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Alaska Statutes.

Title 45. Trade and Commerce

Chapter 29. Secured Transactions

Section 613. General Notification Before Disposition of Collateral.

AS 45.29.613. General Notification Before Disposition of Collateral.

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 (1) of this section are nevertheless sufficient is a question of fact;

(3) the contents of a notification providing substantially the information specified in (1) of this section 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 AS 45.29.614(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)___.       

Note to HTML Version:

This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005