§ 11-9-613 - Contents and form of notification before disposition of collateral; general - Georgia Statutes

O.C.G.A. 11-9-613 (2010)
11-9-613. Contents and form of notification before disposition of collateral; general.

Except in a consumer goods transaction, the following rules apply:

(1) The contents of a notification of disposition are sufficient if the notification:

(A) Describes the debtor and the secured party;

(B) Describes the collateral that is the subject of the intended disposition;

(C) States the method of intended disposition;

(D) States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and

(E) States the time and place of a public disposition or the time after which any other disposition is to be made;

(2) Whether the contents of a notification that lacks any of the information specified in paragraph (1) of this Code section are nevertheless sufficient is a question of fact;

(3) The contents of a notification providing substantially the information specified in paragraph (1) of this Code section are sufficient, even if the notification includes:

(A) Information not specified by that paragraph; or

(B) Minor errors that are not seriously misleading;

(4) A particular phrasing of the notification is not required; and

(5) The following form of notification and the form appearing in paragraph (3) of Code Section 11-9-614, when completed, each provides sufficient information:

NOTIFICATION OF DISPOSITION OF COLLATERAL

To: (Name of debtor, obligor, or other person to which the notification
is sent)
From: (Name, address, and telephone number of secured party)
Name of Debtor(s): (Include only if debtor(s) is (are) not an addressee)

(For a public disposition:)
We will sell (or lease or license, as applicable) the (describe
collateral) to the highest qualified bidder in public as follows:
Day and date:
Time:
Place:

(For a private disposition:)
We will sell (or lease or license, as applicable) the (describe
collateral) privately sometime after (day and date) .
You are entitled to an accounting of the unpaid indebtedness secured by
the property that we intend to sell (or lease or license, as applicable)
(for a charge of $ ). You may request an accounting by calling us
at (telephone number) .