Section 74

Secured party selling collateral to pay prior ranking secured parties

ActIn forceProvision 70 of 87

A secured party who has sold the collateral under section 70 shall, before applying the net proceeds of the sale towards the satisfaction of the debt or other obligation secured by the security interest of the secured party, apply the net proceeds of the sale towards the reasonable costs and expenses of the sale.

Secured Transactions 42

Read in full context — Secured Transactions Act →

Section 74

Secured party selling collateral to pay prior ranking secured parties

of Secured Transactions Act

ActIn forceProvision 70 of 87

A secured party who has sold the collateral under section 70 shall, before applying the net proceeds of the sale towards the satisfaction of the debt or other obligation secured by the security interest of the secured party, apply the net proceeds of the sale towards the reasonable costs and expenses of the sale.

Secured Transactions 42

Read in full context — Secured Transactions Act →