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§ 26-1-9-1-613 — Indiana Law | CourtGPT
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  4. Title 26 - Commercial Law/
  5. Article 1 - Uniform Commercial Code/
  6. Chapter 9.1 - Secured Transactions26-1-9.1-101. Short Title/
  7. § 26-1-9-1-613
Indiana Legal Code

§ 26-1-9-1-613

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(a) 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 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 subdivision (1) are nevertheless sufficient is a question of fact.(3) The contents of a notification providing substantially the information specified in subdivision (1) are sufficient, even if the notification includes:(A) information not specified by that subdivision; 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 IC 26-1-9.1-614(a)(3), when completed in accordance with subsection (b)

.(4) A particular phrasing of the notification is not required.(5) The following form of notification and the form appearing in IC 26-1-9.1-614(a)(3), when completed in accordance with subsection (b) and IC 26-1-9.1-614(b), each provides sufficient information:NOTIFICATION OF DISPOSITION OF COLLATERALTo: (Name of debtor, obligor, or other person to which the notification is sent)From: (Name, address, and telephone number of secured party){1} Name of any debtor that is not an addressee: (Name of each debtor){2} We will sell (describe collateral) (to the highest qualified bidder) at public sale. A sale could include a lease or license. The sale will be held as follows:(Date)(Time)(Place){3} We will sell (describe collateral) at private sale sometime after (date). A sale could include a lease or license.{4} You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell or, as applicable, lease or license.{5} If you request an accounting, you must pay a charge of $ (amount).{6} You may request an accounting by calling us at (telephone number).(End of Form)(b) The following instructions apply to the form of notification in subsection

, you must pay a charge of $ (amount).{6} You may request an accounting by calling us at (telephone number).(End of Form)(b) The following instructions apply to the form of notification in subsection (a)(5):(1) The instructions in this subsection refer to the numbers in braces before items in the form of notification in subsection (a)(5). The numbers in braces:(A) are used only for the purpose of the instructions under this subsection; and(B) must not be included in the notification.(2) Include and complete item {1} only if there is a debtor that is not an addressee of the notification. List the name of each of those debtors.(3) Include and complete either item {2}, if the notification relates to a public disposition of the collateral, or item {3}, if the notification relates to a private disposition of the collateral. If item {2} is included, include the words 'to the highest bidder' only if applicable.(4) Include and complete items {4} and {6}.(5) Include and complete item {5} only if the sender will charge the recipient for an accounting.As added by P.L.57-2000, SEC.45. Amended by P.L.199-2023, SEC.80.