§ 41-09-20 — (9-210) Request for accounting - Request regarding list of collateral or statement of account

North Dakota § 41-09-20

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-09: Secured Transactions

Text

statement of account.
1. In this section:
a. "Request" means a record of a type described in subdivision b, c, or d.
b. "Request for an accounting" means a record signed by a debtor requesting that
the recipient provide an accounting of the unpaid obligations secured by collateral
and reasonably identifying the transaction or relationship that is the subject of the
request.
c. "Request regarding a list of collateral" means a record signed by a debtor
requesting that the recipient approve or correct a list of what the debtor believes
to be the collateral securing an obligation and reasonably identifying the
transaction or relationship that is the subject of the request.
d. "Request regarding a statement of account" means a record signed by a debtor
requesting that the recipient approve or correct a statement indicating what the
debtor believes to be the aggregate amount of unpaid obligations secured by
collateral as of a specified date and reasonably identifying the transaction or
relationship that is the subject of the request.
2. Subject to subsections 3 through 6, a secured party, other than a buyer of accounts,
chattel paper, payment intangibles, or promissory notes or a consignor, shall comply
with a request within fourteen days after receipt:
a. In the case of a request for an accounting, by signing and sending to the debtor
an accounting; and
b. In the case of a request regarding a list of collateral or a request regarding a
statement of account, by signing and sending to the debtor an approval or
correction.
3. A secured party that claims a security interest in all of a particular type of collateral
owned by the debtor may comply with a request regarding a list of collateral by
sending to the debtor a signed record, including a statement to that effect within
fourteen days after receipt.
4. A person that receives a request regarding a list of collateral, claims no interest in the
collateral when that person receives the request, and claimed an interest in the
collateral at an earlier time shall comply with the request within fourteen days after
receipt by sending to the debtor a signed record:
a. Disclaiming any interest in the collateral; and
b. If known to the recipient, providing the name and mailing address of any assignee
of or successor to the recipient's interest in the collateral.
5. A person that receives a request for an accounting or a request regarding a statement
of account, claims no interest in the obligations when it receives the request, and
claimed an interest in the obligations at an earlier time shall comply with the request
within fourteen days after receipt by sending to the debtor a signed record:
a. Disclaiming any interest in the obligations; and
b. If known to the recipient, providing the name and mailing address of any assignee
of or successor to the recipient's interest in the obligations.
6. A debtor is entitled without charge to one response to a request under this section
during any six-month period. The secured party may require payment of a charge not
exceeding twenty-five dollars for each additional response.