16a-5-109. (UCCC) Default. An agreement of the parties to a consumer credit transaction with respect to default on the part of the consumer is enforceable only to the extent that:
(1) The consumer fails to make a payment as required by agreement; or
(2) the prospect of payment, performance, or realization of collateral is significantly impaired; the burden of establishing the prospect of significant impairment is on the creditor.
History: L. 1973, ch. 85, ยง 85; January 1, 1974.
Structure Kansas Statutes
Chapter 16a - Consumer Credit Code
Article 5 - Remedies And Penalties
16a-5-103 (UCCC) Restrictions on deficiency judgments.
16a-5-107 (UCCC) Extortionate extensions of credit.
16a-5-108 (UCCC) Unconscionability; inducement by unconscionable conduct.
16a-5-110 (UCCC) Notice of consumer's right to cure.
16a-5-111 (UCCC) Cure of default.
16a-5-112 (UCCC) Creditor's right to take possession after default.
16a-5-201 (UCCC) Effect of violations on rights of parties.
16a-5-202 (UCCC) Refunds and penalties as setoff to obligation.
16a-5-203 (UCCC) Civil liability for violation of disclosure provisions.