Vermont § 627 - § 9—627.
Full text of Vermont Vermont Statutes Online § 627 — § 9—627., with citation guidance and answers to common questions.
§ 627. § 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) 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
Frequently Asked Questions About Vermont § 627
What does Vermont Statutes Online § 627 cover?
Section 627 ("§ 9—627.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 627?
A common citation format is "Vermont Statutes Online § 627" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 627 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.