N.Y. UCC Law § 9-626

Section 9--626. Action in Which Deficiency or Surplus is in Issue.\n (a) Applicable rules if amount of deficiency or surplus is in issue.\nIn an action arising from a transaction, other than a consumer\ntransaction, in which the amount of a deficiency or surplus is in issue,\nthe following rules apply:\n (1) A secured party need not prove compliance with the provisions\n of this part relating to collection, enforcement,\n disposition, or acceptance unless the debtor or a secondary\n obligor places the secured party's compliance in issue.\n (2) If the secured party's compliance is placed in issue, the\n secured party has the burden of establishing that the\n collection, enforcement, disposition, or acceptance was\n conducted in accordance with this part.\n (3) Except as otherwise provided in Section 9--628, if a secured\n party fails to prove that the collection, enforcement,\n disposition, or acceptance was conducted in accordance with\n the provisions of this part relating to collection,\n enforcement, disposition, or acceptance, the liability of a\n debtor or a secondary obligor for a deficiency is limited to\n an amount by which the sum of the secured obligation,\n expenses, and attorney's fees exceeds the greater of:\n (A) the proceeds of the collection, enforcement, disposition,\n or acceptance; or\n (B) the amount of proceeds that would have been realized had\n the noncomplying secured party proceeded in accordance\n with the provisions of this part relating to collection,\n enforcement, disposition, or acceptance.\n (4) For purposes of paragraph (3)(B), the amount of proceeds that\n would have been realized is equal to the sum of the secured\n obligation, expenses, and attorney's fees unless the secured\n party proves that the amount is less than that sum.\n (5) If a deficiency or surplus is calculated under Section\n 9--615(f), the debtor or obligor has the burden of\n establishing that the amount of proceeds of the disposition\n is significantly below the range of prices that a complying\n disposition to a person other than the secured party, a\n person related to the secured party, or a secondary obligor\n would have brought.\n (b) Non-consumer transactions; no inference. The limitation of the\nrules in subsection (a) to transactions other than consumer transactions\nis intended to leave to the court the determination of the proper rules\nin consumer transactions. The court may not infer from that limitation\nthe nature of the proper rule in consumer transactions and may continue\nto apply established approaches.\n