§ 34.1-9-627 — Determination of whether conduct was commercially reasonable

Wyoming § 34.1-9-627

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

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(a) The fact that a greater amount could have been
obtained by a collection, enforcement, disposition or acceptance
at a different time or in a different method from that selected
by the secured party is not of itself sufficient to preclude the
secured party from establishing that the collection,
enforcement, disposition or acceptance was made in a
commercially reasonable manner.
(b) A disposition of collateral is made in a commercially
reasonable manner if the disposition is made:
(i) In the usual manner on any recognized market;
(ii) At the price current in any recognized market at
the time of the disposition; or
(iii) Otherwise in conformity with reasonable
commercial practices among dealers in the type of property that
was the subject of the disposition.
(c) A collection, enforcement, disposition or acceptance
is commercially reasonable if it has been approved:
(i) In a judicial proceeding;
(ii) By a bona fide creditors' committee;
(iii) By a representative of creditors; or
(iv) By an assignee for the benefit of creditors.
(d) Approval under subsection (c) need not be obtained,
and lack of approval does not mean that the collection,
enforcement, disposition or acceptance is not commercially
reasonable.