Browse Arkansas Code titles and sections
4-9-613. Contents and form of notification before disposition of collateral: General.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-613. 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 paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:
(A) information not specified by that paragraph; 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 § 4-9-614(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) 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 lea
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-613
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:4-9-613
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e676114312f7a5d54a4e350f19827adc27fed7b1d7450f9a305da4137a4509d6
Source location: content.xml paragraph 11345
Stored source content
4-9-613. 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 paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in paragraph (1) are sufficient, even if the notification includes:
(A) information not specified by that paragraph; 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 § 4-9-614(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) 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 ]
Click to view form.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-614. Contents and form of notification before disposition of collateral: Consumer-goods transaction.
In a consumer-goods transaction, the following rules apply:
(1) A notification of disposition must provide the following information:
(A) the information specified in § 4-9-613(1);
(B) a description of any liability for a deficiency of the person to which the notification is sent;
(C) a telephone number from which the amount that must be paid to the secured party to redeem the collateral under § 4-9-623 is available; and
(D) a telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.
(2) A particular phrasing of the notification is not required.
(3) The following form of notification, when completed, provides sufficient information:
[ Name and address of secured party ] [ Date ] NOTICE OF OUR PLAN TO SELL PROPERTY [ Name and address of any obligor who is also a debtor ] Subject: [ Identification of Transaction ] We have your [ describe collateral ], because you broke promises in our agreement. [ For a public disposition: ] We will sell [ describe collateral ] at public sale. A sale could include a lease or license. The sale will be held as follows: Date: Time: Place: You may attend the sale and bring bidders if you want. [ For a private disposition: ] We will sell [ describe collateral ] at private sale sometime after [ date ]. A sale could include a lease or license. The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [ will or will not, as applicable ] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else. You can g
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-614
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-614. This identifies an authority to review, not proof of applicability.