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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-1-9-613. Contents and form of notification before disposition of collateral:  general.  

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  • CONTENTS AND FORM OF NOTIFICATION

    BEFORE DISPOSITION OF COLLATERAL:  GENERAL

    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 paragraph (1) of this section are nevertheless sufficient is a question of fact.

    (3)  The contents of a notification providing substantially the information specified in paragraph (1) of this section are sufficient, even if the notification includes:

    (A)information not specified by that paragraph; 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 paragraph (3) of Section 1-9-614 of this title, 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]

Added by Laws 2000, c. 371, § 120, eff. July 1, 2001.