§ 11-9-614 - Contents and form of notification before disposition of collateral; consumer goods transaction - Georgia Statutes

O.C.G.A. 11-9-614 (2010)
11-9-614. 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 paragraph (1) of Code Section 11-9-613;

(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 Code Section 11-9-623 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 Code 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 Code section is sufficient, even if it includes errors in information not required by paragraph (1) of this Code section, unless the error is misleading with respect to rights arising under this article; and

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