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Tenn. Code Ann. § 47-9-625

Remedies for secured party's failure to comply with chapter

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Applied in 5 court decisions — leading case Auto Credit of Nashville v. Wimmer (2007)

Most recently applied in Regions Bank v. Thomas D. Thomas (March 2013)

Acts 2000, ch. 846, § 1.

How often courts cite this section

20042010201310
citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) Judicial orders concerning noncompliance. If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions.

(2) Damages for noncompliance. Subject to subsections (c), (d), and (f), a person is liable for damages in the amount of any loss caused by a failure to comply with this chapter. Loss caused by a failure to comply may include loss resulting from the debtor's inability to obtain, or increased costs of, alternative financing.

(3) Persons entitled to recover damages; statutory damages in consumer-goods transaction. Except as otherwise provided in § 47-9-628: a person that, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under subsection (b) for its loss; and

(4) if the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus ten percent (10%) of the principal amount of the obligation or the time-price differential plus ten percent (10%) of the cash price.

(5) Recovery when deficiency eliminated or reduced. A debtor whose deficiency is eliminated under § 47-9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under § 47-9-626 may not otherwise recover under subsection (b) for noncompliance with this part relating to collection, enforcement, disposition, or acceptance.

(6) Statutory damages: noncompliance with specified provisions. In addition to any damages recoverable under subsection (b), the debtor, consumer obligor, or person named as a debtor in a filed record, as applicable, may recover five hundred dollars ($500) in each case from a person that: fails to comply with § 47-9-208;

(7) fails to comply with § 47-9-209;

(8) files a record that the person is not entitled to file under § 47-9-509(a) and fails to file a termination statement within ten (10) days after receiving an authenticated demand;

(9) fails to cause the secured party of record to file or send a termination statement; as required by § 47-9-513(a) within ten (10) days after receiving an authenticated demand or

(10) as required by § 47-9-513 (c);

(11) fails to comply with § 47-9-616(b)(1) and whose failure is part of a pattern, or consistent with a practice, of noncompliance; or

(12) fails to comply with § 47-9-616(b)(2).

(13) Statutory damages: noncompliance with § 47-9-210. A debtor or consumer obligor may recover damages under subsection (b) and, in addition, five hundred dollars ($500) in each case from a person that, without reasonable cause, fails to comply with a request under § 47-9-210. A recipient of a request under § 47-9-210 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 (f).

(14) Limitation of security interest: noncompliance with § 47-9-210. If a secured party fails to comply with a request regarding a list of collateral or a statement of account under § 47-9-210, 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.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.