(c) Approval by court or on behalf of creditors. A collection,
enforcement, disposition, or acceptance is commercially reasonable if it has been
(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) not necessary; absence of
approval has no effect. Approval under subsection (c) need not be obtained,
lack of approval does not mean that the collection, enforcement, disposition,
acceptance is not commercially reasonable.
(Source: P.A. 91-893, eff. 7-1-01.)