9-613 - Contents and Form of Notification Before Disposition of Collateral: General

NY UCC § 9-613 (2019) (N/A)
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(a) The contents of a notification of disposition are sufficient if the notification:

(1) describes the debtor and the secured party;

(2) describes the collateral that is the subject of the intended disposition;

(3) states the method of intended disposition;

(4) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and

(5) states the time and place of a public disposition or the time after which any other disposition is to be made.

(b) Whether the contents of a notification that lacks any of the information specified in subsection (a) are nevertheless sufficient is a question of fact.

(c) The contents of a notification providing substantially the information specified in subsection (a) are sufficient, even if the notification includes:

(1) information not specified by subsection (a); or

(2) minor errors that are not seriously misleading.

(d) A particular phrasing of the notification is not required.

(e) The following form of notification and the form appearing in Section 9--614(c), 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: ____________________