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336.9-613 CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF
COLLATERAL: GENERAL.
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
paragraph (1) are nevertheless sufficient is a question of fact.
(3) The contents of a notification providing substantially the information specified in
paragraph (1) 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 section 336.9-614(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:
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)....
History: 2000 c 399 art 1 s 114