§ 12a-1-9-611

NOTIFICATION BEFORE DISPOSITION OF COLLATERAL (a) 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) Except as otherwise provided in subsection (d) of this section, a secured party that disposes of collateral under Section 1-9-610 of this title shall send to the persons specified in subsection (c) of this section a reasonable signed notification of disposition.(c) To comply with subsection (b) of this section, 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, ten (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

(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, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in subsection (a) of Section 1-9-311 of this title.(d) Subsection (b) of this section 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) A secured party complies with the requirement for notification prescribed by subparagraph (B) of paragraph (3) of subsection (c) of this section if:(1) not later than twenty (20) days or earlier than thirty (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

than thirty (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 subparagraph (B) of paragraph (3) of subsection (c) of this section; 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.Added by Laws 2000, c. 371, § 118, eff. July 1, 2001. Amended by Laws 2024, c. 13, § 81, eff. Nov. 1, 2024.