§490:9-621  Notification of proposal to
accept collateral.  (a)  A secured party that desires to accept collateral
in full or partial satisfaction of the obligation it secures shall send its
proposal to:



(1)  Any person from which the secured party has received,
before the debtor consented to the acceptance, an authenticated notification of
a claim of an interest in the collateral;



(2)  Any other secured party or lienholder that, ten
days before the debtor consented to the acceptance, held a security interest in
or other lien on the collateral perfected by the filing of a financing
statement that:



(A)  Identified the collateral;



(B)  Was indexed under the debtor's name as of
that date; and



(C)  Was filed in the office or offices in
which to file a financing statement against the debtor covering the collateral
as of that date; and



(3)  Any other secured party that, ten days before the
debtor consented to the acceptance, held a security interest in the collateral
perfected by compliance with a statute, regulation, or treaty described in
section 490:9-311(a).



(b)  A secured party that desires to accept
collateral in partial satisfaction of the obligation it secures shall send its
proposal to any secondary obligor in addition to the persons described in subsection
(a). [L 2000, c 241, pt of §1]