§ 9-626. Action in which deficiency or surplus is in issue.
A. Applicable Rules if Amount of Deficiency or Surplus in Issue. In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply:
1. A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue.
2. If the secured party’s compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.
3. Except as otherwise provided in the provisions of this Osage Nation Secured Transactions Act dealing with nonliability and limitations on liability of a secured party or secondary obligor (27A ONC § 9-628), if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is subject to setoff for an amount as stated in the provision of this Osage Nation Secured Transactions Act dealing with damages for noncompliance (27A ONC § 9-625(B)), which may be measured by the amount recovered for conversion of collateral.
4. For purposes of subsection (A)(3) of this section, the liability of the debtor or a secondary obligor is calculated on the presumption that the proceeds of disposition equal the sum of the secured obligation, expenses, and allowable attorney’s fees, but the secured party may rebut the presumption.
B. Consumer Transactions; No Inference. The limitation of the rules in subsection (A) of this section to transactions other than consumer transactions is intended to leave to the Court the determination of the proper rules in consumer transactions. The Court may not infer from that limitation the nature of the proper rule in consumer transactions and may continue to apply established approaches. ONCA 07-22, eff. June 18, 2007.