This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, pertains to the collection and enforcement rights of a secured party. It outlines the actions a secured party can take, such as notifying an account debtor or other obligated person to make payment or perform obligations, enforcing obligations, and exercising debtor’s rights. The document also covers the application of deposit account balances, nonjudicial enforcement of mortgages, commercially reasonable collection and enforcement, and the deduction of expenses.

This legal document, part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically falls under the Uniform Commercial Code. It governs the application of proceeds, surplus, and deficiency when a security interest or agricultural lien secures payment or performance of an obligation. The document outlines the order in which a secured party should apply or pay over the cash proceeds of collection or enforcement, including reasonable expenses, satisfaction of obligations secured by the security interest or agricultural lien, and satisfaction of obligations secured by any subordinate security interest or lien.

(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 section 336.9-610 . (b) Judicial and nonjudicial process. A secured party may proceed under subsection (a): (1) pursuant to judicial process; or (2) without judicial process, if it proceeds without breach of the peace.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, addresses the disposition of collateral after default. It allows a secured party to sell, lease, license, or otherwise dispose of the collateral in its present condition or after reasonable preparation or processing. The disposition must be commercially reasonable, considering factors such as method, manner, time, place, and terms. The secured party can use public or private proceedings, contracts, and can purchase the collateral themselves under certain conditions.

This legal document, governed by the Uniform Commercial Code under the Trade Regulations and Consumer Protection section of the Minnesota Statutes, establishes the requirement for secured parties to provide notification before disposing of collateral. The notification date is defined as the date on which the secured party sends an authenticated notification of disposition to the debtor and any secondary obligor, or when the debtor and any secondary obligor waive the right to notification.

(a) Reasonable time is question of fact. Except as otherwise provided in subsection (b), 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 transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.

This legal document governs the contents and form of notification before the disposition of collateral, specifically in non-consumer goods transactions. The document outlines the requirements for a notification of disposition, including the necessary information that must be included such as the description of the debtor and secured party, collateral subject to disposition, method of intended disposition, entitlement to an accounting of unpaid indebtedness, and time and place of public or other disposition.

This legal document governs the contents and form of notification before the disposition of collateral in consumer goods transactions. It applies to parties involved in such transactions. The document specifies the information that must be included in the notification, such as details about the collateral, liability for deficiency, contact information for redemption, and additional information about the disposition and the secured obligation. The document provides a suggested form of notification that includes the necessary information.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the application of proceeds from the disposition of collateral, liability for deficiency, and the right to surplus. It applies to secured parties, holders of subordinate security interests or other liens, debtors, and obligors. The document outlines the order in which cash proceeds of disposition should be applied, including expenses, satisfaction of obligations secured by the security interest or agricultural lien, and satisfaction of obligations secured by subordinate security interests or other liens.

This legal document governs the calculation of surplus or deficiency in consumer goods transactions. It applies to secured parties, debtors, and consumer obligors involved in such transactions. The document defines the term ’explanation’ as a writing that states the amount of the surplus or deficiency, provides an explanation of how it was calculated, mentions the possibility of future debits, credits, charges, and provides contact information for additional transaction details. A ‘request’ is defined as a record authenticated by a debtor or consumer obligor, requesting an explanation after the disposition of collateral.