Indiana § 26-1-9.1-613 Contents and form of notification before disposition of collateral;
transaction other than consumer-goods transaction

Indiana Statutes

§ 26-1-9.1-613 — Contents and form of notification before disposition of collateral; transaction other than consumer-goods transaction

Indiana § 26-1-9.1-613

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 9.1Secured Transactions

This text of Indiana § 26-1-9.1-613 (Contents and form of notification before disposition of collateral; transaction other than consumer-goods transaction) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-9.1-613 (2026).

Text

(a)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 subdivision (1) are nevertheless sufficient is a question of fact.

(3)The contents of a notification providing substantially th

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(a) 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 subdivision (1) are nevertheless
sufficient is a question of fact.
(3) The contents of a notification providing substantially the
information specified in subdivision (1) are sufficient, even if the
notification includes:
(A) information not specified by that subdivision; 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
IC 26-1-9.1-614(a)(3), when completed in accordance with
subsection (b) and IC 26-1-9.1-614(b), 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).
(End of Form)
(b) The following instructions apply to the form of notification in
subsection (a)(5):
(1) The instructions in this subsection refer to the numbers in
braces before items in the form of notification in subsection
(a)(5). The numbers in braces:
(A) are used only for the purpose of the instructions under this
subsection; and
(B) must not be included in the notification.
(2) Include and complete item {1} only if there is a debtor that is
not an addressee of the notification. List the name of each of those
debtors.
(3) 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 bidder" only if
applicable.
(4) Include and complete items {4} and {6}.
(5) Include and complete item {5} only if the sender will charge
the recipient for an accounting.