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§490:9-611 Notification before disposition of collateral. [Section effective July 1, 2001.] (a) In this section, "notification date" means the earlier of the date on which:<DIR>

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

(2)	The debtor and any secondary obligor waive the right to notification.</DIR>

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(b) Except as otherwise provided in subsection (d), a secured party that disposes of collateral under section 490:9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.

(c) To comply with subsection (b), the secured party shall send an authenticated notification of disposition to:<DIR>

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(1)	The debtor;

(2)	Any secondary obligor; and

(3)	If the collateral is other than consumer goods:<DIR>

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(A)	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;

(B)	Any other secured party or lienholder that, ten 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:<DIR>

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(i)	Identified the collateral;

(ii)	Was indexed under the debtor's name as of that date; and

(iii)	Was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and</DIR>

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(C)	Any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in section 490:9-311(a).</DIR>

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(d) Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.

(e) A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if:<DIR>

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(1)	Not later than twenty days or earlier than thirty days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and

(2)	Before the notification date, the secured party:<DIR>

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(A)	Did not receive a response to the request for information; or

(B)	Received a response to the request for information and sent an authenticated notification of disposition to each secured party named in that response whose financing statement covered the collateral. [L 2000, c 241, pt of §1]

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