§ 70A-9a-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 Subsection (1) are nevertheless sufficient is a question of fact.

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

(a) information not specified by that subsection; 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 in Subsection 70A-9a-614(3), 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) 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: [Insert day and date]     Time: [Insert time]     Place: [Insert 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 $[Insert amount] ]. You may request an accounting by calling us at [telephone number].

Enacted by Chapter 252, 2000 General Session