SECTION 679.621. Notification of proposal to accept collateral.
Latest version.
1(1) 2A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:25(a) 26Any person from whom the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;
54(b) 55Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:911. 92Identified the collateral;
952. 96Was indexed under the debtor’s name as of that date; and
1073. 108Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and
133(c) 134Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in s. 167679.3111(1)168. 169(2) 170A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (1).
203(3) 204A secured party shall send its proposal under subsection (1) or subsection (2) to the affected party at the address prescribed in s. 227679.611(6)228.
Bills Cite this Section:
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Cited by Court Cases:
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