TITLE 6A
Uniform Commercial Code

CHAPTER 6A-1
General Provisions

PART 6A-1-301
Territorial Applicability and General Rules

SECTION 6A-1-309


§ 6A-1-309 Option to accelerate at will.

A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.

History of Section.
(P.L. 2007, ch. 19, § 4; P.L. 2007, ch. 34, § 4.)