Iowa Code 554.9612 – Timeliness of notification before disposition of collateral
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1.
Reasonable time is question of fact.
Except as otherwise provided in subsection 2, whether a notification is sent within a reasonable time is a question of fact.
Terms Used In Iowa Code 554.9612
- Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
2.
Ten-day period sufficient in nonconsumer transaction.
In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.