor and secured party) so that the financing statement becomes seriously misleading under section 9506:
(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously misleading.
(June 27, 2013, P.L.154, No.30, eff. July 1, 2013)
2013 Amendment. Act 30 amended subsec. (c).
Cross References.
Section 9507 is referred to in section 9508 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9508 - Effectiveness of financing statement if new debtor becomes bound by security agreement

§ 9508. Effectiveness of financing statement if new debtor
becomes bound by security agreement.
(a) Financing statement naming original debtor.
--Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b) Financing statement becoming seriously misleading.
--If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement which is effective under subsection (a) to be seriously misleading under section 9506 (relating to effect of errors or omissions):
(1) the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before and within four months after the new debtor becomes bound under section 9203(d) (relating to when person becomes bound by another person's security agreement); and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four months after the new debtor becomes bound under section 9203(d) unless an initial financing statement providing the name of the new debtor is filed before the expiration of that time.
(c) When section not applicable.
--This section does not apply to collateral as to which a filed financing statement remains effective against the new debtor under section 9507(a) (relating to disposition).
Cross References.
Section 9508 is referred to in sections 9326, 9506, 9507 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9509 - Persons entitled to file a record

§ 9509. Persons entitled to file a record.
(a) Person entitled to file record.
--A person may file an initial financing statement, amendment which adds collateral covered by a financing statement or amendment which adds a debtor to a financing statement only if:
(1) the debtor authorizes the filing in an authenticated record or pursuant to subsection (b) or (c); or
(2) the person holds an agricultural lien which has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b) Security agreement as authorization.
--By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement and an amendment covering:
(1) the collateral described in the security agreement; and
(2) property which becomes collateral under section 9315(a)(2) (relating to secured party's rights on disposition of collateral and in proceeds), whether or not the security agreement expressly covers proceeds.
(c) Acquisition of collateral as authorization.
--By acquiring collateral in which a security interest or agricultural lien continues under section 9315(a)(1), a debtor authorizes the filing of an initial financing statement and an amendment covering the collateral and property which becomes collateral under section 9315(a)(2).
(d) Person entitled to file certain amendments.
--A person may file an amendment other than an amendment which adds collateral covered by a financing statement or an amendment which adds a debtor to a financing statement only if:
(1) the secured party of record authorizes the filing; or
(2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by section 9513(a) or (c) (relating to termination statement), the debtor authorizes the filing and the termination statement indicates that the debtor authorized it to be filed.
(e) Multiple secured parties of record.
--If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d).
Cross References.
Section 9509 is referred to in sections 9510, 9512, 9518, 9625 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9510 - Effectiveness of filed record

§ 9510. Effectiveness of filed record.
(a) Filed record effective if authorized.
--A filed record is effective only to the extent that it was filed by a person that may file it under section 9509 (relating to persons entitled to file a record).
(b) Authorization by one secured party of record.
--A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c) Continuation statement not timely filed.
--A continuation statement which is not filed within the six-month period prescribed by section 9515(d) (relating to when continuation statement may be filed) is ineffective.
Cross References.
Section 9510 is referred to in sections 9513, 9515 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9511 - Secured party of record

§ 9511. Secured party of record.
(a) Secured party of record.
--A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement which has been filed. If an initial financing statement is filed under section 9514(a) (relating to assignment reflected on initial financing statement), the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) Amendment naming secured party of record.
--If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under section 9514(b), the assignee named in the amendment is a secured party of record.
(c) Amendment deleting secured party of record.
--A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9512 - Amendment of financing statement

§ 9512. Amendment of financing statement.
(a) Amendment of information in financing statement.
-- Subject to section 9509 (relating to persons entitled to file a record), a person may add or delete collateral covered by, continue or terminate the effectiveness of or, subject to subsection (e), otherwise amend the information provided in a financing statement by filing an amendment which:
(1) identifies by its file number the initial financing statement to which the amendment relates; and
(2) if the amendment relates to an initial financing statement filed in a filing office described in section 9501(a)(1) (relating to filing offices), provides the information specified in section 9502(b) (relating to real- property-related financing statements).
(b) Period of effectiveness not affected.
--Except as otherwise provided in section 9515 (relating to duration and effectiveness of financing statement; effect of lapsed financing statement), the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c) Effectiveness of amendment adding collateral.
--A financing statement which is amended by an amendment which adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d) Effectiveness of amendment adding debtor.
--A financing statement which is amended by an amendment which adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
(e) Certain amendments ineffective.
--An amendment is ineffective to the extent it:
(1) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(2) purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
Cross References.
Section 9512 is referred to in sections 9109, 9516 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9513 - Termination statement

§ 9513. Termination statement.
(a) Consumer goods.
--A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value; or
(2) the debtor did not authorize the filing of the initial financing statement.
(b) Time for compliance with subsection (a).
--To comply with subsection (a), a secured party shall cause the secured party of record to file the termination statement:
(1) within one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value; or
(2) if earlier, within 20 days after the secured party receives an authenticated demand from a debtor.
(c) Other collateral.
--In cases not governed by subsection (a), within 20 days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(1) except in the case of a financing statement covering accounts or chattel paper which has been sold or goods which are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation or otherwise give value;
(2) the financing statement covers accounts or chattel paper which has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3) the financing statement covers goods which were the subject of a consignment to the debtor but are not in the debtor's possession; or
(4) the debtor did not authorize the filing of the initial financing statement.
(d) Effect of filing termination statement.
--Except as otherwise provided in section 9510 (relating to effectiveness of filed record), upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in section 9510, for purposes of sections 9519(g) (relating to removal of debtor's name), 9522(a) (relating to post-lapse maintenance and retrieval of information) and 9523(c) (relating to communication of requested information), the filing with the filing office of a termination statement relating to a financing statement which indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
Cross References.
Section 9513 is referred to in sections 9315, 9509, 9518, 9625 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9514 - Assignment of powers of secured party of record

§ 9514. Assignment of powers of secured party of record.
(a) Assignment reflected on initial financing statement.
-- Except as otherwise provided in subsection (c), an initial financing statement may reflect an assignment of all of the secured party's power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b) Assignment of filed financing statement.
--Except as otherwise provided in subsection (c), a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
(1) identifies by its file number the initial financing statement to which it relates;
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c) Assignment of record of mortgage.
--An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a financing statement filed as a fixture filing under section 9502(c) (relating to record of mortgage as financing statement) may be made only by an assignment of record of the mortgage in the manner provided by law of this Commonwealth other than this title.
Cross References.
Section 9514 is referred to in sections 9511, 9516, 9519 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9520 - Acceptance and refusal to accept record

§ 9520. Acceptance and refusal to accept record.
(a) Mandatory refusal to accept record.
--A filing office shall refuse to accept a record for filing for a reason set forth in section 9516(b) (relating to refusal to accept record; filing does not occur) and may refuse to accept a record for filing only for a reason set forth in section 9516(b).
(b) Communication concerning refusal.
--If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing- office rule but, in the case of a filing office described in section 9501(a)(2) (relating to filing offices), in no event more than five business days after the filing office receives the record.
(c) When filed financing statement effective.
--A filed financing statement satisfying section 9502(a) and (b) (relating to contents of financing statement; record of mortgage as financing statement; time of filing financing statement) is effective even if the filing office is required to refuse to accept it for filing under subsection (a). However, section 9338 (relating to priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information) applies to a filed financing statement providing information described in section 9516(b)(5) which is incorrect at the time the financing statement is filed.
(d) Separate application to multiple debtors.
--If a record communicated to a filing office provides information which relates to more than one debtor, this chapter applies as to each debtor separately.
Cross References.
Section 9520 is referred to in section 154 of Title 15 (Corporations and Unincorporated Associations).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9521 - Uniform form of written financing statement and amendment

§ 9521. Uniform form of written financing statement and
amendment.
(a) Initial financing statement form.
--A filing office which accepts written records may not refuse to accept a written initial financing statement in the form and format set forth in the final official text of the 1999 revisions to Article 9 of the Uniform Commercial Code promulgated by The American Law Institute and the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in section 9516(b) (relating to refusal to accept record; filing does not occur).
(b) Amendment form.
--A filing office which accepts written records may not refuse to accept a written record in the form and format set forth in the final official text of the 1999 revisions to Article 9 of the Uniform Commercial Code promulgated by The American Law Institute and the National Conference of Commissioners on Uniform State Laws, except for a reason set forth in section 9516(b).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9522 - Maintenance and destruction of records

§ 9522. Maintenance and destruction of records.
(a) Post-lapse maintenance and retrieval of information.
-- The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under section 9515 (relating to duration and effectiveness of financing statement; effect of lapsed financing statement) with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and by using the file number assigned to the initial financing statement to which the record relates.
(b) Destruction of written records.
--Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a).
Cross References.
Section 9522 is referred to in sections 9513, 9523 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9524 - Delay by filing office

§ 9524. Delay by filing office.
Delay by the filing office beyond a time limit prescribed by this chapter is excused if:
(1) the delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment or other circumstances beyond control of the filing office; and
(2) the filing office exercises reasonable diligence under the circumstances.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9526 - Filing-office rules

§ 9526. Filing-office rules.
(a) Adoption of filing-office rules.
--The Department of State shall promulgate rules to implement this division. The filing-office rules must be consistent with this division.
(b) Harmonization of rules.
--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 which enact substantially this chapter and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions which enact substantially this chapter, the department, so far as is consistent with the purposes, policies and provisions of this division, in promulgating filing-office rules, shall:
(1) consult with filing offices in other jurisdictions which enact substantially this chapter;
(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 which enact substantially this chapter.
Cross References.
Section 9526 is referred to in section 9102 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 95 - Filing › Section 9527 - Duty to report

§ 9527. Duty to report.
The Department of State shall report by October 31 of every even-numbered year to the Governor and the General Assembly on the operation of the filing office. The report must contain a statement of the extent to which:
(1) the filing-office rules are not in harmony with the rules of filing offices in other jurisdictions which enact substantially this chapter and the reasons for these variations; and
(2) the filing-office rules are not in harmony with the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators or any successor organization and the reasons for these variations.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes

§ 9601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes.
(a) Rights of secured party after default.--
After default, a secured party has the rights provided in this chapter and, except as otherwise provided in section 9602 (relating to waiver and variance of rights and duties), 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) Rights and duties of secured party in possession or control.--
A secured party in possession of collateral or control of collateral under section 7106 (relating to control of electronic document of title), 9104 (relating to control of deposit account), 9105 (relating to control of electronic chattel paper), 9106 (relating to control of investment property) or 9107 (relating to control of letter-of-credit right) has the rights and duties provided in section 9207 (relating to rights and duties of secured party having possession or control of collateral).
(c) Rights cumulative; simultaneous exercise.--
The rights under subsections (a) and (b) are cumulative and may be exercised simultaneously.
(d) Rights of debtor and obligor.--
Except as otherwise provided in subsection (g) and section 9605 (relating to unknown debtor or secondary obligor), after default, a debtor and an obligor have the rights provided in this chapter and by agreement of the parties.
(e) Lien of levy after judgment.--
If a secured party has reduced its claim to judgment, the lien of any levy which 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) Execution sale.--
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 division.
(g) Consignor or buyer of certain rights to payment.--
Except as otherwise provided in section 9607(c) (relating to commercially reasonable collection and enforcement), this chapter imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles or promissory notes.
(Apr. 16, 2008, P.L.57, No.13, eff. 60 days)
2008 Amendment.
Act 13 amended subsec. (b).
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9602 - Waiver and variance of rights and duties

§ 9602. Waiver and variance of rights and duties.
Except as otherwise provided in section 9624 (relating to waiver), 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:
(1) section 9207(b)(4)(iii) (relating to expenses, risks, duties and rights when secured party in possession);
(2) section 9210 (relating to request for accounting; request regarding list of collateral or statement of account);
(3) section 9607(c) (relating to commercially reasonable collection and enforcement);
(4) sections 9608(a) (relating to application of proceeds, surplus and deficiency if obligation secured) and 9615(c) (relating to application of noncash proceeds) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement or disposition;
(5) sections 9608(a) and 9615(d) (relating to surplus or deficiency if obligation secured) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) section 9609 (relating to secured party's right to take possession after default) 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 9610(b) (relating to commercially reasonable disposition), 9611 (relating to notification before disposition of collateral), 9613 (relating to contents and form of notification before disposition of collateral: general) and 9614 (relating to contents and form of notification before disposition of collateral: consumer-goods transaction);
(8) section 9615(f) (relating to calculation of surplus or deficiency in disposition to person related to secured party);
(9) section 9616 (relating to explanation of calculation of surplus or deficiency);
(10) sections 9620 (relating to acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral), 9621 (relating to notification of proposal to accept collateral) and 9622 (relating to effect of acceptance of collateral);
(11) section 9623 (relating to right to redeem collateral);
(12) section 9624 (relating to waiver); and
(13) sections 9625 (relating to remedies for secured party's failure to comply with division) and 9626 (relating to action in which deficiency or surplus is in issue).
Cross References.
Section 9602 is referred to in sections 9601, 9603 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9603 - Agreement on standards concerning rights and duties

§ 9603. Agreement on standards concerning rights and duties.
(a) Agreed standards.
--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 9602 (relating to waiver and variance of rights and duties) if the standards are not manifestly unreasonable.
(b) Agreed standards inapplicable to breach of peace.
-- Subsection (a) does not apply to the duty under section 9609 (relating to secured party's right to take possession after default) to refrain from breaching the peace.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9604 - Procedure if security agreement covers real property or fixtures

§ 9604. Procedure if security agreement covers real property or
fixtures.
(a) Enforcement: personal and real property.
--If a security agreement covers both personal and real property, a secured party may proceed:
(1) under this chapter 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 chapter do not apply.
(b) Enforcement: fixtures.
--Subject to subsection (c), if a security agreement covers goods which are or become fixtures, a secured party may proceed:
(1) under this chapter; or
(2) in accordance with the rights with respect to real property, in which case the other provisions of this chapter do not apply.
(c) Removal of fixtures.
--Subject to the other provisions of this chapter, 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) Injury caused by removal.
--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.
Cross References.
Section 9604 is referred to in section 9109 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9605 - Unknown debtor or secondary obligor

§ 9605. Unknown debtor or secondary obligor.
A secured party does not owe a duty based on its status as secured party to any of the following:
(1) A person that is a debtor or obligor unless the secured party knows:
(i) that the person is a debtor or obligor;
(ii) the identity of the person; and
(iii) how to communicate with the person.
(2) A secured party or lienholder that has filed a financing statement against a person unless the secured party knows:
(i) that the person is a debtor; and
(ii) the identity of the person.
Cross References.
Section 9605 is referred to in section 9601 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9606 - Time of default for agricultural lien

§ 9606. Time of default for agricultural lien.
For purposes of this chapter, 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.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9608 - Application of proceeds of collection or enforcement; liability for deficiency and right to surplus

§ 9608. Application of proceeds of collection or enforcement;
liability for deficiency and right to surplus.
(a) Application of proceeds, surplus and deficiency if obligation secured.
--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 9607 (relating to collection and enforcement by secured party) in the following order to:
(i) the reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney fees and legal expenses incurred by the secured party;
(ii) the satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and
(iii) 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 paragraph (1)(iii).
(3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under section 9607 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) No surplus or deficiency in sales of certain rights to payment.
--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.
Cross References.
Section 9608 is referred to in section 9602 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9609 - Secured party's right to take possession after default

§ 9609. Secured party's right to take possession after default.
(a) Possession; rendering equipment unusable; disposition on debtor's premises.
--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 9610 (relating to disposition of collateral after default).
(b) Judicial and nonjudicial process.
--A secured party may proceed under subsection (a):
(1) pursuant to judicial process; or
(2) without judicial process if it proceeds without breach of the peace.
(c) Assembly of collateral.
--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.
Cross References.
Section 9609 is referred to in sections 9102, 9602, 9603 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9610 - Disposition of collateral after default

§ 9610. Disposition of collateral after default.
(a) Disposition after default.--
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) Commercially reasonable disposition.--
Every aspect of a disposition of collateral, including the method, manner, time, place and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels and at any time and place and on any terms.
(c) Purchase by secured party.--
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 which is customarily sold on a recognized market or the subject of widely distributed standard price quotations.
(d) Warranties on disposition.--
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) Disclaimer of warranties.--
A secured party may disclaim or modify warranties under subsection (d):
(1) in a manner which 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) Record sufficient to disclaim warranties.--
A record is sufficient to disclaim warranties under subsection (e) if it indicates "There is no warranty relating to title, possession, quiet enjoyment or the like in this disposition" or uses words of similar import.
Cross References.
Section 9610 is referred to in sections 9408, 9602, 9609, 9611, 9615, 9616, 9618, 9620, 9623 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9611 - Notification before disposition of collateral

§ 9611. Notification before disposition of collateral.
(a) Notification date.
--As used in this section, the term "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) Notification of disposition required.
--Except as otherwise provided in subsection (d), a secured party that disposes of collateral under section 9610 (relating to disposition of collateral after default) shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.
(c) Persons to be notified.
--To comply with subsection (b), the secured party shall send an authenticated notification of disposition to all of the following:
(1) The debtor.
(2) Any secondary obligor.
(3) If the collateral is other than consumer goods, all of the following:
(i) 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.
(ii) Any other secured party or lienholder that, ten days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement which:
(A) identified the collateral;
(B) was indexed under the debtor's name as of that date; and
(C) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date.
(iii) Any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation or treaty described in section 9311(a)
(relating to security interest subject to other law).
(d) Subsection (b) inapplicable: perishable collateral; recognized market.
--Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.
(e) Compliance with subsection (c)(3)(ii).
--A secured party complies with the requirement for notification prescribed by subsection (c)(3)(ii) if both of the following paragraphs apply:
(1) Not later than 20 days or earlier than 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)(ii).
(2) Before the notification date, the secured party:
(i) did not receive a response to the request for information; or
(ii) 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.
Cross References.
Section 9611 is referred to in sections 9602, 9624 of this title.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9612 - Timeliness of notification before disposition of collateral

§ 9612. Timeliness of notification before disposition of
collateral.
(a) Reasonable time is question of fact.
--Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact.
(b) Ten-day period sufficient in nonconsumer transaction.
-- In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.
2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 13 - COMMERCIAL CODE › Chapter 96 - Default › Section 9613 - Contents and form of notification before disposition of collateral: general

§ 9613. 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:
(i) describes the debtor and the secured party;
(ii) describes the collateral which is the subject of the intended disposition;
(iii) states the method of intended disposition;
(iv) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(v) 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 which lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient even if the notification includes:
(i) information not specified by that paragraph; or
(ii) minor errors which 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 9614(3) (relating to contents and form of notification before disposition of collateral: consumer-goods transaction), 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).
(End of Form)
Cross References.
Section 9613 is referred to in sections 9602, 9614 of this title.