47-9614

47-9614. Contents and form of notification
before disposition of collateral: consumer goods
transaction

In a consumer goods transaction, the following rules apply:

1. A notification of disposition must provide the following information:

(a) The information specified in section 47-9613, paragraph 1;

(b) A description of any liability for a deficiency of the person to which the
notification is sent;

(c) A telephone number from which the amount that must be paid to the secured party
to redeem the collateral under section 47-9623 is available; and

(d) A telephone number or mailing address from which additional information
concerning the disposition and the obligation secured is available.

2. A particular phrasing of the notification is not required.

3. The following form of notification, when completed, provides sufficient
information:

[Name and address of secured party]

[Date]

NOTICE OF OUR PLAN TO SELL PROPERTY

[Name and address of any obligor who is also a debtor]

Subject: [Identification of Transaction]

We have your [describe collateral] , because you broke promises in
our agreement.

[For a public disposition:]

We will sell [describe collateral] at public sale. A sale could
include a lease or license. The sale will be held as follows:

Date:

Time:

Place:

You may attend the sale and bring bidders if you want.

[For a private disposition:]

We will sell [describe collateral] at private sale sometime
after [date] . A sale could include a lease or license.

The money that we get from the sale (after paying our costs) will reduce the
amount you owe. If we get less money than you owe, you [will or will
not, as applicable] still owe us the difference. If we get more money
than you owe, you will get the extra money, unless we must pay it to someone
else.

You can get the property back at any time before we sell it by paying us the
full amount you owe (not just the past due payments), including our
expenses. To learn the exact amount you must pay, call us at [telephone
number] .

If you want us to explain to you in writing how we have figured the amount
that you owe us, you may call us at [telephone number] [or write us
at [secured party's address] ] and request a written
explanation. [We will charge you $ for the explanation if we sent
you another written explanation of the amount you owe us within the last six
months.]

If you need more information about the sale call us at [telephone
number] [or write us at [secured party's address] ].

We are sending this notice to the following other people who have an interest
in [describe collateral] or who owe money under your agreement:

[Names of all other debtors and obligors, if any]

4. A notification in the form of paragraph 3 of this section is sufficient, even if
additional information appears at the end of the form.

5. A notification in the form of paragraph 3 of this section is sufficient, even if
it includes errors in information not required by paragraph 1 of this section, unless the
error is misleading with respect to rights arising under this chapter.

6. If a notification under this section is not in the form of paragraph 3 of this
section, law other than this chapter determines the effect of including information not
required by paragraph 1 of this section.