{"data":{"id":"us-ky/krs-355.9-614","jurisdiction":"us-ky","citation":"KRS 355.9-614","heading":"Contents and form of notification before disposition of collateral:","body":"Consumer-goods transaction.\n(1) In a consumer-goods transaction, the following rules apply:\n(a) A notification of disposition must provide the following information:\n1. The information specified in KRS 355.9-613(1)(a);\n2. A description of any liability for a deficiency of the person to which the notification is sent;\n3. A telephone number from which the amount that must be paid to the secured party to redeem the collateral under KRS 355.9-623 is available; and\n4. A telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available;\n(b) A particular phrasing of the notification is not required;\n(c) The following form of notification, when completed in accordance with the instructions in subsection (2) of this section, provides sufficient information:\n\"(Name and address of secured party)\n(Date)\nNOTICE OF OUR PLAN TO SELL PROPERTY\n(Name and address of any obligor who is also a debtor)\nSubject: (Identify transaction)\nWe have your (describe collateral) because you broke promises in our agreement.\n{1} We will sell (describe collateral) at public sale. A sale could include a lease or\nlicense. The sale will be held as follows:\n(Date)\n(Time)\n(Place)\nYou may attend the sale and bring bidders if you want.\n{2} We will sell (describe collateral) at private sale sometime after (date). A sale\ncould include a lease or license.\n{3} The money that we get from the sale, after paying our costs, will reduce the\namount you owe. If we get less money than you owe, you (will or will not, as\napplicable) still owe us the difference. If we get more money than you owe,\nyou will get the extra money, unless we must pay it to someone else.\n{4} You can get your property back at any time before we sell it by paying us the\nfull amount you owe, not just the past due payments, including our expenses.\nTo learn the exact amount you must pay, call us at (telephone number).\n{5} If you want us to explain to you in (writing) (writing or in (description of\nelectronic record)) (description of electronic record) how we have figured the\namount you owe us, {6} call us at (telephone number) (or) (write us at\n(secured party's address)) (or contact us by (description of electronic\ncommunication method)) {7} and request (a written explanation) (a written\nexplanation or an explanation in (description of electronic record)) (an\nexplanation in (description of electronic record)).\n{8} We will charge you $ (amount) for the explanation if we sent you another\nwritten explanation of the amount you owe us within the last six (6) months.\n{9} If you need more information about the sale, (call us at (telephone nu mber))\n(or) (write us at (secured party's address)) (or contact us by (description of\nelectronic communication method)).\n{10} We are sending this notice to the following other people who have an interest\nin (describe collateral) or who owe money under your agreement:\n(Names of all other debtors and obligors, if any)\n[End of Form]\";\n(d) A notification in the form of paragraph (c) of this subsection is sufficient,\neven if additional information appears at the end of the form;\n(e) A notification in the form of  paragraph (c) of this subsection is sufficient,\neven if it includes errors in information not required by paragraph (a) of this\nsubsection, unless the error is misleading with respect to rights arising under\nthis article; and\n(f) If a notification under t his section is not in the form of paragraph (c) of this\nsubsection, law other than this article determines the effect of including\ninformation not required by paragraph (a) of this subsection.\n(2) The following instructions apply to the form of notificatio n in subsection (1)(c) of\nthis section:\n(a) The instructions in this subsection refer to the numbers in braces before items\nin the form of notification in subsection (1)(c) of this section. Do not include\nthe numbers or braces in the notification. The numb ers and braces are used\nonly for the purpose of these instructions;\n(b) Include and complete either item {1} , if the notification relates to a public\ndisposition of the collateral, or item {2}, if the notification relates to a private\ndisposition of the collateral;\n(c) Include and complete items {3}, {4}, {5}, {6}, and {7};\n(d) In item {5}, include and complete any one (1) of the three (3) alternative\nmethods for the explanation - writing, writing or electronic record, or\nelectronic record;\n(e) In item {6}, include the telephone number. In addition, the sender may\ninclude and complete either or both of the two (2 ) additional alternative\nmethods of communication - writing or electronic communication - for the\nrecipient of the notification to communicate with the sender. Neither of the\ntwo (2) additional methods of communication is required to be included;\n(f) In item {7}, include and complete the method or methods for the explanation\n– writing, writing or electronic record, or electronic record – included in item\n{5};\n(g) Include and complete item {8} only if a written explanation is included in\nitem {5} as a method  for communicating the explanation and the sender will\ncharge the recipient for another written explanation;\n(h) In item {9}, include either the telephone number or the address or both the\ntelephone number and the address. In addition, the sender may inclu de and\ncomplete the additional method of communication – electronic\ncommunication – for the recipient of the notification to communicate with the\nsender. The additional method of electronic communication is not required to\nbe included; and\n(i) If item {10} does not apply, insert \"None\" after \"agreement\".","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55710","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:49Z","sha256":"2897fa850437c5fcf957ccb4c5b36d829d337b0e075919675a0fcf73cadba6ea","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-613","next":"us-ky/krs-355.9-615"},"notice":"GroundRules: Original legal text. Not legal advice."}