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Can you summarize MNST 336.9-613?
UNIFORM COMMERCIAL CODE > CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL.
Short Summary
This legal document governs the contents and form of notification before the disposition of collateral, specifically in non-consumer goods transactions. The document outlines the requirements for a notification of disposition, including the necessary information that must be included such as the description of the debtor and secured party, collateral subject to disposition, method of intended disposition, entitlement to an accounting of unpaid indebtedness, and time and place of public or other disposition. The document also states that minor errors that are not seriously misleading or additional information not specified may still be considered sufficient. It further provides a suggested form of notification that can be used, either for public or private dispositions. Overall, this document establishes the guidelines for notifying parties involved in the disposition of collateral in non-consumer goods transactions.
Whom does it apply to?
Creditors and debtors involved in non-consumer goods transactions
What does it govern?
Notification of disposition of collateral
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota