Chapter 79A — Chapter 79A
134 sections in this chapter.
ORS 79A.5230 UCC 9-523. Information from filing office; sale or license of records. (1) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send an image of the record showing the number assigned to the record pursuant to ORS 79A.5190 (1)(a) and the date and time of the filing of the record to the person indicated on the financing statement or amendment as the person to whom the acknowledgment should be sent or, if no person is so indicated, to the secured party or the person filing the written record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead
3.1K chars
(a) Note upon the copy the number assigned to the record pursuant to ORS 79A.5190 (1)(a) and the date and time of the filing of the record; and (b) Send the copy to the person indicated on the financing statement or amendment as the person to whom the acknowledgment should be sen…
ORS 79A.5240 UCC 9-524. Delay by filing office. Delay by the filing office beyond a time limit prescribed by ORS 79A.5010 to 79A.5280 is excused if
0.3K chars
(1) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment or other circumstances beyond control of the filing office; and (2) The filing office exercises reasonable diligence under the circumstances. [Formerly…
ORS 79A.5250 UCC 9-525. Fees; rules. (1) Except as otherwise provided in subsection (4) of this section, the nonrefundable fee for filing and indexing a record under ORS 79A.5010 to 79A.5280 may not exceed $15
1.1K chars
(2) The number of names required to be indexed does not affect the amount of the fee in subsection (1) of this section. (3) The nonrefundable fee for responding to a request for information from the filing office, including for communicating whether there is on file any financing…
ORS 79A.5260 UCC 9-526. Filing-office rules. (1) The Secretary of State shall adopt and publish rules applicable to its filing procedures, processes and operations to implement this chapter. The filing-office rules must be
1.1K chars
(a) Consistent with this chapter; and (b) Adopted and published in accordance with ORS chapter 183. (2) To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially ORS…
ORS 79A.5270 UCC 9-527. Duty to report. The Secretary of State shall report to the Legislative Assembly on or before January 15 of each odd-numbered year regarding the operation of the filing office. The report must contain a statement of the extent to which the filing-office rules are not in harmony with the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators, or any successor organization, and the reasons for these variations. [Formerly 79.0527]
0.0K chars
[Repealed or reserved.]
ORS 79A.5280 Liability of Secretary of State. Except as provided in ORS 30.260 to 30.300, the Secretary of State and the secretary’s officers and employees shall not be liable to debtors, secured parties or any other person in administering this chapter or ORS 81.230 to 81.263. [Formerly 79.0528]
0.1K chars
DEFAULT (Default and Enforcement of Security Interest)
ORS 79A.6010 UCC 9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes. (1) After default, a secured party has the rights provided in ORS 79A.6010 to 79A.6280 and, except as otherwise provided in ORS 79A.6020, those provided by agreement of the parties. A secured party
1.8K chars
(a) May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest or agricultural lien by any available judicial procedure; and (b) If the collateral is documents, may proceed either as to the documents or as to the goods they cover. (2) A secured p…
ORS 79A.6020 UCC 9-602. Waiver and variance of rights and duties. Except as otherwise provided in ORS 79A.6240, 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 sections
1.5K chars
(1) ORS 79A.2070 (2)(d)(C), which deals with use and operation of the collateral by the secured party; (2) ORS 79A.2100, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) ORS 79A.6070 (3), which deals with colle…
ORS 79A.6030 UCC 9-603. Agreement on standards concerning rights and duties. (1) 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 ORS 79A.6020 if the standards are not manifestly unreasonable
0.1K chars
(2) Subsection (1) of this section does not apply to the duty under ORS 79A.6090 to refrain from breaching the peace. [Formerly 79.0603]
ORS 79A.6040 UCC 9-604. Procedure if security agreement covers real property or fixtures. (1) If a security agreement covers both personal and real property, a secured party may proceed
1.5K chars
(a) Under ORS 79A.6010 to 79A.6280 as to the personal property without prejudicing any rights with respect to the real property; or (b) As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other …
ORS 79A.6050 UCC 9-605. Unknown debtor or secondary obligor. (1) Except as provided in subsection (2) of this section, a secured party does not owe a duty based on its status as secured party
1.1K chars
(a) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor; (B) The identity of the person; and (C) How to communicate with the person; or (b) To a secured party or lienholder that has filed a financing statement agains…
ORS 79A.6060 UCC 9-606. Time of default for agricultural lien. For purposes of ORS 79A.6010 to 79A.6280, 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. [Formerly 79.0606]
0.0K chars
[Repealed or reserved.]
ORS 79A.6070 UCC 9-607. Collection and enforcement by secured party. (1) If so agreed, and in any event after default, a secured party
2.4K chars
(a) 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; (b) May take any proceeds to which the secured party is entitled under ORS 79A.3150; (c) May enforce the obligation…
ORS 79A.6080 UCC 9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. (1) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply
1.8K chars
(a) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under ORS 79A.6070 in the following order to: (A) The reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by la…
ORS 79A.6090 UCC 9-609. Secured party’s right to take possession after default. (1) After default, a secured party
0.6K chars
(a) May take possession of the collateral; and (b) Without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under ORS 79A.6100. (2) A secured party may proceed under subsection (1) of this section: (a) Pursuant to judicial process; or (b) Wi…
ORS 79A.6100 UCC 9-610. Disposition of collateral after default. (1) 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
1.5K chars
(2) Every aspect of a disposition of collateral, including the method, manner, time, place and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit…
ORS 79A.6110 UCC 9-611. Notification before disposition of collateral. (1) As used in this section, “notification date” means the earlier of the date on which
2.4K chars
(a) A secured party sends to the debtor and any secondary obligor a signed notification of disposition; or (b) The debtor and any secondary obligor waive the right to notification. (2) Except as otherwise provided in subsection (4) of this section, a secured party that disposes o…
ORS 79A.6120 UCC 9-612. Timeliness of notification before disposition of collateral. (1) Except as otherwise provided in subsection (2) of this section, a notification of disposition sent after default and 15 days or more before the earliest time of disposition, as set forth in the notification, is sent within a reasonable time before the disposition
0.3K chars
(2) In a transaction other than a consumer transaction, a notification of disposition sent after default and 10 days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition. [Formerly 79.0612]
ORS 79A.6130 UCC 9-613. Contents and form of notification before disposition of collateral: general. Except in a consumer-goods transaction, the following rules apply
3.4K chars
(1) The contents of a notification of disposition are sufficient if the notification: (a) Indicates the name of the debtor and the name, address and telephone number of the secured party; (b) Describes the collateral that is the subject of the intended disposition; (c) States the…
ORS 79A.6140 UCC 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction. In a consumer-goods transaction, the following rules apply
5.1K chars
(1) A notification of disposition must provide the following information: (a) The information specified in ORS 79A.6130 (1); (b) A description of any liability for a deficiency of the person to which the notification is sent; (c) A telephone number from which the amount that must…
ORS 79A.6150 UCC 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus. (1) A secured party shall apply or pay over for application the cash proceeds of disposition under ORS 79A.6100 in the following order to
3.7K chars
(a) The reasonable expenses of retaking, holding, preparing for disposition, processing and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney fees and legal expenses incurred by the secured party; (b) The satisfaction of obliga…
ORS 79A.6160 UCC 9-616. Explanation of calculation of surplus or deficiency. (1) As used in this section
3.6K chars
(a) “Explanation” means a record that: (A) States the amount of the surplus or deficiency; (B) Provides an explanation in accordance with subsection (3) of this section of how the secured party calculated the surplus or deficiency; (C) States, if applicable, that future debits, c…
ORS 79A.6170 UCC 9-617. Rights of transferee of collateral. (1) A secured party’s disposition of collateral after default
0.8K chars
(a) Transfers to a transferee for value all of the debtor’s rights in the collateral; (b) Discharges the security interest under which the disposition is made; and (c) Discharges any subordinate security interest or other subordinate lien. (2) A transferee that acts in good faith…
ORS 79A.6180 UCC 9-618. Rights and duties of certain secondary obligors. (1) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor
0.5K chars
(a) Receives an assignment of a secured obligation from the secured party; (b) Receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (c) Is subrogated to the rights of a secured party with respect t…
ORS 79A.6190 UCC 9-619. Transfer of record or legal title. (1) As used in this section, “transfer statement” means a record signed by a secured party stating
1.4K chars
(a) That the debtor has defaulted in connection with an obligation secured by specified collateral; (b) That the secured party has exercised its post-default remedies with respect to the collateral; (c) That, by reason of the exercise, a transferee has acquired the rights of the …
ORS 79A.6200 UCC 9-620. Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. (1) Except as otherwise provided in subsection (7) of this section, a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if
3.4K chars
(a) The debtor consents to the acceptance under subsection (3) of this section; (b) The secured party does not receive, within the time set forth in subsection (4) of this section, a notification of objection to the proposal signed by: (A) A person to which the secured party was …
ORS 79A.6210 UCC 9-621. Notification of proposal to accept collateral. (1) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to
1.1K chars
(a) Any person from which the secured party has received, before the debtor consented to the acceptance, a signed notification of a claim of an interest in the collateral; (b) Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held …
ORS 79A.6220 UCC 9-622. Effect of acceptance of collateral. (1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures
0.5K chars
(a) Discharges the obligation to the extent consented to by the debtor; (b) Transfers to the secured party all of a debtor’s rights in the collateral; (c) Discharges the security interest or agricultural lien that is the subject of the debtor’s consent and any subordinate securit…
ORS 79A.6230 UCC 9-623. Right to redeem collateral. (1) A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral
0.5K chars
(2) To redeem collateral, a person shall tender: (a) Fulfillment of all obligations secured by the collateral; and (b) The reasonable expenses and attorney fees described in ORS 79A.6150 (1)(a). (3) A redemption may occur at any time before a secured party: (a) Has collected coll…
ORS 79A.6240 UCC 9-624. Waiver. (1) A debtor or secondary obligor may waive the right to notification of disposition of collateral under ORS 79A.6110 only by an agreement to that effect entered into and signed after default
0.4K chars
(2) A debtor may waive the right to require disposition of collateral under ORS 79A.6200 (5) only by an agreement to that effect entered into and signed after default. (3) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collater…
ORS 79A.6250 UCC 9-625. Remedies for secured party’s failure to comply with article. (1) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement or disposition of collateral on appropriate terms and conditions
3.2K chars
(2) Subject to subsections (3), (4) and (6) of this section, a person is liable for damages in the amount of any loss caused by a failure to comply with this chapter. Loss caused by a failure to comply may include loss resulting from the debtor’s inability to obtain, or increased…
ORS 79A.6260 UCC 9-626. Action in which deficiency or surplus is in issue. (1) 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
2.3K chars
(a) A secured party need not prove compliance with the provisions of ORS 79A.6010 to 79A.6280 relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue. (b) If the secured party’s compli…
ORS 79A.6270 UCC 9-627. Determination of whether conduct was commercially reasonable. (1) 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 is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition or acceptance was made in a commercially reasonable manner
0.9K chars
(2) A disposition of collateral is made in a commercially reasonable manner if the disposition is made: (a) In the usual manner on any recognized market; (b) At the price current in any recognized market at the time of the disposition; or (c) Otherwise in conformity with reasonab…
ORS 79A.6280 UCC 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor. (1) Subject to subsection (6) of this section, 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
2.4K chars
(a) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and (b) The secured party’s failure to comply with this chapter does not affect the liability o…