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Session Laws, 1999
Volume 796, Page 2124   View pdf image
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(B) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (D), A SECURED PARTY
THAT DISPOSES OF COLLATERAL UNDER § 9-610 SHALL SEND TO THE PERSONS
SPECIFIED IN SUBSECTION (C) A REASONABLE AUTHENTICATED NOTIFICATION OF
DISPOSITION.

(C) TO COMPLY WITH SUBSECTION (B), THE SECURED PARTY SHALL SEND AN
AUTHENTICATED NOTIFICATION OF DISPOSITION TO:

(1) THE DEBTOR;

(2) ANY SECONDARY OBLIGOR; AND

(3) IF THE COLLATERAL IS OTHER THAN CONSUMER GOODS:

(A) ANY OTHER PERSON FROM WHICH THE SECURED PARTY HAS
RECEIVED, BEFORE THE NOTIFICATION DATE, AN AUTHENTICATED NOTIFICATION
OF A CLAIM OF AN INTEREST IN THE COLLATERAL;

(B) ANY OTHER SECURED PARTY OR LIENHOLDER THAT, 10 DAYS
BEFORE THE NOTIFICATION DATE, HELD A SECURITY INTEREST IN OR OTHER LIEN
ON THE COLLATERAL PERFECTED BY THE FILING OF A FINANCING STATEMENT
THAT:

(I) IDENTIFIED THE COLLATERAL;

(II) WAS INDEXED UNDER THE DEBTORS NAME AS OF THAT

DATE; AND

(III) WAS FILED IN THE OFFICE IN WHICH TO FILE A
FINANCING STATEMENT AGAINST THE DEBTOR COVERING THE COLLATERAL AS OF
THAT DATE; AND

(C) ANY OTHER SECURED PARTY THAT, 10 DAYS BEFORE THE
NOTIFICATION DATE, HELD A SECURITY INTEREST IN THE COLLATERAL PERFECTED
BY COMPLIANCE WITH A STATUTE, REGULATION, OR TREATY DESCRIBED IN §
9-311(A).

(D) SUBSECTION (B) DOES NOT APPLY IF THE COLLATERAL IS PERISHABLE OR
THREATENS TO DECLINE SPEEDILY IN VALUE OR IS OF A TYPE CUSTOMARILY SOLD
ON A RECOGNIZED MARKET.

(E) A SECURED PARTY COMPLIES WITH THE REQUIREMENT FOR
NOTIFICATION PRESCRIBED IN SUBSECTION (C)(3)(B) IF:

(1) NOT LATER THAN 20 DAYS OR EARLIER THAN 30 DAYS BEFORE THE
NOTIFICATION DATE, THE SECURED PARTY REQUESTS, IN A COMMERCIALLY
REASONABLE MANNER, INFORMATION CONCERNING FINANCING STATEMENTS
INDEXED UNDER THE DEBTOR'S NAME IN THE OFFICE INDICATED IN SUBSECTION
(C)(3)(B); AND

(2) BEFORE THE NOTIFICATION DATE, THE SECURED PARTY:

 

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Session Laws, 1999
Volume 796, Page 2124   View pdf image
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