§ 8.9A-613. Contents and form of notification before disposition of collateral; general
Except in a consumer-goods transaction, the following rules apply:
(1) The contents of a notification of disposition are sufficient if the notification:
(A) describes the debtor and the secured party;
(B) describes the collateral that is the subject of the intended disposition;
(C) states the method of intended disposition;
(D) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(E) states the time and place of a public disposition or the time after which any other disposition is to be made.
(2) Whether the contents of a notification that lacks any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:
(A) information not specified by that paragraph; or
(B) minor errors that are not seriously misleading.
(4) A particular phrasing of the notification is not required.
(5) The following form of notification and the form appearing in § 8.9A-614 (3), when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION OF COLLATERAL
To: ________________________________________
Name of debtor, obligor, or other person to which
the notification is sent
From: ________________________________________
Name, address, and telephone number of secured party
Name of
Debtor(s): ______________________________
Include only if debtor(s) are not an addressee
For a public disposition:
We will sell or lease or license, as applicable, the ________ (describe
collateral) to the highest qualified bidder in public as follows:
Day and Date:______________
Time:________________________
Place:____________________
For a private disposition:
We will sell or lease or license, as applicable, the ____________ (describe
collateral) privately sometime after ____________ (day and date).
You are entitled to an accounting of the unpaid indebtedness secured by the
property that we intend to sell or lease or license, as applicable, for a
charge of $________ . You may request an accounting by calling us at
____________ (telephone number).
(2000, c. 1007.)
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