UCC 9-625. Remedies for secured party’s failure to comply with article
(1) 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) Subject to subsections (3), (4) and (6) of this section, 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) Except as otherwise provided in ORS 79.0628 (UCC 9-628. Nonliability and limitation on liability of secured party):
(a) 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, in an individual action only, recover damages under subsection (2) of this section for its loss;
(b) 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 ORS 79.0601 (UCC 9-601. Rights after default) to 79.0628 (UCC 9-628. Nonliability and limitation on liability of secured party) may, in an individual action only, recover an amount not less than $1,000; and
(c) The court may award reasonable attorney fees to the prevailing party in an action under this subsection.
(4) A debtor whose deficiency is eliminated under ORS 79.0626 (UCC 9-626. Action in which deficiency or surplus is in issue) may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under ORS 79.0626 (UCC 9-626. Action in which deficiency or surplus is in issue) may not otherwise recover under subsection (2) of this section for noncompliance with the provisions of ORS 79.0601 (UCC 9-601. Rights after default) to 79.0628 (UCC 9-628. Nonliability and limitation on liability of secured party) relating to collection, enforcement, disposition or acceptance.
(5) Regarding a transaction that is a consumer transaction or in which the collateral is consumer goods, in addition to any damages recoverable under subsection (2) of this section, the debtor, consumer obligor, or person named as a debtor in a filed record, as applicable, may, in an individual action only, recover $500 for each instance from a person that:
(a) Fails to comply with ORS 79.0208 (UCC 9-208. Additional duties of secured party having control of collateral);
(b) Fails to comply with ORS 79.0209 (UCC 9-209. Duties of secured party if account debtor has been notified of assignment);
(c) After July 1, 2001, files a record that the person is not entitled to file under ORS 79.0509 (UCC 9-509. Persons entitled to file a record) (1) if the record is not released or terminated within 10 days after receipt by the secured party of an authenticated request from the debtor that explains the basis for the request;
(d) Fails to cause the secured party of record to file or send a termination statement as required by ORS 79.0513 (UCC 9-513. Termination statement) (1) or (3); or
(e) Fails to comply with ORS 79.0616 (UCC 9-616. Explanation of calculation of surplus or deficiency) (2) and whose failure is part of a pattern, or consistent with a practice, of noncompliance.
(6) A debtor or consumer obligor may recover damages under subsection (2) of this section and, in addition, $500 in each case from a person that, without reasonable cause, fails to comply with a request under ORS 79.0210 (UCC 9-210. Request for accounting). A recipient of a request under ORS 79.0210 (UCC 9-210. Request for accounting) which never claimed an interest in the collateral or obligations that are the subject of a request under ORS 79.0210 (UCC 9-210. Request for accounting) has a reasonable excuse for failure to comply with the request within the meaning of this subsection.
(7) If a secured party fails to comply with a request regarding a list of collateral or a statement of account under ORS 79.0210 (UCC 9-210. Request for accounting), 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. [2001 c.445 §123]
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