7-9A-607
Section 7-9A-607 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 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 7-9A-315; (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
7-9A-104(a)(1), may apply the balance of the deposit account to the...
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7-9A-620
Section 7-9A-620 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 the obligation it secures only if: (1) the debtor consents to the acceptance under subsection
(c); (2) the secured party does not receive, within the time set forth in subsection (d),
a notification of objection to the proposal authenticated by: (A) a person to which the secured
party was required to send a proposal under Section 7-9A-621; or (B) any other person, other
than the debtor, holding an interest in the collateral subordinate to the security interest
that is the subject of the proposal; (3) if the collateral is consumer goods, the collateral
is not in the possession of the debtor when the debtor consents to the acceptance; and (4)
subsection (e) does not require the secured party to...
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7-9A-616
Section 7-9A-616 Explanation of calculation of surplus or deficiency. (a) Definitions. In this
section: (1) "Explanation" means a writing that: (A) states the amount of the surplus
or deficiency; (B) provides an explanation in accordance with subsection (c) of how the secured
party calculated the surplus or deficiency; (C) states, if applicable, that future debits,
credits, charges, including additional credit service charges or interest, rebates, and expenses
may affect the amount of the surplus or deficiency; and (D) provides a telephone number or
mailing address from which additional information concerning the transaction is available.
(2) "Request" means a record: (A) authenticated by a debtor or consumer obligor;
(B) requesting that the recipient provide an explanation; and (C) sent after disposition of
the collateral under Section 7-9A-610. (b) Explanation of calculation. In a consumer-goods
transaction in which the debtor is entitled to a surplus or a consumer obligor is liable...

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7-9A-203
Section 7-9A-203 Attachment and enforceability of security interest; proceeds; supporting obligations;
formal requisites. (a) Attachment. A security interest attaches to collateral when it becomes
enforceable against the debtor with respect to the collateral, unless an agreement expressly
postpones the time of attachment. (b) Enforceability. Except as otherwise provided in subsections
(c) through (i), a security interest is enforceable against the debtor and third parties with
respect to the collateral only if: (1) value has been given; (2) the debtor has rights in
the collateral or the power to transfer rights in the collateral to a secured party; and (3)
one of the following conditions is met: (A) the debtor has authenticated a security agreement
that provides a description of the collateral and, if the security interest covers timber
to be cut, a description of the land concerned; (B) the collateral is not a certificated security
and is in the possession of the secured party under...
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7-9A-404
Section 7-9A-404 Rights acquired by assignee; claims and defenses against assignee. (a) Assignee's
rights subject to terms, claims, and defenses; exceptions. Unless an account debtor has made
an enforceable agreement not to assert defenses or claims, and subject to subsections (b)
through (e), the rights of an assignee are subject to: (1) all terms of the agreement between
the account debtor and assignor and any defense or claim in recoupment arising from the transaction
that gave rise to the contract; and (2) any other defense or claim of the account debtor against
the assignor which accrues before the account debtor receives a notification of the assignment
authenticated by the assignor or the assignee. (b) Account debtor's claim reduces amount owed
to assignee. Subject to subsection (c) and except as otherwise provided in subsection (d),
the claim of an account debtor against an assignor may be asserted against an assignee under
subsection (a) only to reduce the amount the account...
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7-9A-408
Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables,
and certain general intangibles ineffective. (a) Term restricting assignment generally ineffective.
Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement
between an account debtor and a debtor which relates to a health-care-insurance receivable
or a general intangible, including a contract, permit, license, or franchise, and which term
prohibits, restricts, or requires the consent of the person obligated on the promissory note
or the account debtor to, the assignment or transfer of, or creation, attachment, or perfection
of a security interest in, the promissory note, health-care-insurance receivable, or general
intangible, is ineffective to the extent that the term: (1) would impair the creation, attachment,
or perfection of a security interest; or (2) provides that the assignment or transfer or the
creation, attachment, or perfection of the...
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7-9A-625
Section 7-9A-625 Remedies for secured party's failure to comply with article. (a) Judicial
orders concerning noncompliance. If it is established that a secured party is not proceeding
in accordance with this article, a court may order or restrain collection, enforcement, or
disposition of collateral on appropriate terms and conditions. (b) Damages for noncompliance.
Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of
any loss caused by a failure to comply with this article. 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) Persons entitled to recover damages; statutory damages in consumer-goods transaction.
Except as otherwise provided in Section 7-9A-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) for its loss;...
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8-35-2
Section 8-35-2 Security freeze on credit report. (a) A consumer may place a security freeze
on the consumer's credit report by making a request in writing by certified mail to a consumer
credit reporting agency. No later than August 31, 2012, a consumer credit reporting agency
shall make available to consumers an Internet based method of requesting a security freeze
and a toll-free telephone number for consumers to use to place a security freeze, temporarily
lift a security freeze, or completely remove a security freeze. A security freeze shall prohibit,
subject to exceptions in subsection (m), the consumer credit reporting agency from releasing
the consumer's credit report or credit score without the prior express authorization of the
consumer as provided in subsection (d) or (e). Nothing in this subsection shall prevent a
consumer credit reporting agency from advising a third party that a security freeze is in
effect with respect to the consumer's credit report. (b) A consumer credit...
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7-9A-406
Section 7-9A-406 Discharge of account debtor; notification of assignment; identification and
proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles,
and promissory notes ineffective. (a) Discharge of account debtor; effect of notification.
Subject to subsections (b) through (i), an account debtor on an account, chattel paper, or
a payment intangible may discharge its obligation by paying the assignor until, but not after,
the account debtor receives a notification, authenticated by the assignor or the assignee,
that the amount due or to become due has been assigned and that payment is to be made to the
assignee. After receipt of the notification, the account debtor may discharge its obligation
by paying the assignee and may not discharge the obligation by paying the assignor. (b) When
notification ineffective. Subject to subsection (h), notification is ineffective under subsection
(a): (1) if it does not reasonably identify the rights assigned;...
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7-9A-621
Section 7-9A-621 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 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,
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, 10 days before the debtor
consented to the acceptance, held a security interest in the...
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