LD 2245
pg. 393
Page 392 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 394 of 493
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LR 1087
Item 1

 
peculiar. The Comment to Section 2-312 has been revised
accordingly.

 
§9-1611.__Notification before disposition of collateral

 
(1)__In this section, "notification date" means the earlier of
the date on which:

 
(a)__A secured party sends to the debtor and any secondary
obligor an authenticated notification of disposition; or

 
(b)__The debtor and any secondary obligor waive the right to
notification.

 
(2)__Except as otherwise provided in subsection (4), a secured
party that disposes of collateral under section 9-1610 shall send
to the persons specified in subsection (3) a reasonable
authenticated notification of disposition.

 
(3)__To comply with subsection (2), the secured party shall
send an authenticated notification of disposition to:

 
(a)__The debtor;

 
(b)__Any secondary obligor; and

 
(c)__If the collateral is other than consumer goods:

 
(i)__Any other person from which the secured party has
received, before the notification date, an
authenticated notification of a claim of an interest in
the collateral;

 
(ii)__Any other secured party or lienholder that, 10
days before the notification date, 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 appropriate office in which
to file a financing statement against the debtor
covering the collateral as of that date; and

 
(iii)__Any other secured party that, 10 days before the
notification date, held a security interest in the
collateral perfected by compliance with a statute,


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