30-9A-613. Contents and form of notification before disposition of collateral -- general. (1) Except in a consumer-goods transaction, the following rules apply:
(a) The contents of a notification of disposition are sufficient if the notification:
(i) describes the debtor and the secured party;
(ii) describes the collateral that is the subject of the intended disposition;
(iii) states the method of intended disposition;
(iv) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
(v) states the time and place of a public disposition or the time after which any other disposition is to be made.
(b) Whether the contents of a notification that lacks any of the information set forth in subsection (1) are nevertheless sufficient is a question of fact.
(c) The contents of a notification providing substantially the information specified in subsection (1) are sufficient, even if the notification includes:
(i) information not specified by that subsection; or
(ii) minor errors that are not seriously misleading.
(d) A particular phrasing of the notification is not required.
(2) The following form of notification and the form appearing in 30-9A-614(3), when completed, 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]
Name of Debtor(s): [Include only if debtor(s) are not an 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]
History: En. Sec. 110, Ch. 305, L. 1999; amd. Sec. 20, Ch. 179, L. 2001; Sec. 30-9-613, MCA 1999; redes. 30-9A-613 by Code Commissioner, 2001.