1. Except in a
consumer-goods transaction, the following rules apply:
(a) The contents of a notification of disposition
are sufficient if the notification:
(1) Describes the debtor and the secured
party;
(2) Describes the collateral that is the
subject of the intended disposition;
(3) States the method of intended
disposition;
(4) States that the debtor is entitled to
an accounting of the unpaid indebtedness and states the charge, if any, for an
accounting; and
(5) 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 specified in paragraph (a) are nevertheless
sufficient is a question of fact.
(c) The contents of a notification providing
substantially the information specified in paragraph (a) are sufficient, even
if the notification includes:
(1) Information not specified by that
paragraph; or
(2) Minor errors that are not seriously
misleading.
(d) A particular phrasing of the notification is
not required.
(e) The following form of notification and the
form appearing in paragraph (c) of subsection 1 of NRS 104.9614 , when completed in accordance
with the instructions in subsection 2 and subsection 2 of NRS 104.9614 , 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 ].
2. The following instructions apply to the
form of notification in paragraph (e) of subsection 1:
(a) The instructions in this subsection refer to
the numbers in braces before items in the form of notification in paragraph (e)
of subsection 1. Do not include the numbers or braces in the notification. The
numbers and braces are used only for the purpose of these instructions.
(b) Include and complete item {1} only if there
is a debtor that is not an addressee of the notification and list the name or
names.
(c) 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.
(d) Include and complete items {4} and {6}.
(e) Include and complete item {5} only if the
sender will charge the recipient for an accounting.‹ Prev All Nevada sections Next ›
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