Title 42a — Title 42a: Uniform Commercial Code

Sec. 42a-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 se…

Sec. 42a-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 …

Sec. 42a-9-609. Secured party's right to take possession after default. Use of electronic self-help restricted. (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 deb…

Sec. 42a-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 …

Sec. 42a-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 an…

Sec. 42a-9-612. Timeliness of notification before disposition of collateral. (a) Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a transaction other than a consumer transaction, a notification o…

Sec. 42a-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 s…

Sec. 42a-9-614. 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: (A) The information specified in s…

Sec. 42a-9-615. Application of proceeds of disposition. Liability for deficiency and right to surplus. (a) A secured party shall apply or pay over for application the cash proceeds of disposition under section 42a-9-610 in the following order to: (1) The reasonable expenses of re…

Sec. 42a-9-616. Explanation of calculation of surplus or deficiency. (a) 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 …

Sec. 42a-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 (…

Sec. 42a-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…

Sec. 42a-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…

Sec. 42a-9-620. Acceptance of collateral in full or partial satisfaction of obligation. Compulsory disposition of collateral. (a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures onl…

Sec. 42a-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 debto…

Sec. 42a-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 deb…

Sec. 42a-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 ex…

Sec. 42a-9-624. Waiver. (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 42a-9-611 only by an agreement to that effect entered into and authenticated after default. (b) A debtor may waive the right to require disposi…

Sec. 42a-9-625. Remedies for secured party's failure to comply with this article. (a) 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 ter…

Sec. 42a-9-626. Action in which deficiency or surplus is in issue. (a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (1) A secured party need not prove compliance …

Sec. 42a-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 i…

Sec. 42a-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 i…

Sec. 42a-9-701. Reserved for future use.

Sec. 42a-9-702. Savings clause. (a) Except as otherwise provided in this part, public act 01-132* applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before October 1, 2001. (b) Except as otherwise provided in subsection …

Sec. 42a-9-703. Security interest perfected before October 1, 2001. (a) A security interest that is enforceable immediately before October 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest under…

Sec. 42a-9-704. Security interest unperfected before October 1, 2001. A security interest that is enforceable immediately before October 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable securit…

Sec. 42a-9-705. Effectiveness of action taken before October 1, 2001. (a) If action, other than the filing of a financing statement, is taken before October 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a l…

Sec. 42a-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 42a-9-501 continues the effectiveness of a financing statement filed before October 1, 2…

Sec. 42a-9-707. Amendment of pre-effective-date financing statement. (a) In this section, “pre-effective-date financing statement” means a financing statement filed before October 1, 2001. (b) After October 1, 2001, a person may add or delete collateral covered by, continue or te…

Sec. 42a-9-708. Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this part if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary …

Sec. 42a-9-709. Priority. (a) Public act 01-132* determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before October 1, 2001, sections 42a-9-101 to 42a-9-507, inclusive, of the general statutes, revision o…

Sec. 42a-9-801. Reserved for future use.

Sec. 42a-9-802. Savings clause. (a) Except as otherwise provided in this part, public act 11-108* applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2013. (b) Public act 11-108* does not affect an action, …

Sec. 42a-9-803. Security interest perfected before July 1, 2013. (a) A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this article, as amended by public act 11-108*, if, on July 1, 2013, the applicab…

Sec. 42a-9-804. Security interest unperfected before July 1, 2013. A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest: (1) Without further action, on July 1, 2013, if the applicable requirements for …

Sec. 42a-9-805. Effectiveness of action taken before July 1, 2013. (a) The filing of a financing statement before July 1, 2013, is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this article, as ame…

Sec. 42a-9-806. 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 42a-9-501 continues the effectiveness of a financing statement filed before July 1, 2013…

Sec. 42a-9-807. Amendment of financing statement filed before July 1, 2013. (a) In this section and section 42a-9-806, “pre-effective-date financing statement” means a financing statement filed before July 1, 2013. (b) On or after July 1, 2013, a person may add or delete collater…

Sec. 42a-9-808. Person entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this part if: (1) The secured party of record authorizes the filing; and (2) The filing is necessary u…

Sec. 42a-9-809. Priority. Public act 11-108* determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013, this article in effect on June 30, 2013, determines priority. (P.A. 11-108, S. 25.) *N…

Sec. 42a-10-101. Effective date. This title shall apply to transactions entered into and events occurring on and after October 1, 1961. (1959, P.A. 133, S. 10-101.)

Sec. 42a-10-102. Provision for transition. (1) Subject to the following subsections on filing with respect to certain security transactions, transactions validly entered into before October 1, 1961, and the rights, duties and interests flowing from them remain valid thereafter an…

Sec. 42a-10-104. Laws not repealed. Section 42a-10-104 is repealed, effective October 1, 2004. (1959, P.A. 133, S. 10-104; P.A. 04-64, S. 76.)

Sec. 42a-10-105. Transition. Change of filing requirement. (1) Transactions validly entered into after October 1, 1961, and before October 1, 1976, and which were subject to the provisions of title 42a of the general statutes, revised to 1975, and which would be subject to subsec…

Sec. 42a-10-106. Transition on change of place on filing. (1) A financing statement or continuation statement filed prior to October 1, 1976, which shall not have lapsed prior to said date shall remain effective for the period provided in title 42a prior to said date, but not les…

Sec. 42a-10-107. Required refiling. Section 42a-10-107 is repealed, effective October 1, 2001. (P.A. 76-369, S. 43; P.A. 01-132, S. 183.)

Sec. 42a-10-108. Transition as to priorities. Except as otherwise provided in sections 42a-10-105 to 42a-10-109, inclusive, title 42a, as amended, prior to October 1, 1976, shall apply to any questions of priority if the positions of the parties were fixed prior to October 1, 197…

Sec. 42a-10-109. Provisions of this title declaratory of meaning prior to October 1, 1976. Unless a change in law has clearly been made, the provisions of this title, as amended, shall be deemed declaratory of the meaning of title 42a prior to October 1, 1976. (P.A. 76-369, S. 45…