California Commercial Code

§ 9608

COM § 9608 Effective Jan 1, 2024Div. 9 · Ch. 6

Statute text

(a)If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply:

(1)A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under Section 9607 in the following order to:

(A)The reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney’s fees and legal expenses incurred by the secured party.

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Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 63. (SB 95) Effective January 1, 2024.