Maine Revised Statutes Title 11 Sec. 9-1613 – Contents and form of notification before disposition of collateral: general
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Except in a consumer-goods transaction, the following rules apply. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(1). The contents of a notification of disposition are sufficient if the notification:
(a). Describes the debtor and the secured party; [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). Describes the collateral that is the subject of the intended disposition; [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(c). States the method of intended disposition; [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(d). States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(e). States the time and place of a public disposition or the time after which any other disposition is to be made. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
Terms Used In Maine Revised Statutes Title 11 Sec. 9-1613
- Collateral: includes :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Consumer-goods transaction: means a consumer transaction in which:
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Debtor: means :
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:
(a). See Maine Revised Statutes Title 11 Sec. 9-1102Secured party: means :
(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.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(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 [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(b). Minor errors that are not seriously misleading. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(4). A particular phrasing of the notification is not required.
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
(5). The following form of notification or the form appearing in section 9-1614, subsection (3), when completed, 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) not 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:________________________
Time: ___________________________
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 $ ………]. You may request an accounting by calling us at [telephone number].
[End of Form]
[PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).