LD 2245
pg. 434
Page 433 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 435 of 493
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LR 1087
Item 1

 
accounting or a request regarding a list of collateral or
statement of account under Section 9-210 [Maine cite section 9-
1210]. However, under subsection (f) [Maine cite subsection
(6)], a person has a reasonable excuse for the failure if the
person never claimed an interest in the collateral or obligations
that were the subject of the request.

 
6. Estoppel. Subsection (g) [Maine cite subsection (7)]
limits the extent to which a secured party who fails to comply
with a request regarding a list of collateral or statement of
account may claim a security interest.

 
§9-1626.__Action in which deficiency or surplus is in issue

 
(1)__In an action arising from a transaction, other than a
consumer transaction, in which the amount of a deficiency or
surplus is in issue, the following rules apply.

 
(a)__A secured party need not prove compliance with the
provisions of this part relating to collection, enforcement,
disposition or acceptance unless the debtor or a secondary
obligor places the secured party's compliance in issue.

 
(b)__If the secured party's compliance is placed in issue,
the secured party has the burden of establishing that the
collection, enforcement, disposition or acceptance was
conducted in accordance with this part.

 
(c)__Except as otherwise provided in section 9-1628, if a
secured party fails to prove that the collection,
enforcement, disposition or acceptance was conducted in
accordance with the provisions of this part relating to
collection, enforcement, disposition or acceptance, the
liability of a debtor or a secondary obligor for a
deficiency is limited to an amount by which the sum of the
secured obligation, expenses and attorney's fees exceeds the
greater of:

 
(i)__The proceeds of the collection, enforcement,
disposition or acceptance; or

 
(ii)__The amount of proceeds that would have been
realized had the noncomplying secured party proceeded
in accordance with the provisions of this part relating
to collection, enforcement, disposition or acceptance.

 
(d)__For purposes of paragraph (c), subparagraph (ii), the
amount of proceeds that would have been realized is equal to
the sum of the secured obligation, expenses and attorney's


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