Subsections (b) and (c) [Maine cite subsections (2) and (3)] |
resolve an uncertainty under former Article 9 by providing that |
secondary obligors (sureties) are entitled to receive |
notification of an intended disposition of collateral, regardless |
of who created the security interest in the collateral. If the |
surety created the security interest, it would be the debtor. If |
it did not, it would be a secondary obligor. (This Article also |
resolves the question of the secondary obligor's ability to |
waive, pre-default, the right to notification-waiver generally is |
not permitted. See Section 9-602 [Maine cite section 9-1602]). |
Section 9-605 [Maine cite section 9-1605] relieves a secured |
party from any duty to send notification to a debtor or secondary |
obligor unknown to the secured party. |