Title 11, Chapter 9, Section 627
Determination of whether conduct was commercially reasonable.
(a) Greater amount obtainable under other circumstances; no
preclusion of commercial reasonableness. 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) Dispositions that are commercially reasonable. A disposition of
collateral is made in a commercially reasonable manner if the
disposition is made:
(1) In the usual manner on any recognized market;
(2) At the price current in any recognized market at the time of
the disposition; or
(3) Otherwise in conformity with reasonable commercial practices
among dealers in the type of property that was the subject of the
(c) Approval by court or on behalf of creditors. A collection,
enforcement, disposition, or acceptance is commercially reasonable
if it has been approved:
(1) In a judicial proceeding;
(2) By a bona fide creditors' committee;
(3) By a representative of creditors; or
(4) By an assignee for the benefit of creditors.
(d) Approval under subsection (c) of this Code section not
necessary; absence of approval has no effect. Approval under
subsection (c) of this Code section need not be obtained, and lack
of approval does not mean that the collection, enforcement,
disposition, or acceptance is not commercially reasonable.