N.Y. Uniform Commercial Code Law § 9-613: Contents and Form of Notification Before Disposition of Collateral: General

Section 9--613. Contents and Form of Notification Before Disposition of

Collateral: General.

(a) Contents and form of notification. 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 (a) are nevertheless sufficient is a

question of fact.

(3) The contents of a notification providing substantially the

information specified in subsection (a) are sufficient, even if the

notification includes:

(A) information not specified by subsection (a); 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

Section 9--614(a)(3), when completed in accordance with the instructions

in subsection (b) and Section 9--614(b), 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)

{1} Name of any debtor that is not an addressee: (Name of each debtor)

{2} We will sell (describe collateral) (to the highest qualified

bidder) at public sale. A sale could include a lease or license. The

sale will be held as follows:

(Date)

(Time)

(Place)

{3} We will sell (describe collateral) at private sale sometime after

(date). A sale could include a lease or license.

{4} You are entitled to an accounting of the unpaid indebtedness

secured by the property that we intend to sell or, as applicable, lease

or license.

{5} If you request an accounting you must pay a charge of $ (amount).

{6} You may request an accounting by calling us at (telephone number).

(End of Form)

(b) Instructions for form of notification. The following instructions

apply to the form of notification in subsection (a)(5):

(1) The instructions in this subsection refer to the numbers in braces

before items in the form of notification in subsection (a)(5). Do not

include the numbers or braces in the notification. The numbers and

braces are used only for the purpose of these instructions.

(2) Include and complete subsection (a)(5) item {1} only if there is a

debtor that is not an addressee of the notification and list the name or

names.

(3) Include and complete either item {2}, if the notification relates

to a public disposition of the collateral, or item {3}, if the

notification relates to a private disposition of the collateral. If item

{2} is included, include the words "to the highest qualified bidder"

only if applicable.

(4) Include and complete items {4} and {6}.

(5) Include and complete item {5} only if the sender will charge the

recipient for an accounting.