A. In this section:

Terms Used In Arizona Laws 47-9210

  • Chattel paper: means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods or a lease of specific goods and license of software used in the goods. See Arizona Laws 47-9102
  • Collateral: means the property subject to a security interest or agricultural lien. See Arizona Laws 47-9102
  • Consignor: means a person that delivers goods to a consignee in a consignment. See Arizona Laws 47-9102
  • Debtor: means :

    (a) A person having an interest, other than a security interest or other lien, in the collateral, whether or not the person is an obligor;

    (b) A seller of accounts, chattel paper, payment intangibles or promissory notes; or

    (c) A consignee. See Arizona Laws 47-9102

  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Secured party: means :

    (a) A person in whose favor a security interest is created or provided for under a security agreement, whether or not any obligation to be secured is outstanding;

    (b) A person that holds an agricultural lien;

    (c) A consignor;

    (d) A person to which accounts, chattel paper, payment intangibles or promissory notes have been sold;

    (e) A trustee, indenture trustee, agent, collateral agent or other representative in whose favor a security interest or agricultural lien is created or provided for; or

    (f) A person that holds a security interest arising under section 47-2401, 47-2505, 47-2711, 47-2A508, 47-4210 or 47-5118. See Arizona Laws 47-9102

1. "Request" means a record of a type described in paragraph 2, 3 or 4 of this subsection.

2. "Request for an accounting" means a record authenticated by a debtor, requesting that the recipient provide an accounting of the unpaid obligations secured by collateral and reasonably identifying the transaction or relationship that is the subject of the request.

3. "Request regarding a list of collateral" means a record authenticated by a debtor, requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

4. "Request regarding a statement of account" means a record authenticated by a debtor, requesting that the recipient approve or correct a statement indicating what the debtor believes to be the aggregate amount of unpaid obligations secured by collateral as of a specified date and reasonably identifying the transaction or relationship that is the subject of the request.

B. Subject to subsections C, D, E and F, a secured party, other than a buyer of accounts, chattel paper, payment intangibles or promissory notes or a consignor, shall comply with a request within fourteen days after receipt:

1. In the case of a request for an accounting, by authenticating and sending to the debtor an accounting; and

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

C. A secured party that claims a security interest in all of a particular type of collateral owned by the debtor may comply with a request regarding a list of collateral by sending to the debtor an authenticated record including a statement to that effect within fourteen days after receipt.

D. A person that receives a request regarding a list of collateral, claims no interest in the collateral when it receives the request and claimed an interest in the collateral at an earlier time shall comply with the request within fourteen days after receipt by sending to the debtor an authenticated record:

1. Disclaiming any interest in the collateral; and

2. If known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient’s interest in the collateral.

E. A person that receives a request for an accounting or a request regarding a statement of account, claims no interest in the obligations when it receives the request and claimed an interest in the obligations at an earlier time shall comply with the request within fourteen days after receipt 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 address of any assignee of or successor to the recipient’s interest in the obligations.

F. A debtor is entitled without charge to one response to a request under this section during any six month period. The secured party may require payment of a charge not exceeding twenty-five dollars for each additional response.

 

 

  Previous section
Next section  
 Article 2 Contents