2007 Minnesota Statutes

336.9-210 REQUEST FOR ACCOUNTING; REQUEST REGARDING LIST OF
COLLATERAL OR STATEMENT OF ACCOUNT.
(a) Definitions. In this section:
(1) "Request" means a record of a type described in paragraph (2), (3), or (4).
(2) "Request for an accounting" means a record authenticated by a debtor requesting that the
recipient provide an accounting of the unpaid obligations secured by collateral and reasonably
identifying the transaction or relationship that is the subject of the request.
(3) "Request regarding a list of collateral" means a record authenticated by a debtor
requesting that the recipient approve or correct a list of what the debtor believes to be the
collateral securing an obligation and reasonably identifying the transaction or relationship that is
the subject of the request.
(4) "Request regarding a statement of account" means a record authenticated by a debtor
requesting that the recipient approve or correct a statement indicating what the debtor believes to
be the aggregate amount of unpaid obligations secured by collateral as of a specified date and
reasonably identifying the transaction or relationship that is the subject of the request.
(b) Duty to respond to requests. Subject to subsections (c), (d), (e), and (f), a secured party,
other than a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a
consignor, shall comply with a request within 14 days after receipt:
(1) in the case of a request for an accounting, by authenticating and sending to the debtor an
accounting; and
(2) in the case of a request regarding a list of collateral or a request regarding a statement of
account, by authenticating and sending to the debtor an approval or correction.
(c) Request regarding list of collateral; statement concerning type of collateral. A
secured party that claims a security interest in all of a particular type of collateral owned by
the debtor may comply with a request regarding a list of collateral by sending to the debtor an
authenticated record including a statement to that effect within 14 days after receipt.
(d) Request regarding list of collateral; no interest claimed. A person that receives a
request regarding a list of collateral, claims no interest in the collateral when it receives the
request, and claimed an interest in the collateral at an earlier time shall comply with the request
within 14 days after receipt by sending to the debtor an authenticated record:
(1) disclaiming any interest in the collateral; and
(2) if known to the recipient, providing the name and mailing address of any assignee of or
successor to the recipient's interest in the collateral.
(e) Request for accounting or regarding statement of account; no interest in obligation
claimed. A person that receives a request for an accounting or a request regarding a statement of
account, claims no interest in the obligations when it receives the request, and claimed an interest
in the obligations at an earlier time shall comply with the request within 14 days after receipt by
sending to the debtor an authenticated record:
(1) disclaiming any interest in the obligations; and
(2) if known to the recipient, providing the name and mailing address of any assignee of or
successor to the recipient's interest in the obligations.
(f) Charges for responses. A debtor is entitled without charge to one response to a request
under this section during any six-month period. The secured party may require payment of a
charge not exceeding $25 for each additional response.
History: 2000 c 399 art 1 s 20