Okla. Stat. tit. 12A, § 12A-1-9-626: Action in which deficiency or surplus is in issue

ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE

(a) In an action arising from a transaction, other than a

consumer transaction, in which the amount of a deficiency or surplus

is in issue, the following rules apply:

(1) A secured party need not prove compliance with the

provisions of this part relating to collection, enforcement,

disposition, or acceptance unless the debtor or a secondary obligor

places the secured party’s compliance in issue.

(2) If the secured party’s compliance is placed in issue, the

secured party has the burden of establishing that the collection,

enforcement, disposition, or acceptance was conducted in accordance

with this part.

(3) Except as otherwise provided in Section 1-9-628 of this

title, if a secured party fails to prove that the collection,

enforcement, disposition, or acceptance was conducted in accordance

with the provisions of this part relating to collection,

enforcement, disposition, or acceptance, the liability of a debtor

or a secondary obligor for a deficiency is limited to an amount by

which the sum of the secured obligation, expenses, and attorney’s

fees exceeds the greater of:

(A) the proceeds of the collection, enforcement,

disposition, or acceptance; or

(B) the amount of proceeds that would have been realized

had the noncomplying secured party proceeded in

accordance with the provisions of this part relating

to collection, enforcement, disposition, or

acceptance.

(4) For purposes of subparagraph (B) of paragraph (3) of this

subsection, the amount of proceeds that would have been realized is

equal to the sum of the secured obligation, expenses, and attorney’s

fees unless the secured party proves that the amount is less than

that sum.

(5) If a deficiency or surplus is calculated under subsection

(f) of Section 1-9-615 of this title, the debtor or obligor has the

burden of establishing that the amount of proceeds of the

disposition is significantly below the range of prices that a

complying disposition to a person other than the secured party, a

person related to the secured party, or a secondary obligor would

have brought.

(b) The limitation of the rules in subsection (a) of this

section to transactions other than consumer transactions is intended

to leave to the court the determination of the proper rules in

consumer transactions. The court may not infer from that limitation

the nature of the proper rule in consumer transactions and may

continue to apply established approaches.