Massachusetts General Laws
Article 9 - Secured Transactions
Section 9-607 - Collection and Enforcement by Secured Party

Section 9–607. (a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party:
(1) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party;
(2) may take any proceeds to which the secured party is entitled under Section 9–315;
(3) may enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral;
(4) if it holds a security interest in a deposit account perfected by control under Section 9–104(a)(1), may apply the balance of the deposit account to the obligation secured by the deposit account; and
(5) if it holds a security interest in a deposit account perfected by control under Section 9–104(a)(2) or (3), may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party.
(b) Nonjudicial enforcement of mortgage. If necessary to enable a secured party to exercise under subsection (a)(3) the right of a debtor to enforce a mortgage nonjudicially, the secured party may record in the office in which a record of the mortgage is recorded:
(1) a copy of the security agreement that creates or provides for a security interest in the obligation secured by the mortgage; and
(2) the secured party's sworn affidavit in recordable form stating that:
(A) a default has occurred with respect to the obligation secured by the mortgage; and
(B) the secured party is entitled to enforce the mortgage nonjudicially.
(c) Commercially reasonable collection and enforcement. A secured party shall proceed in a commercially reasonable manner if the secured party:
(1) undertakes to collect from or enforce an obligation of an account debtor or other person obligated on collateral; and
(2) is entitled to charge back uncollected collateral or otherwise to full or limited recourse against the debtor or a secondary obligor.
(d) Expenses of collection and enforcement. A secured party may deduct from the collections made pursuant to subsection (c) reasonable expenses of collection and enforcement, including reasonable attorney's fees and legal expenses incurred by the secured party.
(e) Duties to secured party not affected. This section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party.

Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XV - Regulation of Trade

Chapter 106 - Uniform Commercial Code

Article 9 - Secured Transactions

Section 9-338 - Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information

Section 9-403 - Agreement Not to Assert Defenses Against Assignee

Section 9-402 - Secured Party Not Obligated on Contract of Debtor or in Tort

Section 9-401 - Alienability of Debtor's Rights

Section 9-342 - Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement

Section 9-341 - Bank's Rights and Duties With Respect to Deposit Account

Section 9-340 - Effectiveness of Right of Recoupment or Set-Off Against Deposit Account

Section 9-337 - Priority of Security Interests in Goods Covered by Certificate of Title

Section 9-332 - Transfer of Money; Transfer of Funds From Deposit Account

Section 9-335 - Accessions

Section 9-334 - Priority of Security Interests in Fixtures and Crops

Section 9-333 - Priority of Certain Liens Arising by Operation of Law

Section 9-404 - Rights Acquired by Assignee; Claims and Defenses Against Assignee

Section 9-331 - Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article 8

Section 9-330 - Priority of Purchaser of Chattel Paper or Instrument

Section 9-329 - Priority of Security Interests in Letter-of-Credit Right

Section 9-328 - Priority of Security Interests in Investment Property

Section 9-336 - Commingled Goods

Section 9-405 - Modification of Assigned Contract

Section 9-501 - Filing Office

Section 9-407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest

Section 9-516 - What Constitutes Filing; Effectiveness of Filing

Section 9-515 - Duration and Effectiveness of Financing Statement; Effect of Lapsed Financing Statement

Section 9-514 - Assignment of Powers of Secured Party of Record

Section 9-513 - Termination Statement

Section 9-512 - Amendment of Financing Statement

Section 9-511 - Secured Party of Record

Section 9-510 - Effectiveness of Filed Record

Section 9-509 - Persons Entitled to File a Record

Section 9-508 - Effectiveness of Financing Statement if New Debtor Becomes Bound by Security Agreement

Section 9-507 - Effect of Certain Events on Effectiveness of Financing Statement

Section 9-506 - Effect of Errors or Omissions

Section 9-505 - Filing and Compliance With Other Statutes and Treaties for Consignments, Leases, Other Bailments, and Other Transactions

Section 9-504 - Indication of Collateral

Section 9-503 - Name of Debtor and Secured Party

Section 9-502 - Contents of Financing Statement; Record of Mortgage as Financing Statement; Time of Filing Financing Statement

Section 9-327 - Priority of Security Interests in Deposit Account

Section 9-409 - Restrictions on Assignment of Letter–of–credit Rights Ineffective

Section 9-408 - Restrictions on Assignment of Promissory Notes, Health–care–insurance Receivables, and Certain General Intangibles Ineffective

Section 9-406 - Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper, Payment Intangibles, and Promissory Notes Ineffective

Section 9-326 - Priority of Security Interests Created by New Debtor

Section 9-320 - Buyer of Goods

Section 9-324 - Priority of Purchase-Money Security Interests

Section 9-209 - Duties of Secured Party if Account Debtor Has Been Notified of Assignment

Section 9-208 - Additional Duties of Secured Party Having Control of Collateral

Section 9-207 - Rights and Duties of Secured Party Having Possession or Control of Collateral

Section 9-206 - Security Interest Arising in Purchase or Delivery of Financial Asset

Section 9-205 - Use or Disposition of Collateral Permissible

Section 9-204 - After–acquired Property; Future Advances

Section 9-203 - Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites

Section 9-202 - Title to Collateral Immaterial

Section 9-201 - General Effectiveness of Security Agreement

Section 9-110 - Security Interests Arising Under Article 2 or 2a

Section 9-109 - Scope

Section 9-108 - Sufficiency of Description

Section 9-107 - Control of Letter-of-Credit Right

Section 9-106 - Control of Investment Property

Section 9-105 - Control of Electronic Chattel Paper

Section 9-104 - Control of Deposit Account

Section 9-103 - Purchase-Money Security Interest; Application of Payments; Burden of Establishing

Section 9-102 - Definitions and Index of Definitions

Section 9-101 - Short Title

Section 9-210 - Request for Accounting; Request Regarding List of Collateral or Statement of Account

Section 9-325 - Priority of Security Interests in Transferred Collateral

Section 9-301 - Law Governing Perfection and Priority of Security Interests

Section 9-303 - Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title

Section 9-323 - Future Advances

Section 9-322 - Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral

Section 9-321 - License of General Intangible and Lessee of Goods in Ordinary Course of Business

Section 9-319 - Rights and Title of Consignee With Respect to Creditors and Purchasers

Section 9-318 - No Interest Retained in Right to Payment That Is Sold; Rights and Title of Seller of Account or Chattel Paper With Respect to Creditors and Purchasers

Section 9-317 - Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien

Section 9-316 - Continued Perfection of Security Interest Following Change in Governing Law

Section 9-315 - Secured Party's Rights on Disposition of Collateral and in Proceeds

Section 9-314 - Perfection by Control

Section 9-517 - Effect of Indexing Errors

Section 9-312 - Perfection of Security Interests in Chattel Paper, Deposit Accounts, Documents, Goods Covered by Documents, Instruments, Investment Property, Letter–of–credit Rights, and Money; Perfection by Permissive Filing; Temporary P...

Section 9-311 - Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties

Section 9-310 - When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply

Section 9-309 - Security Interest Perfected Upon Attachment

Section 9-308 - When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection

Section 9-307 - Location of Debtor

Section 9-306 - Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights

Section 9-305 - Law Governing Perfection and Priority of Security Interests in Investment Property

Section 9-304 - Law Governing Perfection and Priority of Security Interests in Deposit Accounts

Section 9-302 - Law Governing Perfection and Priority of Agricultural Liens

Section 9-313 - When Possession by or Delivery to Secured Party Perfects Security Interest Without Filing

Section 9-519 - Numbering, Maintaining, and Indexing Records; Communicating Information Provided in Records

Section 9-520 - Acceptance and Refusal to Accept Record

Section 9-623 - Right to Redeem Collateral

Section 9-624 - Waiver

Section 9-625 - Remedies for Secured Party's Failure to Comply With Article

Section 9-626 - Action in Which Deficiency or Surplus Is in Issue

Section 9-627 - Determination of Whether Conduct Was Commercially Reasonable

Section 9-628 - Nonliability and Limitation on Liability of Secured Party; Liability of Secondary Obligor

Section 9-701 - Effective Date

Section 9-702 - Savings Clause

Section 9-703 - Security Interest Perfected Before Effective Date

Section 9-704 - Security Interest Unperfected Before Effective Date

Section 9-705 - Effectiveness of Action Taken Before Effective Date

Section 9-706 - When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement

Section 9-707 - Amendment of Pre-Effective-Date Financing Statement

Section 9-708 - Persons Entitled to File Initial Financing Statement or Continuation Statement

Section 9-709 - Priority

Section 9-801 - Effective Date

Section 9-802 - Savings Clause

Section 9-803 - Security Interest Perfected Before Effective Date

Section 9-804 - Security Interest Unperfected Before Effective Date

Section 9-805 - Effectiveness of Action Taken Before Effective Date

Section 9-806 - When Initial Financing Statement Suffices to Continue Effectiveness of Financing Statement

Section 9-807 - Amendment of Pre–effective Date Financing Statement

Section 9-808 - Person Entitled to File Initial Financing Statement or Continuation Statement

Section 9-809 - Priority

Section 9-518 - Claim Concerning Inaccurate or Wrongfully Filed Record

Section 9-622 - Effect of Acceptance of Collateral

Section 9-621 - Notification of Proposal to Accept Collateral

Section 9-339 - Priority Subject to Subordination

Section 9-619 - Transfer of Record or Legal Title

Section 9-620 - Acceptance of Collateral in Full or Partial Satisfaction of Obligation; Compulsory Disposition of Collateral

Section 9-522 - Maintenance and Destruction of Records

Section 9-523 - Information From Filing Office; Sale or License of Records

Section 9-524 - Delay by Filing Office

Section 9-525 - Fees

Section 9-526 - Filing–office Rules

Section 9-601 - Rights After Default; Judicial Enforcement; Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes

Section 9-602 - Waiver and Variance of Rights and Duties

Section 9-603 - Agreement on Standards Concerning Rights and Duties

Section 9-604 - Procedure if Security Agreement Covers Real Property or Fixtures

Section 9-605 - Unknown Debtor or Secondary Obligor

Section 9-606 - Time of Default for Agricultural Lien

Section 9-521 - Uniform Form of Written Financing Statement and Amendment

Section 9-608 - Application of Proceeds of Collection or Enforcement; Liability for Deficiency and Right to Surplus

Section 9-607 - Collection and Enforcement by Secured Party

Section 9-618 - Rights and Duties of Certain Secondary Obligors

Section 9-617 - Rights of Transferee of Collateral

Section 9-616 - Explanation of Calculation of Surplus or Deficiency

Section 9-615 - Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus

Section 9-613 - Contents and Form of Notification Before Disposition of Collateral: General

Section 9-612 - Timeliness of Notification Before Disposition of Collateral

Section 9-611 - Notification Before Disposition of Collateral

Section 9-610 - Disposition of Collateral After Default

Section 9-614 - Contents and Form of Notification Before Disposition of Collateral: Consumer–goods Transaction

Section 9-609 - Secured Party's Right to Take Possession After Default