Ask Reggi Your Question Now
Can you summarize IACO 554.9210?
UNIFORM COMMERCIAL CODE > Request for accounting request regarding list of collateral or statement of account.
Short Summary
This legal document, governed by the Iowa Code under the Uniform Commercial Code, pertains to requests for accounting, requests regarding a list of collateral, and requests regarding a statement of account. The document defines the terms related to these requests and outlines the duties of secured parties in responding to such requests. It specifies that a secured party must comply with a request within fourteen days by providing an accounting, approving or correcting a list of collateral, or approving or correcting a statement of account. The document also includes provisions for cases where a secured party claims a security interest in all collateral of a particular type owned by the debtor, as well as cases where a person receives a request but claims no interest in the collateral or obligations. Additionally, it mentions that a debtor is entitled to one free response to a request within a six-month period, with the secured party having the option to charge for additional responses. No specific penalties are mentioned in this document.
Whom does it apply to?
Secured parties, debtors, and persons receiving requests
What does it govern?
Request for accounting, request regarding list of collateral, and request regarding a statement of account
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa