Maine Revised Statutes

Me. Rev. Stat. tit. 11, § 9-504 (2026)

Secured party's right to dispose of collateral after default; effect of disposition

✓ current as of May 2026
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(REPEALED)
SECTION HISTORY
PL 1965, c. 306, §§29-A (AMD). PL 1977, c. 526, §§99-101 (AMD). PL 1999, c. 699, §A1 (RP). PL 1999, c. 699, §A4 (AFF).
Notes of Decisions
Cited in 20 cases, 1973–2001 · leading case: Richardson v. McConologue, 672 A.2d 599 (Me. 1996).
Richardson v. McConologue, 672 A.2d 599 (Me. 1996). · cites it 3× “” The McConologues defend the action and contest the Richardsons’ motion for attachment, claiming that they had no personal liability under either the note or mortgage referred to in the “work out agreement” and that the Richardsons’ recovery under the agreement was barred by…”
Ocean Nat'l Bank of Kennebunk v. Odell, 444 A.2d 422 (Me. 1982). · cites it 2× “Attorneys’ Fees Under 11 M.R.S.A. § 9-504(1), the proceeds from the disposition of collateral may be applied to reasonable attorneys’ fees, “to the extent provided for in the agreement and not prohibited by law.”
Diversified Foods, Inc. v. First Nat'l Bank of Boston, 605 A.2d 609 (Me. 1992). “The Borrowers contend that they have raised genuine issues of material fact as to whether the Banks violated the Article 9 duty of good faith. However, they have failed to mention any provision of Article 9 which might have been violated.”
Hilltop Cmty. Sports Ctr., Inc. v. Hoffman, 2000 ME 130 (Me. 2000). · cites it 2× “[¶ 15] At the trial, Hilltop had the burden of establishing, as a condition precedent for obtaining a deficiency judgment, that it provided proper notification to the Morins, pursuant to 11 M.R.S.A. § 9-504(3) (1995). 1 See Camden Nat’l Bank v.”
In Re Davis, 14 B.R. 226 (Bankr. D. Me. 1981). · cites it 2× “11 M.R.S.A. § 9-504(2) provides: (2) If the security interest secures an indebtedness, the secured party must account to the debtor for any surplus, and unless otherwise agreed, the debtor is liable for any deficiency.”
In Re K.P. Enter., 135 B.R. 174 (Bankr. D. Me. 1992). “See 11 M.R.S.A. § 9-504(3). 30 . 11 U.S.C. § 544 .”
Union Trust Co. of Ellsworth v. Hardy, 400 A.2d 384 (Me. 1979). · cites it 2× “In his answer defendant debtor resisted the claim, asserting that plaintiff’s failure to afford him notification of the intended sale of the collateral, as mandated by 11 M.R.S.A. § 9-504(3) (1964), required that plaintiff be denied recovery of the deficiency.”
Camden Nat'l Bank v. St. Clair, 309 A.2d 329 (Me. 1973). “The evidence adduced at trial was not sufficient to establish that plaintiff bank had complied with the notification requirements of the Uniform Commercial Code as embodied in 11 M.R.S.A. § 9-504 (3). (The provisions of the Uniform Commercial Code as contained in Title 11 of the…”
People's Heritage Sav. Bank v. Recoll Mgmt., Inc., 814 F. Supp. 159 (D. Me. 1993). “11 See 11 M.R.S.A. § 9-504(3). Black’s Law Dictionary 376 (5th ed.”
Peoples Heritage Sav. Bank v. Theriault, 670 A.2d 1391 (Me. 1996). · cites it 4× “The Theriaults contend that the court erred in granting a summary judgment in favor of Peoples because Peoples failed to notify the Theriaults of its sale of a tractor pledged as security for the same debt as that secured by the mortgage, a violation of the notice provision of…”
Fruehauf Corp. v. Sherman (In Re Gringeri Bros. Transp. Co.), 14 B.R. 396 (Bankr. D. Mass. 1981). “See, 11 M.R.S.A. § 9-504; N.C. G.S. § 25-9-504; See also, G.”
Ford Motor Credit Co. v. Thompson Mach., Inc., 649 A.2d 19 (Me. 1994). “Unless collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, reasonable notification of the time and place of any public sale or other intended disposition is to be made shall be sent by the secured party to…”
— Me. Rev. Stat. tit. 11, § 9-504(1) — 1 case
Ocean Nat'l Bank of Kennebunk v. Odell, 444 A.2d 422 (Me. 1982). “Attorneys’ Fees Under 11 M.R.S.A. § 9-504(1), the proceeds from the disposition of collateral may be applied to reasonable attorneys’ fees, “to the extent provided for in the agreement and not prohibited by law.”
— Me. Rev. Stat. tit. 11, § 9-504(2) — 2 cases
In Re Davis, 14 B.R. 226 (Bankr. D. Me. 1981). “11 M.R.S.A. § 9-504(2) provides: (2) If the security interest secures an indebtedness, the secured party must account to the debtor for any surplus, and unless otherwise agreed, the debtor is liable for any deficiency.”
Newcombe v. Mooers (Me. Super. Ct 2000).
— Me. Rev. Stat. tit. 11, § 9-504(3) — 16 cases
Richardson v. McConologue, 672 A.2d 599 (Me. 1996). “” The McConologues defend the action and contest the Richardsons’ motion for attachment, claiming that they had no personal liability under either the note or mortgage referred to in the “work out agreement” and that the Richardsons’ recovery under the agreement was barred by…”
Hilltop Cmty. Sports Ctr., Inc. v. Hoffman, 2000 ME 130 (Me. 2000). “[¶ 15] At the trial, Hilltop had the burden of establishing, as a condition precedent for obtaining a deficiency judgment, that it provided proper notification to the Morins, pursuant to 11 M.R.S.A. § 9-504(3) (1995). 1 See Camden Nat’l Bank v.”
In Re K.P. Enter., 135 B.R. 174 (Bankr. D. Me. 1992). “See 11 M.R.S.A. § 9-504(3). 30 . 11 U.S.C. § 544 .”
Union Trust Co. of Ellsworth v. Hardy, 400 A.2d 384 (Me. 1979). “In his answer defendant debtor resisted the claim, asserting that plaintiff’s failure to afford him notification of the intended sale of the collateral, as mandated by 11 M.R.S.A. § 9-504(3) (1964), required that plaintiff be denied recovery of the deficiency.”
Ocean Nat'l Bank of Kennebunk v. Odell, 444 A.2d 422 (Me. 1982). “Attorneys’ Fees Under 11 M.R.S.A. § 9-504(1), the proceeds from the disposition of collateral may be applied to reasonable attorneys’ fees, “to the extent provided for in the agreement and not prohibited by law.”
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