{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-626","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-626","heading":"Action in which deficiency or surplus is in issue","body":"ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE\n\n(a) In an action arising from a transaction, other than a\n\nconsumer transaction, in which the amount of a deficiency or surplus\n\nis in issue, the following rules apply:\n\n(1) A secured party need not prove compliance with the\n\nprovisions of this part relating to collection, enforcement,\n\ndisposition, or acceptance unless the debtor or a secondary obligor\n\nplaces the secured party’s compliance in issue.\n\n(2) If the secured party’s compliance is placed in issue, the\n\nsecured party has the burden of establishing that the collection,\n\nenforcement, disposition, or acceptance was conducted in accordance\n\nwith this part.\n\n(3) Except as otherwise provided in Section 1-9-628 of this\n\ntitle, if a secured party fails to prove that the collection,\n\nenforcement, disposition, or acceptance was conducted in accordance\n\nwith the provisions of this part relating to collection,\n\nenforcement, disposition, or acceptance, the liability of a debtor\n\nor a secondary obligor for a deficiency is limited to an amount by\n\nwhich the sum of the secured obligation, expenses, and attorney’s\n\nfees exceeds the greater of:\n\n(A) the proceeds of the collection, enforcement,\n\ndisposition, or acceptance; or\n\n(B) the amount of proceeds that would have been realized\n\nhad the noncomplying secured party proceeded in\n\naccordance with the provisions of this part relating\n\nto collection, enforcement, disposition, or\n\nacceptance.\n\n(4) For purposes of subparagraph (B) of paragraph (3) of this\n\nsubsection, the amount of proceeds that would have been realized is\n\nequal to the sum of the secured obligation, expenses, and attorney’s\n\nfees unless the secured party proves that the amount is less than\n\nthat sum.\n\n(5) If a deficiency or surplus is calculated under subsection\n\n(f) of Section 1-9-615 of this title, the debtor or obligor has the\n\nburden of establishing that the amount of proceeds of the\n\ndisposition is significantly below the range of prices that a\n\ncomplying disposition to a person other than the secured party, a\n\nperson related to the secured party, or a secondary obligor would\n\nhave brought.\n\n(b) The limitation of the rules in subsection (a) of this\n\nsection to transactions other than consumer transactions is intended\n\nto leave to the court the determination of the proper rules in\n\nconsumer transactions. The court may not infer from that limitation\n\nthe nature of the proper rule in consumer transactions and may\n\ncontinue to apply established approaches.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2b72f041892b02f1f49db0a0decc735e64435b7c21ab8799ebbd19e820ddf646","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-625","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-627"},"notice":"GroundRules: Original legal text. Not legal advice."}