§25-9-613. Contents and form of notification before disposition of collateral: general

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) of this section are nevertheless sufficient is a question of fact.

(3)        The contents of a notification providing substantially the information specified in subdivision (1) of this section 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 G.S. 25-9-614(3), when completed, 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]

Name of Debtor(s):           [Include only if debtor(s) is/are not an addressee]

[For a public disposition:]

We will sell [or lease or license, as applicable] the [describe collateral] [to the highest qualified bidder] in public as follows:

Day and Date:_________________________________

Time:__________________________________

Place:__________________________________

[For a private disposition:]

We will sell [or lease or license, as applicable] the [describe collateral] privately sometime after [day and date].

You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell [or lease or license, as applicable] [for a charge of $ _______].  You may request an accounting by calling us at [telephone number]

(2000-169, s. 1.)