N.Y. Uniform Commercial Code Law § 9-614: Contents and Form of Notification Before Disposition of Collateral: Consumer-goods Transaction

Section 9--614. Contents and Form of Notification Before Disposition of

Collateral: Consumer-goods Transaction.

(a) Contents and form of notification. In a consumer-goods

transaction, the following rules apply:

(1) A notification of disposition must provide the following

information:

(A) the information specified in Section 9--613(a);

(B) a description of any liability for a deficiency of the person

to which the notification is sent;

(C) a telephone number from which the amount that must be paid to

the secured party to redeem the collateral under Section

9--623 is available; and

(D) a telephone number or mailing address from which additional

information concerning the disposition and the obligation

secured is available.

(2) A particular phrasing of the notification is not required.

(3) The following form of notification, when completed in accordance

with the instructions in subsection (b), provides sufficient

information:

(Name and address of secured party)

(Date)

NOTICE OF OUR PLAN TO SELL PROPERTY

(Name and address of any obligor who is also a debtor)

Subject: (Identification of Transaction)

We have your (describe collateral), because you broke promises in our

agreement.

{1} We will sell (describe collateral) at public sale. A sale could

include a lease or license. The sale will be held as follows:

Date: ____________________

Time: ____________________

Place: ____________________

You may attend the sale and bring bidders if you want.

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

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

{3} The money that we get from the sale, after paying our costs, will

reduce the amount you owe. If we get less money than you owe, you (will

or will not, as applicable) still owe us the difference. If we get more

money than you owe, you will get the extra money, unless we must pay it

to someone else.

{4} You can get the property back at any time before we sell it by

paying us the full amount you owe, not just the past due payments,

including our expenses. To learn the exact amount you must pay, call us

at (telephone number).

{5} If you want us to explain to you in writing or in (description of

electronic record) (description of electronic record) how we have

figured the amount that you owe us,

{6} call us at (telephone number) or write us at (secured party's

address) or contact us by (description of electronic communication

method)

{7} and request a written explanation or an explanation in

(description of electronic record) an explanation in (description of

electronic record).

{8} We will charge you $ (amount) for the explanation if we sent you

another written explanation of the amount you owe us within the last six

months.

{9} If you need more information about the sale call us at (telephone

number) or write us at (secured party's address) or contact us by

(description of electronic communication method).

{10} We are sending this notice to the following other people who have

an interest in (describe collateral) or who owe money under your

agreement:

(Names of all other debtors and obligors, if any)

(End of Form)

(4) A notification in the form of paragraph (3) is sufficient, even if

additional information appears at the end of the form.

(5) A notification in the form of paragraph (3) is sufficient, even if

it includes errors in information not required by paragraph (3), unless

the error is misleading with respect to rights arising under this

article.

(6) If a notification under this section is not in the form of

paragraph (3), law other than this article determines the effect of

including information not required by paragraph (3).

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

apply to the form of notification in subsection (a)(3):

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

before items in the form of notification in subsection (a)(3). 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 either item {1}, if the notification relates

to a public disposition of the collateral, or item {2}, if the

notification relates to a private disposition of the collateral.

(3) Include and complete items {3}, {4}, {5}, {6}, and {7}.

(4) In item {5}, include and complete any one of the three alternative

methods for the explanation--writing, writing or electronic record, or

electronic record.

(5) In item {6}, include the telephone number. In addition, the sender

may include and complete either or both of the two additional

alternative methods of communication--writing or electronic

communication-for the recipient of the notification to communicate with

the sender. Neither of the two additional methods of communication is

required to be included.

(6) In item {7}, include and complete the method or methods for the

explanation--writing, writing or electronic record, or electronic

record--included in item {5}.

(7) Include and complete item {8} only if a written explanation is

included in item {5} as a method for communicating the explanation and

the sender will charge the recipient for another written explanation.

(8) In item {9}, include either the telephone number or the address or

both the telephone number and the address. In addition, the sender may

include and complete the additional method of communication--electronic

communication--for the recipient of the notification to communicate with

the sender. The additional method of electronic communication is not

required to be included.

(9) If item {10} does not apply, insert "None" after "agreement:".