84-9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes. (a) Rights of secured party after default. After default, a secured party has the rights provided in this part and, except as otherwise provided in K.S.A. 2021 Supp. 84-9-602, and amendments thereto, those provided by agreement of the parties. A secured party:
(1) May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and
(2) if the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(b) Rights and duties of secured party in possession or control. A secured party in possession of collateral or control of collateral under K.S.A. 2021 Supp. 84-7-106, and amendments thereto and K.S.A. 2021 Supp. 84-9-104, 84-9-105, 84-9-106 or 84-9-107, and amendments thereto, has the rights and duties provided in K.S.A. 2021 Supp. 84-9-207, and amendments thereto.
(c) Rights cumulative; simultaneous exercise. The rights under subsections (a) and (b) are cumulative and may be exercised simultaneously.
(d) Rights of debtor and obligor. Except as otherwise provided in subsection (g) and K.S.A. 2021 Supp. 84-9-605, and amendments thereto, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(e) Lien of levy after judgment. If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(1) The date of perfection of the security interest or agricultural lien in the collateral;
(2) the date of filing a financing statement covering the collateral; or
(3) any date specified in a statute under which the agricultural lien was created.
(f) Execution sale. A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this article.
(g) Consignor or buyer of certain rights to payment. Except as otherwise provided in K.S.A. 2021 Supp. 84-9-607(c), and amendments thereto, this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
History: L. 2000, ch. 142, § 99; L. 2007, ch. 90, § 77; July 1, 2008.
Structure Kansas Statutes
Chapter 84 - Uniform Commercial Code
Article 9 - Secured Transactions
84-9-102 Definitions and index of definitions.
84-9-103 Purchase-money security interest; application of payments; burden of establishing.
84-9-104 Control of deposit account.
84-9-105 Control of electronic chattel paper.
84-9-106 Control of investment property.
84-9-107 Control of letter-of-credit right.
84-9-108 Sufficiency of description.
84-9-110 Security interests arising under Article 2 or 2a.
84-9-201 General effectiveness of security agreement.
84-9-202 Title to collateral immaterial.
84-9-204 After-acquired property; future advances.
84-9-205 Use or disposition of collateral permissible.
84-9-206 Security interest arising in purchase or delivery of financial asset.
84-9-207 Rights and duties of secured party having possession or control of collateral.
84-9-208 Additional duties of secured party having control of collateral.
84-9-209 Duties of secured party if account debtor has been notified of assignment.
84-9-210 Request for accounting; request regarding list of collateral or statement of account.
84-9-301 Law governing perfection of priority of security interests.
84-9-302 Law governing perfection and priority of agricultural liens.
84-9-304 Law governing perfection and priority of security interests in deposit accounts.
84-9-305 Law governing perfection and priority of security interests in investment property.
84-9-306 Law governing perfection and priority of security interests in letter-of-credit rights.
84-9-308 When security interest or agricultural lien is perfected; continuity of perfection.
84-9-309 Security interest perfected upon attachment.
84-9-313 When possession by or delivery to secured party perfects security interest without filing.
84-9-314 Perfection by control.
84-9-315 Secured party's rights on disposition of collateral and in proceeds.
84-9-316 Continued perfection of security interest following change in governing law.
84-9-317 Interests that take priority over or take free of security interest or agricultural lien.
84-9-319 Rights and title of consignee with respect to creditors and purchasers.
84-9-321 Licensee of general intangible and lessee of goods in ordinary course of business.
84-9-324 Priority of purchase-money security interests.
84-9-325 Priority of security interests in transferred collateral.
84-9-326 Priority of security interests created by new debtor; multiple original debtors.
84-9-327 Priority of security interests in deposit account.
84-9-328 Priority of security interests in investment property.
84-9-329 Priority of security interests in letter-of-credit right.
84-9-330 Priority of purchaser of chattel paper or instrument.
84-9-332 Transfer of money; transfer of funds from deposit account.
84-9-333 Priority of certain liens arising by operation of law.
84-9-334 Priority of security interests in fixtures and crops.
84-9-337 Priority of security interests in goods covered by certificate of title.
84-9-339 Priority subject to subordination.
84-9-340 Effectiveness of right of recoupment or set-off against deposit account.
84-9-341 Bank's rights and duties with respect to deposit account.
84-9-342 Bank's right to refuse to enter into or disclose existence of control agreement.
84-9-401 Alienability of debtor's rights.
84-9-402 Secured party not obligated on contract of debtor or in tort.
84-9-403 Agreement not to assert defenses against assignee.
84-9-404 Rights acquired by assignee; claims and defenses against assignee.
84-9-405 Modification of assigned contract.
84-9-409 Restrictions on assignment of letter-of-credit rights ineffective.
84-9-503 Same; name of debtor.
84-9-504 Indication of collateral.
84-9-506 Effect of errors or omissions.
84-9-508 Effectiveness of financing statement if new debtor becomes bound by security agreement.
84-9-509 Persons entitled to file a record.
84-9-510 Effectiveness of filed record.
84-9-511 Secured party of record.
84-9-512 Amendment of financing statement.
84-9-513 Termination statement.
84-9-514 Assignment of powers of secured party of record.
84-9-516 What constitutes filing; effectiveness of filing.
84-9-517 Effect of indexing errors.
84-9-518 Filing information statements identifying inaccurate or wrongfully filed records; contents.
84-9-520 Acceptance and refusal to accept record.
84-9-521 Written initial financing statement and amendment; form.
84-9-522 Maintenance and destruction of records.
84-9-523 Information from filing office; sale or license of records.
84-9-524 Delay by filing office.
84-9-602 Waiver and variance of rights and duties.
84-9-603 Agreement on standards concerning rights and duties.
84-9-604 Procedure if security agreement covers real property or fixtures.
84-9-605 Unknown debtor or secondary obligor.
84-9-606 Time of default for agricultural lien.
84-9-607 Collection and enforcement by secured party.
84-9-610 Disposition of collateral after default.
84-9-611 Notification before disposition of collateral.
84-9-612 Timelines of notification before disposition of collateral.
84-9-613 Contents and form of notification before disposition of collateral; general.
84-9-615 Application of proceeds of disposition; liability for deficiency and right to surplus.
84-9-616 Explanation of calculation of surplus or deficiency.
84-9-617 Rights of transferee of collateral.
84-9-619 Transfer of record or legal title.
84-9-621 Notification of proposal to accept collateral.
84-9-622 Effect of acceptance of collateral.
84-9-623 Right to redeem collateral.
84-9-625 Judicial remedies for secured party noncompliance; damages.
84-9-627 Determination of whether conduct was commercially reasonable.
84-9-628 Nonliability and limitation on liability of secured party.
84-9-703 Security interest perfected before effective date.
84-9-704 Security interest unperfected before effective date.
84-9-705 Effectiveness of action taken before effective date.
84-9-706 When initial financing statement suffices to continue effectiveness of financing statement.
84-9-707 Pre-effective-date financing statement; applicable law; amendment.
84-9-708 Persons entitled to file initial financing statement or continuation statement.
84-9-801 Specifying sections that are part of article 9 of the uniform act.
84-9-803 Security interest perfected before effective date.
84-9-804 Security interest unperfected before effective date.
84-9-805 Effectiveness of action taken before effective date.
84-9-806 When initial financing statement suffices to continue effectiveness of financing statement.
84-9-807 Amendment of pre-effective date financing statement.
84-9-808 Person entitled to file initial financing statement or continuation statement.