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Delaware Statutes, Title 6

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Delaware/Statutes

← All Delaware coverage

Title 6, Commerce and Trade

89 chapters · 1,810 sections in this title.

All chapters in Title 61,810 Ch 9, Article 9. Secured Transactions152 Ch 17, LIMITED PARTNERSHIPS111 Ch 18, LIMITED LIABILITY COMPANY ACT105 Ch 2, Article 2. Sales103 Ch 15, DELAWARE REVISED UNIFORM PARTNERSHIP ACT93 Ch 2a, Article 2A. Leases79 Ch 25, PROHIBITED TRADE PRACTICES78 Ch 3, Article 3. Negotiable Instruments71 Ch 8, Article 8. Investment Securities53 Ch 43, RETAIL INSTALLMENT SALES51 Ch 7, Article 7. Documents of Title43 Ch 51, Commerce and Trade42 Ch 4, Article 4. Bank Deposits and Collections41 Ch 24a, Commerce and Trade39

152 sections·Filtered byTitle 6✕Ch 9✕

6 Del. C. § 9-521. Uniform form of written financing statement and amendment.
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§ 9-521. Uniform form of written financing statement and amendment. (a) Initial financing statement form. — A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format except for a reason set forth i…
6 Del. C. § 9-522. Maintenance and destruction of records.
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§ 9-522. 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 statemen…
6 Del. C. § 9-523. Information from filing office; sale or license of records.
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§ 9-523. Information from filing office; sale or license of records. (a) Acknowledgment of filing written record. — If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the numb…
6 Del. C. § 9-524. Delay by filing office.
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§ 9-524. Delay by filing office. Delay by the filing office beyond a time limit prescribed by this part 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 c…

6 Del. C. § 9-525. Fees.

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§ 9-525. Fees. (a) Initial financing statement or other record; general rule. — Except as otherwise provided in subsection (e), the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in subsection (b), is: (1) The…

6 Del. C. § 9-526. Filing-office rules.

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§ 9-526. Filing-office rules. (a) Adoption of filing-office rules. — The Secretary of State shall adopt and publish rules to implement this Article. The filing-office rules must be: (1) consistent with this Article; and (2) adopted and published in accordance with Chapter 101 of …

6 Del. C. § 9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.

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§ 9-601. 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 part and, except as otherwise …

6 Del. C. § 9-602. Waiver and variance of rights and duties.

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§ 9-602. Waiver and variance of rights and duties. Except as otherwise provided in Section 9-624, 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 the following listed …

6 Del. C. § 9-603. Agreement on standards concerning rights and duties.

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§ 9-603. 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 9-602 if the …

6 Del. C. § 9-604. Procedure if security agreement covers real property or fixtures.

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§ 9-604. 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 part as to the personal property without prejudici…

6 Del. C. § 9-605. Unknown debtor or secondary obligor.

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§ 9-605. Unknown debtor or secondary obligor. (a) In general: no duty owed by secured party. — Except as provided in subsection (b), a secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor, unless the secured party kno…

6 Del. C. § 9-606. Time of default for agricultural lien.

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§ 9-606. Time of default for agricultural lien. For purposes of this part, 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.72 Del. Laws, c. 401, §…

6 Del. C. § 9-607. Collection and enforcement by secured party.

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§ 9-607. 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 performanc…

6 Del. C. § 9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.

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§ 9-608. 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,…

6 Del. C. § 9-609. Secured party’s right to take possession after default.

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§ 9-609. 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…

6 Del. C. § 9-610. Disposition of collateral after default.

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§ 9-610. 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 proces…

6 Del. C. § 9-611. Notification before disposition of collateral.

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§ 9-611. Notification before disposition of collateral. (a) “Notification date.” — 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 a signed notification of disposition; or (2) the debto…

6 Del. C. § 9-612. Timeliness of notification before disposition of collateral.

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§ 9-612. 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) 10-day period sufficient in non-cons…

6 Del. C. § 9-613. Contents and form of notification before disposition of collateral: general.

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§ 9-613. Contents and form of notification before disposition of collateral: general. (a) Contents and form of notification. — Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: …

6 Del. C. § 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction.

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§ 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction. (a) Contents and form of notification. — In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: …

6 Del. C. § 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.

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§ 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus. (a) Application of proceeds. — A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9-610 in the following order to: (1) the reasonabl…

6 Del. C. § 9-616. Explanation of calculation of surplus or deficiency.

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§ 9-616. Explanation of calculation of surplus or deficiency. (a) Definitions. — In this section: (1) “Explanation” means a record that: (A) states the amount of the surplus or deficiency; (B) provides an explanation in accordance with subsection (c) of how the secured party calc…

6 Del. C. § 9-617. Rights of transferee of collateral.

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§ 9-617. 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 the collateral; (2) discharges the security interest under which the disposi…

6 Del. C. § 9-618. Rights and duties of certain secondary obligors.

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§ 9-618. 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 the secondary obligor: (1) receives an assignment of a secured ob…

6 Del. C. § 9-619. Transfer of record or legal title.

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§ 9-619. Transfer of record or legal title. (a) “Transfer statement.” — In this section, “transfer statement” means a record signed by a secured party stating: (1) that the debtor has defaulted in connection with an obligation secured by specified collateral; (2) that the secured…

6 Del. C. § 9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.

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§ 9-620. 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 satisfac…

6 Del. C. § 9-621. Notification of proposal to accept collateral.

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§ 9-621. 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 par…

6 Del. C. § 9-622. Effect of acceptance of collateral.

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§ 9-622. 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 the extent consented to by the debtor; (2) transfers to the secured p…

6 Del. C. § 9-623. Right to redeem collateral.

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§ 9-623. 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 collateral, a person shall tender: (1) fulfillment of all obligations …

6 Del. C. § 9-624. Waiver.

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§ 9-624. Waiver. (a) Waiver of disposition notification. — A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 9-611 only by an agreement to that effect entered into and signed after default. (b) Waiver of mandatory disposi…

6 Del. C. § 9-625. Remedies for secured party’s failure to comply with article.

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§ 9-625. 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…

6 Del. C. § 9-626. Action in which deficiency or surplus is in issue.

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§ 9-626. Action in which deficiency or surplus is in issue. (a) Applicable rules if amount of deficiency or surplus in issue. — 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 ru…

6 Del. C. § 9-627. Determination of whether conduct was commercially reasonable.

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§ 9-627. Determination of whether conduct was commercially reasonable. (a) Greater amount obtainable under other circumstances; no preclusion of commercial reasonableness. — The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acce…

6 Del. C. § 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.

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§ 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. (a) Limitation of liability of secured party for noncompliance with Article. — Subject to subsection (f), unless a secured party knows that a person is a debtor or obligor, knows t…

6 Del. C. § 9-701. Effective date.

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§ 9-701. Effective date. This Act takes effect on July 1, 2001. References in this part to “this Act” refer to the legislative enactment by which this part is added to Article 9 of the Uniform Commercial Code. References in this part to “former Article 9” are to Article 9 of the …

6 Del. C. § 9-702. Savings clause.

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§ 9-702. Savings clause. (a) Pre-effective-date transactions or liens. — Except as otherwise provided in this part, this Act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this Act takes effect. (b) Continuing…

6 Del. C. § 9-703. Security interest perfected before effective date.

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§ 9-703. Security interest perfected before effective date. (a) Continuing priority over lien creditor: perfection requirements satisfied. — A security interest that is enforceable immediately before this Act takes effect and would have priority over the rights of a person that b…

6 Del. C. § 9-704. Security interest unperfected before effective date.

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§ 9-704. Security interest unperfected before effective date. A security interest that is enforceable immediately before this Act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) remains an enforceable security i…

6 Del. C. § 9-705. Effectiveness of action taken before effective date.

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§ 9-705. Effectiveness of action taken before effective date. (a) Pre-effective-date action; one-year perfection period unless reperfected. — If action, other than the filing of a financing statement, is taken before this Act takes effect and the action would have resulted in pri…

6 Del. C. § 9-706. When initial financing statement suffices to continue effectiveness of financing statement.

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§ 9-706. When initial financing statement suffices to continue effectiveness of financing statement. (a) Initial financing statement in lieu of continuation statement. — The filing of an initial financing statement in the office specified in Section 9-501 continues the effectiven…

6 Del. C. § 9-707. Amendment of pre-effective-date financing statement.

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§ 9-707. Amendment of pre-effective-date financing statement. (a) Pre-effective-date financing statement. — In this section, “pre-effective-date financing statement” means a financing statement filed before this Act takes effect. (b) Applicable law. — After this Act takes effect,…

6 Del. C. § 9-708. Persons entitled to file initial financing statement or continuation statement.

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§ 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 under t…

6 Del. C. § 9-709. Priority.

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§ 9-709. Priority. (a) Law governing priority. — This Act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this Act takes effect, former Article 9 of the Uniform Commercial Code determines prior…

6 Del. C. § 9-801. Effective date.

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§ 9-801. Effective date. This Act takes effect on July 1, 2013. References in this part to “this Act” refer to the legislative enactment by which this part is added to Article 9 of the Uniform Commercial Code. References in this part to “former Article 9” are to Article 9 of the …

6 Del. C. § 9-802. Savings clause.

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§ 9-802. Savings clause. (a) Pre-effective-date transactions or liens. — Except as otherwise provided in this part, this Act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this Act takes effect. (b) Pre-effect…

6 Del. C. § 9-803. Security interest perfected before effective date.

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§ 9-803. Security interest perfected before effective date. (a) Continuing perfection: perfection requirements satisfied. — A security interest that is a perfected security interest immediately before this Act takes effect is a perfected security interest under Article 9 as amend…

6 Del. C. § 9-804. Security interest unperfected before effective date.

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§ 9-804. Security interest unperfected before effective date. A security interest that is an unperfected security interest immediately before this Act takes effect becomes a perfected security interest: (1) without further action, when this Act takes effect if the applicable requ…

6 Del. C. § 9-805. Effectiveness of action taken before effective date.

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§ 9-805. Effectiveness of action taken before effective date. (a) Pre-effective-date filing effective. — The filing of a financing statement before this Act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements…

6 Del. C. § 9-806. When initial financing statement suffices to continue effectiveness of financing statement.

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§ 9-806. When initial financing statement suffices to continue effectiveness of financing statement. (a) Initial financing statement in lieu of continuation statement. — The filing of an initial financing statement in the office specified in Section 9-501 continues the effectiven…

6 Del. C. § 9-807. Amendment of pre-effective-date financing statement.

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§ 9-807. Amendment of pre-effective-date financing statement. (a) Pre-effective-date financing statement. — In this section, “pre-effective-date financing statement” means a financing statement filed before this Act takes effect. (b) Applicable law. — After this Act takes effect,…