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Session Laws, 1999
Volume 796, Page 2125   View pdf image
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(A) DID NOT RECEIVE A RESPONSE TO THE REQUEST FOR
INFORMATION; OR

(B) RECEIVED A RESPONSE TO THE REQUEST FOR INFORMATION
AND SENT AN AUTHENTICATED NOTIFICATION OF DISPOSITION TO EACH SECURED
PARTY NAMED IN THAT RESPONSE WHOSE FINANCING STATEMENT COVERED THE
COLLATERAL.

9-612. TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.

(A) EXCEPT AS OTHERWISE PROVIDED IN SUBSECTION (B), WHETHER A
NOTIFICATION IS SENT WITHIN A REASONABLE TIME IS A QUESTION OF FACT.

(B) A NOTIFICATION OF DISPOSITION SENT AFTER DEFAULT AND 10 DAYS OR
MORE BEFORE THE EARLIEST TIME OF DISPOSITION SET FORTH IN THE
NOTIFICATION IS SENT WITHIN A REASONABLE TIME BEFORE THE DISPOSITION.

9-613. 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 SALE 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.

 

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Session Laws, 1999
Volume 796, Page 2125   View pdf image
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