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(810 ILCS 5/9-613)
Sec. 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:
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|
(A) describes the debtor and the secured party;
(B) describes the collateral that is the subject
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| of the intended disposition;
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|
(C) states the method of intended disposition;
(D) states that the debtor is entitled to an
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| accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
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(E) states the time and place of a public
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| disposition or the time after which any other disposition is to be made.
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|
(2) Whether the contents of a notification that lacks
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| any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
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(3) The contents of a notification providing
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| substantially the information specified in paragraph (1) are sufficient, even if the notification is accompanied by or combined other notification or includes:
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(A) information not specified by that paragraph;
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|
(B) minor errors that are not seriously
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|
(4) A particular phrasing of the notification is not
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|
(5) The following form of notification and the form
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| appearing in Section 9-614(4), when completed, each provides sufficient information:
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|
NOTIFICATION OF DISPOSITION OF COLLATERAL
To: ..................................... (Name of |
| debtor, obligor, or other person to which the notification is sent)
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|
From: ................................... (Name,
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| address, and telephone number of secured party)
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|
Name of Debtor(s): ..................... (Include
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| only if debtor(s) are not an addressee)
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For a public disposition:
We will sell or lease or license, as applicable, the
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| ............................ (describe collateral) to the highest qualified bidder in public as follows:
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Day and Date: ...................................
Time: ...........................................
Place: ..........................................
For a private disposition:
We will sell (or lease or license, as applicable) the
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| ........................... (describe collateral) privately sometime after ................ (day and date).
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You are entitled to an accounting of the unpaid
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| 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).
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(Source: P.A. 91-893, eff. 7-1-01.)
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