§490:9-611  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 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), a secured party that disposes of collateral under section 490:9-610 shall
send to the persons specified in subsection (c) a reasonable authenticated
notification of disposition.



(c)  To comply with subsection (b), 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 490:9-311(a).



(d)  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)  A secured party complies with the
requirement for notification prescribed by subsection (c)(3)(B) 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)(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 an authenticated notification of disposition to each
secured party named in that response whose financing statement covered the
collateral. [L 2000, c 241, pt of §1]