US Uniform Commercial Code Article 9 Secured Transactions 9-611-9-614-notification-of-disposition: Send reasonable authenticated notification of the disposition to the debtor, secondary obligors and other secured parties of record (searched twenty to thirty days before), in the statutory content and form, and in a consumer-goods transaction with the additional consumer content

What does 9-611-9-614-notification-of-disposition require?

Before disposing of collateral (other than perishable collateral, collateral threatening to decline speedily in value, or collateral sold on a recognised market) the secured party must send a reasonable authenticated notification of disposition to the debtor, any secondary obligor, and, for collateral other than consumer goods, any person that gave an authenticated notification of a claim ten days before the notification date, any secured party or lienholder with a financing statement of record found in a search run twenty to thirty days before the notification date, and any secured party perfected under a title statute (section 9-611). Reasonableness of the timing is a question of fact, with a safe harbour of ten days or more before the earliest disposition in a non-consumer transaction (section 9-612). In a non-consumer transaction the notification suffices if it identifies the debtor and the secured party, identifies the collateral, says how the collateral will be disposed of, tells the debtor that an accounting of the unpaid debt is available and what it costs, and gives, for a public disposition, its time and place, or, for a private one, the date after which it may occur; minor errors that are not misleading do not matter, and a safe-harbour form is given (section 9-613). In a consumer-goods transaction the notification must also describe any liability for a deficiency, give a telephone number from which the redemption amount is available, and give a telephone number or mailing address for additional information, with its own safe-harbour form (section 9-614).