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Can you summarize IACO 554.9614?
UNIFORM COMMERCIAL CODE > Contents and form of notification before disposition of collateral consumer-goods transaction.
Short Summary
This legal document governs the contents and form of notification required before the disposition of collateral in consumer-goods transactions. It applies to parties involved in such transactions. The document specifies the information that must be included in the notification, such as details about the collateral, liability for deficiency, contact information for redemption of collateral, and contact information for additional information about the disposition and the obligation secured. The document provides a suggested form of notification that includes the necessary information. It also clarifies that a particular phrasing is not required and that additional information in the notification is acceptable as long as it is not misleading. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
Parties involved in consumer-goods transactions
What does it govern?
Notification before disposition of collateral in consumer-goods transactions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa