The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 9-627)
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§ 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.)