2006 New York Code - Contents And Form Of Notification Before Disposition Of Collateral



 
  Section 9--613. Contents  and Form of Notification Before Disposition of
                    Collateral: General.
    Except in a consumer-goods transaction, the following rules apply:
    (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:         ____________________
    (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).

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