Title 62A, UNIFORM COMMERCIAL CODE

The department of licensing shall report annually on or before December 31st to the governor on the operation of the filing office. [2000 c 250 s 9A-527.]

(a) Rights of secured party after default. After default, a secured party has the rights provided in this part and, except as otherwise provided in RCW 62A.9A-602, those provided by agreement of the parties. A secured party: (1) May reduce a claim to judgment, foreclose, or other…

Except as otherwise provided in RCW 62A.9A-624, to the extent that they give rights to an obligor (other than a secondary obligor) or a debtor 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) …

(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 RCW 62A.9A-602 if the standards are not manifestly unreasonable. (b) Agreed standards…

(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 prejudicing any rights with respect to the real property; or (2) As to both the person…

(a) In general: No duty owed by secured party. Except as provided in subsection (b) of this section, 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 knows: (A) That the person is a deb…

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. [2000 c 250 s 9A-606.]

(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 performance to or for the benefit of the secured party; (2) May ta…

(a) Application of proceeds, surplus, and deficiency if obligation secured. 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 over for application the cash proceeds of col…

(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 dispose of collateral on a debtor's premises under RCW 62A.9A-610.…

(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 processing. (b) Commercially reasonable disposition. Every…

(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 debtor and any secondary obligor waive the right to notificatio…

(a) Reasonable time is question of fact. Except as otherwise provided in subsection (b) of this section, whether a notification is sent within a reasonable time is a question of fact. (b) Ten-day period sufficient in nonconsumer transaction. In a transaction other than a consumer…

(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: (A) Describes the debtor and the secured party; (B) Describes the collateral that is the…

(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: (A) The information specified in RCW 62A.9A-613(a)(1); (B) A description of any liability for a deficiency …

(a) Application of proceeds. A secured party shall apply or pay over for application the cash proceeds of disposition under RCW 62A.9A-610 in the following order to: (1) The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to th…

(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 this section of how the secured party calculated the surplus or deficiency; (C) States, if…

(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 disposition is made; and (3) Discharges any subordinat…

(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 obligation from the secured party; (2) Receives a transfer of …

(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 party has exercised its post-default remedies…

(a) Conditions to acceptance in satisfaction. A secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: (1) The debtor consents to the acceptance under subsection (c) of this section; (2) The secured party does not receive, within…

(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 other secured party or lienholder that, 10 days before the debtor consented to the acceptan…

(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 party all of a debtor's rights in the 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 secured by the collateral; and (2) The re…

(a) Waiver of disposition notification. A debtor may waive the right to notification of disposition of collateral under RCW 62A.9A-611 only by an agreement to that effect entered into and signed after default. (b) Waiver of mandatory disposition. A debtor may waive the right to r…

(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 of collateral on appropriate terms and conditions. (b) Damages for nonc…

(a) Applicable rules if amount of deficiency or surplus in issue. In an action arising from a 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 with the provisions of this part relating…

(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 acceptance at a different time or in a different method from that selected by…

(a) Limitation of liability of secured party for noncompliance with article. Subject to subsection (f) of this section, 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 secur…

This act takes effect July 1, 2001. [2000 c 250 s 9A-701.]

(a) Preeffective-date transactions or liens. Except as otherwise provided in this section, Article 62A.9A RCW applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (b) Continuing validity. Except as oth…

(a) Continuing priority over lien creditor: Perfection requirements satisfied. A security interest that is enforceable immediately before July 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 u…

A security interest that is enforceable immediately before July 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 security interest for one year after July 1, 2001; (2) Remains enforceable there…

(a) Preeffective-date action; one-year perfection period unless reperfected. If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a l…

(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in RCW 62A.9A-501 continues the effectiveness of a financing statement filed before July 1, 2001, if: (1) The filing of an initial financing sta…

(a) Preeffective-date financing statement. In this section, "preeffective-date financing statement" means a financing statement filed before July 1, 2001. (b) Applicable law. On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate the eff…

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 this part: (A) To continue the effectiveness of a financing statement filed before July 1,…

(a) Law governing priority. Article 62A.9A RCW determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, *Article 62A.9 RCW determines priority. (b) Priority if security interest becomes en…

(a) Continuing perfection: Perfection requirements satisfied. A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under chapter 62A.9A RCW if, on July 1, 2013, the applicable requirements for attachment and p…

A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest: (a) Without further action, on July 1, 2013, if the applicable requirements for perfection under chapter 62A.9A RCW are satisfied before or at that…

(a) Preeffective date filing effective. 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 chapter 62A.9A RCW as of July 1, 2013. (b) When pre…

(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in RCW 62A.9A-501 continues the effectiveness of a financing statement filed before July 1, 2013, if: (1) The filing of an initial financing sta…

(a) "Preeffective date financing statement." For the purposes of this section, "preeffective date financing statement" means a financing statement filed before July 1, 2013. (b) Applicable law. After July 1, 2013, a person may add or delete collateral covered by, continue or term…

A person may file an initial financing statement or a continuation statement under this part if: (a) The secured party of record authorizes the filing; and (b) The filing is necessary under this part: (1) To continue the effectiveness of a financing statement filed before July 1,…

Chapter 74, Laws of 2011 determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2013, chapter 62A.9A RCW as it existed before July 1, 2013, determines priority. [ 2011 c 74 s 608.] Notes: Appl…