§ 25-9-613. Contents and form of notification before disposition of collateral: general. - North Carolina Statutes

§ 25‑9‑613. Contents and form of notification before disposition of collateral: general.

Except in a consumer‑goodstransaction, the following rules apply:

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

a.         Describes the debtorand the secured party;

b.         Describes thecollateral that is the subject of the intended disposition;

c.         States the method ofintended disposition;

d.         States that thedebtor is entitled to an accounting of the unpaid indebtedness and states thecharge, if any, for an accounting; and

e.         States the time andplace of a public disposition or the time after which any other disposition isto be made.

(2)        Whether the contentsof a notification that lacks any of the information specified in subdivision(1) of this section are nevertheless sufficient is a question of fact.

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

a.         Information notspecified by that subdivision; or

b.         Minor errors thatare not seriously misleading.

(4)        A particularphrasing of the notification is not required.

(5)        The following formof notification and the form appearing in G.S. 25‑9‑614(3), whencompleted, each provides sufficient information:

NOTIFICATION OFDISPOSITION OF COLLATERAL

To:             [Name of debtor, obligor, or otherperson to which the notification is sent]

From:         [Name,address, and telephone number of secured party]

Nameof Debtor(s):            [Include only if debtor(s) is/are not an addressee]

[For apublic disposition:]

Wewill sell [or lease or license, as applicable] the [describe collateral][to the highest qualified bidder] in public as follows:

Dayand Date:__________________________________

Time:__________________________________

Place:__________________________________

[For aprivate disposition:]

We willsell [or lease or license, as applicable] the [describe collateral] privatelysometime after [day and date].

Youare entitled to an accounting of the unpaid indebtedness secured by theproperty that we intend to sell [or lease or license, as applicable] [for acharge of $ _______].  You may request an accounting by calling us at [telephonenumber] (2000‑169,s. 1.)