§ 382-a-9-611

382-A:9-611 Notification Before Disposition of Collateral. – (a)'Notification date.' In this section, 'notification date' means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary obligor a signed notification of disposition; or (2) the debtor and any secondary obligor waive the right to notification. (b)Notification of disposition required. Except as otherwise provided in subsection (d), a secured party that disposes of collateral under Section 9-610 shall send to the persons specified in subsection (c) a reasonable signed notification of disposition. (c)Persons to be notified. To comply with subsection (b), the secured party shall send a signed notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the collateral is other than consumer goods: (A) any other person from which the secured party has received, before the notification date, a signed notification of a claim of an interest in the collateral; (B) any other secured party or lienholder that, 10 days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i)

ny other secured party or lienholder that, 10 days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: (i) identified the collateral; (ii) was indexed under the debtor's name as of that date; and (iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) any other secured party that, 10 days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 9-311(a). (d)Subsection (b) inapplicable: perishable collateral; recognized market. Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. (e)Compliance with subsection (c)(3)(B). A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if: (1) not later than 20 days or earlier than 30 days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements

3)(B) if: (1) not later than 20 days or earlier than 30 days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and (2) before the notification date, the secured party: (A) did not receive a response to the request for information; or (B) received a response to the request for information and sent a signed notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral. Source. 2001, 102:25, eff. July 1, 2001. 2022, 281:77, eff. Jan. 1, 2023. 2023, 236:68, eff. Oct. 7, 2023.