13 Pennsylvania Consolidated Statutes Chapter 96 - Default
Subchapter A. Default and Enforcement of Security Interest
- Section 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 - 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...
- Section 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...
- 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...
- Section 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...
- Section 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...
- Section 9607 - Collection And Enforcement By Secured Party
(a) Collection and enforcement generally.--If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other...
- 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...
- Section 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,...
- Section 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...
- Section 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...
- 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...
- Section 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...
- Section 9614 - Contents And Form Of Notification Before Disposition Of Collateral: Consumer-goods Transaction
In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: (i) the information specified in section...
- Section 9615 - Application Of Proceeds Of Disposition; Liability For Deficiency And Right To Surplus
§ 9615. Application of proceeds of disposition; liability for deficiency and right to surplus. (a) Application of proceeds.--A secured party shall apply or pay...
- Section 9616 - Explanation Of Calculation Of Surplus Or Deficiency
(a) Definitions.--As used in this section, the following words and phrases shall have the meanings given to them in this subsection: "Explanation." A writing...
- Section 9617 - Rights Of Transferee Of Collateral
(a) Effects of disposition.--A secured party's disposition of collateral after default: (1) transfers to a transferee for value all of the debtor's rights in...
- Section 9618 - Rights And Duties Of Certain Secondary Obligors
(a) Rights and duties of secondary obligor.--A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after...
- Section 9619 - Transfer Of Record Or Legal Title
(a) Transfer statement.--As used in this section, the term "transfer statement" means a record authenticated by a secured party stating: (1) that the debtor...
- Section 9620 - Acceptance Of Collateral In Full Or Partial Satisfaction Of Obligation; Compulsory Disposition Of Collateral
(a) Conditions to acceptance in satisfaction.--Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of...
- Section 9621 - Notification Of Proposal To Accept Collateral
(a) Persons to which proposal to be sent.--A secured party that desires to accept collateral in full or partial satisfaction of the obligation it...
- Section 9622 - Effect Of Acceptance Of Collateral
(a) Effect of acceptance.--A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) discharges the obligation to...
- Section 9623 - Right To Redeem Collateral
(a) Persons that may redeem.--A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral. (b) Requirements for redemption.--To redeem...
- Section 9624 - Waiver
(a) Waiver of disposition notification.--A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 9611 (relating to...
Subchapter B. Noncompliance with Division
Last modified: October 8, 2016