Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 9. SECURED TRANSACTIONS |
Part 6. DEFAULT |
SubPart 2. NONCOMPLIANCE WITH ARTICLE |
Section 9--509. (a); (4) fails to cause the secured party of record to file or send a termination statement as required by Section 9--513 (a), (c), or (e); (5) fails to comply with Section 9--616 (b) (1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or (6) fails to comply with Section 9--616 (b) (2)
Latest version.
-
(f) Statutory damages: noncompliance with Section 9--210. A debtor or consumer obligor may recover damages under subsection (b) and, in addition, five hundred dollars in each case from a person that, without reasonable cause, fails to comply with a request under Section 9--210. A recipient of a request under Section 9--210 which never claimed an interest in the collateral or obligations that are the subject of a request under that section has a reasonable excuse for failure to comply with the request within the meaning of this subsection. (g) Limitation of security interest: noncompliance with Section 9--210. If a secured party fails to comply with a request regarding a list of collateral or a statement of account under Section 9--210, the secured party may claim a security interest only as shown in the list or statement included in the request as against a person that is reasonably misled by the failure.