Find Laws Find Lawyers Free Legal Forms USA State Laws

HAWAII STATUTES AND CODES

§490:9-627 - Determination of whether conduct was commercially reasonable.

     §490:9-627  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:

     (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) need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable. [L 2000, c 241, pt of §1]

 

Hawaii Forms by Issue

Hawaii Consumer Forms
Hawaii Divorce Forms
Hawaii Family Forms
Hawaii Tax Forms

Hawaii Law

Hawaii State Laws
    > Hawaii Child Support
    > Hawaii Gun Laws
    > Hawaii Statutes
Hawaii State
    > Hawaii State Library
    > Hawaii Zip Code
Hawaii Tax
    > Hawaii State Tax
Hawaii Agencies
    > Hawaii DMV

Hawaii Court Map

Tips