California Commercial Code

§ 9615

COM § 9615 Effective Jan 1, 2024Div. 9 · Ch. 6

Statute text

(a)A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9610 in the following order to each of the following:

(1)The reasonable expenses of retaking, holding, preparing for disposition, processing, and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney’s fees and legal expenses incurred by the secured party.

(2)The satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made.

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Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 67. (SB 95) Effective January 1, 2024.