2013 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 079 - Secured Transactions
Section 79.0613 - UCC 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) Indicates the name of the debtor and the name, address and telephone number of 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 subsection (1) of this section are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in subsection (1) of this section are sufficient, even if the notification includes:
(a) Information not specified by subsection (1) of this section; 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 ORS 79.0614 (3), when completed, provide sufficient information:
______________________________________________________________________________
To: <u>(Name of debtor, obligor or other person to which the notification is sent.)</u>
From: <u>(Name, address and telephone number of secured party.)</u>
Name of Debtor(s): <u>(Include only if debtor(s) are not an addressee.)</u>
<u>For a public disposition:</u>
We will sell or lease or license, as applicable the (<u>describe collateral</u>) to the highest qualified bidder in public as follows:
Day and date: _________
Time: _________
Place: _________
<u>For a private disposition:</u>
We will sell or lease or license, as applicable the (<u>describe collateral</u>) privately sometime after (<u>day and date</u>).
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 <u>(telephone number).</u>
______________________________________________________________________________
[2001 c.445 §111]
