1999 Minnesota Statutes

     336.9-208 Request for statement of account or list of 
  collateral.  

    (1) A debtor may sign a statement indicating what the 
 debtor believes to be the aggregate amount of unpaid 
 indebtedness as of a specified date and may send it to the 
 secured party with a request that the statement be approved or 
 corrected and returned to the debtor.  When the security 
 agreement or any other record kept by the secured party 
 identifies the collateral a debtor may similarly request the 
 secured party to approve or correct a list of the collateral.  

    (2) The secured party must comply with such a request 
 within two weeks after receipt by sending a written correction 
 or approval.  If the secured party claims a security interest in 
 all of a particular type of collateral owned by the debtor the 
 secured party may indicate that fact in the reply and need not 
 approve or correct an itemized list of such collateral.  If the 
 secured party without reasonable excuse fails to comply the 
 secured party is liable for any loss caused to the debtor 
 thereby; and if the debtor has properly included in the request 
 a good faith statement of the obligation or a list of the 
 collateral or both the secured party may claim a security 
 interest only as shown in the statement against persons misled 
 by the failure to comply.  If the secured party no longer has an 
 interest in the obligation or collateral at the time the request 
 is received the secured party must disclose the name and address 
 of any known successor in interest and the secured party is 
 liable for any loss caused to the debtor as a result of failure 
 to disclose.  A successor in interest is not subject to this 
 section until a request is received by the successor.  

    (3) A debtor is entitled to such a statement once every six 
 months without charge.  The secured party may require payment of 
 a charge not exceeding $10 for each additional statement 
 furnished.  

    HIST: 1965 c 811 s 336.9-208; 1986 c 444