400.9-613. Contents and form of notification before disposition of collateral: general. - Missouri Statutes

Contents and form of notification before disposition of collateral:general.

400.9-613. Except in a consumer-goods transaction, the followingrules apply:

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

(A) Describes the debtor and the secured party;

(B) Describes the collateral that is the subject of the intendeddisposition;

(C) States the method of intended disposition;

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

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

(2) Whether the contents of a notification that lacks any of theinformation specified in paragraph (1) are nevertheless sufficient is aquestion of fact;

(3) The contents of a notification providing substantially theinformation specified in paragraph (1) are sufficient, even if thenotification 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;

(5) The following form of notification and the form appearing insection 400.9-614(3), when completed, each provides sufficient information:NOTIFICATION OFDISPOSITION OF COLLATERAL

To: (Name of debtor, obligor, or other person to which thenotification is sent)

From: (Name, address, and telephone number of secured party)

Name of Debtor(s): (Include only if debtor(s) are not an addressee)

(For a public disposition:)

We will sell (or lease or license, as applicable) the (describecollateral) (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 (describecollateral) privately sometime after (day and date).

You are entitled to an accounting of the unpaid indebtedness securedby 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)(End of Form)

(L. 2001 S.B. 288, A.L. 2002 S.B. 895)