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Session Laws, 1999
Volume 796, Page 2120   View pdf image
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(1) 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

(2) TO A SECURED PARTY OR LIENHOLDER THAT HAS FILED A
FINANCING STATEMENT AGAINST A PERSON, UNLESS THE SECURED PARTY KNOWS:

(A) THAT THE PERSON IS A DEBTOR; AND

(B) THE IDENTITY OF THE PERSON.
9-606. TIME OF DEFAULT FOR AGRICULTURAL LIEN.

FOR PURPOSES OF THIS SUBTITLE, 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.

9-607. COLLECTION AND ENFORCEMENT BY SECURED PARTY.

(A) 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 TAKE ANY PROCEEDS TO WHICH THE SECURED PARTY IS
ENTITLED UNDER § 9-315;

(3) MAY ENFORCE THE OBLIGATIONS OF AN ACCOUNT DEBTOR OR
OTHER PERSON OBLIGATED ON COLLATERAL AND EXERCISE THE RIGHTS OF THE
DEBTOR WITH RESPECT TO THE OBLIGATION OF THE ACCOUNT DEBTOR OR OTHER
PERSON OBLIGATED ON COLLATERAL TO MAKE PAYMENT OR OTHERWISE RENDER
PERFORMANCE TO THE DEBTOR, AND WITH RESPECT TO ANY PROPERTY THAT
SECURES THE OBLIGATIONS OF THE ACCOUNT DEBTOR OR OTHER PERSON
OBLIGATED ON THE COLLATERAL;

(4) IF IT HOLDS A SECURITY INTEREST IN A DEPOSIT ACCOUNT
PERFECTED BY CONTROL UNDER § 9-104(A)(1), MAY APPLY THE BALANCE OF THE
DEPOSIT ACCOUNT TO THE OBLIGATION SECURED BY THE DEPOSIT ACCOUNT; AND

(5) IF IT HOLDS A SECURITY INTEREST IN A DEPOSIT ACCOUNT
PERFECTED BY CONTROL UNDER § 9-104(A)(2) OR (3), MAY INSTRUCT THE BANK TO
PAY THE BALANCE OF THE DEPOSIT ACCOUNT TO OR FOR THE BENEFIT OF THE
SECURED PARTY.

(B) IF NECESSARY TO ENABLE A SECURED PARTY TO EXERCISE UNDER
SUBSECTION (A)(3) THE RIGHT OF A DEBTOR TO ENFORCE A MORTGAGE

 

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Session Laws, 1999
Volume 796, Page 2120   View pdf image
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