47-9611. 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 an authenticated
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 47-9610 shall send to the persons specified in
subsection C of this section a reasonable authenticated notification of disposition.


C. To comply with subsection B of this section, the secured party shall send an
authenticated 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, an authenticated notification of a claim of an interest in the
collateral;


(b) Any other secured party or lienholder that, ten 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 days before the notification date, held a
security interest in the collateral perfected by compliance with a statute, regulation or
treaty described in section 47-9311, subsection A.


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
subsection C, paragraph 3, subdivision (b) of this section if:


1. Not later than twenty days or earlier than thirty 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, paragraph 3, subdivision (b) 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 an authenticated
notification of disposition to each secured party named in that response and whose
financing statement covered the collateral.