1. In a
consumer-goods transaction, the following rules apply:
(a) A notification of disposition must provide
the following information:
(1) The information specified in paragraph
(a) of subsection 1 of NRS 104.9613 ;
(2) A description of any liability for a
deficiency of the person to which the notification is sent;
(3) A telephone number from which the
amount that must be paid to the secured party to redeem the collateral under NRS 104.9623 is available; and
(4) A telephone number or mailing address
from which additional information concerning the disposition and the obligation
secured is available.
(b) A particular phrasing of the notification is
not required.
(c) The following form of notification, when
completed in accordance with the instructions in subsection 2, 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: [ Identify
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] [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 partys address ]] [or
contact us by [ description of electronic communication method ]]
{7} and request [a written explanation] [a written explanation or an
explanation in [ description of electronic record ]] [an
explanation in [ description of electronic document ]].
{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 6 months.
{9} If you need more
information about the sale [call us at [ telephone number ]] [or
write us at [ secured partys 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 ]
(d) A notification in the form of paragraph (c)
is sufficient, even if additional information appears at the end of the form.
(e) A notification in the form of paragraph (c)
is sufficient, even if it includes errors in information not required by
paragraph (c) unless the error is misleading with respect to rights arising
under this article.
(f) If a notification under this section is not
in the form of paragraph (c), law other than this article determines the effect
of including information not required by paragraph (a).
2. The following instructions apply to the
form of notification in paragraph (c) of subsection 1:
(a) The instructions in this subsection refer to
the numbers in braces before items in the form of notification in paragraph (c)
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 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.
(c) Include and complete items {3}, {4}, {5}, {6}
and {7}.
(d) In item {5}, include and complete any one of
the three alternative methods for the explanation—writing, writing or
electronic record, or electronic record.
(e) 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.
(f) 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}.
(g) 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.
(h) 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.
(i) If item {10} does not apply, insert None
after agreement.‹ Prev All Nevada sections Next ›
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