400.9-210. Request for accounting--request regarding list of collateral or statement of account. - Missouri Statutes

Request for accounting--request regarding list of collateral orstatement of account.

400.9-210. (a) In this section:

(1) "Request" means a record of a type described in paragraph(2),(3), or (4);

(2) "Request for an accounting" means a record authenticated by adebtor requesting that the recipient provide an accounting of the unpaidobligations secured by collateral and reasonably identifying thetransaction or relationship that is the subject of the request;

(3) "Request regarding a list of collateral" means a recordauthenticated by a debtor requesting that the recipient approve or correcta list of what the debtor believes to be the collateral securing anobligation and reasonably identifying the transaction or relationship thatis the subject of the request;

(4) "Request regarding a statement of account" means a recordauthenticated by a debtor requesting that the recipient approve or correcta statement indicating what the debtor believes to be the aggregate amountof unpaid obligations secured by collateral as of a specified date andreasonably identifying the transaction or relationship that is the subjectof the request.

(b) Subject to subsections (c), (d), (e), and (f), a secured party,other than a buyer of accounts, chattel paper, payment intangibles, orpromissory notes or a consignor, shall comply with a request withinfourteen days after receipt:

(1) In the case of a request for an accounting, by authenticating andsending to the debtor an accounting; and

(2) In the case of a request regarding a list of collateral or arequest regarding a statement of account, by authenticating and sending tothe debtor an approval or correction.

(c) A secured party that claims a security interest in all of aparticular type of collateral owned by the debtor may comply with a requestregarding a list of collateral by sending to the debtor an authenticatedrecord including a statement to that effect within fourteen days afterreceipt.

(d) A person that receives a request regarding a list of collateral,claims no interest in the collateral when it receives the request, andclaimed an interest in the collateral at an earlier time shall comply withthe request within fourteen days after receipt by sending to the debtor anauthenticated record:

(1) Disclaiming any interest in the collateral; and

(2) If known to the recipient, providing the name and mailing addressof any assignee of or successor to the recipient's security interest in thecollateral.

(e) A person that receives a request for an accounting or a requestregarding a statement of account, claims no interest in the obligationswhen it receives the request, and claimed an interest in the obligations atan earlier time shall comply with the request within fourteen days afterreceipt by sending to the debtor an authenticated record:

(1) Disclaiming any interest in the obligations; and

(2) If known to the recipient, providing the name and mailing addressof any assignee of or successor to the recipient's interest in theobligations.

(f) A debtor is entitled without charge to one response to a requestunder this section during any six-month period. The secured party mayrequire payment of a charge not exceeding twenty-five dollars for eachadditional response.

(L. 2001 S.B. 288)

Effective 7-01-01