Time of default for agricultural lien

1. Law
2. District of Columbia Code
3. Commercial Instruments and Transactions. [Enacted title]
4. Uniform Commercial Code
5. Secured Transactions
6. Default
7. Default and Enforcement of Security Interest
8. Time of default for agricultural lien

For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.

(Oct. 26, 2000, D.C. Law 13-201, § 101, 47 DCR 7576.)

Uniform Commercial Code Comment

1. Source. New.

2. Time of Default. Remedies under this Part become available upon the debtor’s “default.” See Section 9-601. This section explains when “default” occurs in the agricultural-lien context. It requires one to consult the enabling statute to determine when the lienholder is entitled to enforce the lien.

Download our app to see the most-to-date content.