Arizona Statutes

§ 47-9621 — Notification of proposal to accept collateral

Arizona·Title 47 Arizona Revised Statutes·Ch. 9 SECURED TRANSACTIONS·Art. 6 Default

A. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: 1. Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; 2. Any other secured party or lienholder that, ten days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

(a)Identified the collateral;
(b)Was indexed under the debtor's name as of that date; and
(c)Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and 3. Any other secured

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