Okla. Stat. tit. 12A, § 12A-1-9-627
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-627, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Determination of whether conduct was commercially
Official statutory text
reasonable.
DETERMINATION OF WHETHER CONDUCT
WAS COMMERCIALLY REASONABLE
(a) 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.
(b) A disposition of collateral is made in a commercially
reasonable manner if the disposition is made:
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 159
(1) in the usual manner on any recognized market;
(2) at the price current in any recognized market at the time
of the disposition; or
(3) otherwise in conformity with reasonable commercial
practices among dealers in the type of property that was the subject
of the disposition.
(c) A collection, enforcement, disposition, or acceptance is
commercially reasonable if it has been approved:
(1) in a judicial proceeding;
(2) by a bona fide creditors’ committee;
(3) by a representative of creditors; or
(4) by an assignee for the benefit of creditors.
(d) Approval under subsection (c) of this section need not be
obtained, and lack of approval does not mean that the collection,
enforcement, disposition, or acceptance is not commercially
reasonable.
DETERMINATION OF WHETHER CONDUCT
WAS COMMERCIALLY REASONABLE
(a) 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.
(b) A disposition of collateral is made in a commercially
reasonable manner if the disposition is made:
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 159
(1) in the usual manner on any recognized market;
(2) at the price current in any recognized market at the time
of the disposition; or
(3) otherwise in conformity with reasonable commercial
practices among dealers in the type of property that was the subject
of the disposition.
(c) A collection, enforcement, disposition, or acceptance is
commercially reasonable if it has been approved:
(1) in a judicial proceeding;
(2) by a bona fide creditors’ committee;
(3) by a representative of creditors; or
(4) by an assignee for the benefit of creditors.
(d) Approval under subsection (c) of this section need not be
obtained, and lack of approval does not mean that the collection,
enforcement, disposition, or acceptance is not commercially
reasonable.
Status: in_force · Read it on the official government site
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