§490:9-608 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:
(b) If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency. [L 2000, c 241, pt of §1; am L 2001, c 228, §8; am L 2023, c 132, §64]