Maine Notice of Private Sale of Collateral (Non-consumer Goods) on Default
Description
How to fill out Notice Of Private Sale Of Collateral (Non-consumer Goods) On Default?
It is feasible to spend multiple hours online attempting to locate the valid document format that meets the federal and state requirements you need.
US Legal Forms offers a vast selection of valid templates that can be assessed by experts.
You can easily download or print the Maine Notice of Private Sale of Collateral (Non-consumer Goods) on Default from my services.
In order to find another version of the form, use the Search box to locate the template that meets your needs and requirements.
- If you currently possess a US Legal Forms account, you can Log In and then click the Download button.
- After that, you can complete, modify, print, or sign the Maine Notice of Private Sale of Collateral (Non-consumer Goods) on Default.
- Every valid document format you obtain belongs to you forever.
- To get another copy of any purchased form, visit the My documents tab and click the corresponding button.
- If you are utilizing the US Legal Forms website for the first time, follow the straightforward instructions below.
- First, ensure that you have selected the correct format for the state/city of your choice.
- Review the form description to verify you have chosen the correct form.
Form popularity
FAQ
Section 9-609 of the Uniform Commercial Code (UCC) permits the secured party to take possession of the collateral on default (unless the agreement specifies otherwise):
If the proceeds are not identifiable cash proceeds, the perfection of the secured party's security interest in such proceeds continues for a period of 20 days.
Under Revised Article 9 of the UCC, electronic chattel paper may be used as collateral in a secured transaction.
(12) "Collateral" means the property subject to a security interest or agricultural lien. The term includes: (A) proceeds to which a security interest attaches; (B) accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and. (C) goods that are the subject of a consignment.
Article 9 of the Uniform Commercial Code (UCC), as adopted by all fifty states, generally governs secured transactions where security interests are taken in personal property. It regulates creation and enforcement of security interests in movable property, intangible property, and fixtures.
Collateral Disposition means any sale, transfer or other disposition (whether voluntary or involuntary) to the extent involving assets or other rights or property that constitute Collateral.
Under Section 9-611 of the Uniform Commercial Code, a secured creditor is required, in most circumstances, to send a reasonable authenticated notification of disposition. The notice is intended to provide the debtor, and other interested parties, an opportunity to monitor the disposition of the collateral, purchase
Article 9 is an article under the Uniform Commercial Code (UCC) that governs secured transactions, or those transactions that pair a debt with the creditor's interest in the secured property.
Uniform Commercial Code (UCC) Articles Article 2/2a: The sale of goods, excluding real estate and service contracts. Article 2a covers leases of personal property. Article 3: Checks, drafts, and other negotiable instruments, such as notes (the promise to pay money).
Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.
