Nevada Revised Statutes 104.9614 – Contents and form of notification before disposition of collateral: Consumer-goods transaction
‘ 1. In a consumer-goods transaction, the following rules apply:
Terms Used In Nevada Revised Statutes 104.9614
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) A notification of disposition must provide the following information:
(1) The information specified in paragraph (a) of subsection 1 of NRS 104.9613;
(2) A description of any liability for a deficiency of the person to which the notification is sent;
(3) A telephone number from which the amount that must be paid to the secured party to redeem the collateral under NRS 104.9623 is available; and
(4) A telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.
(b) A particular phrasing of the notification is not required.
(c) The following form of notification, when completed in accordance with the instructions in subsection 2, provides sufficient information:
(d) A notification in the form of paragraph (c) is sufficient, even if additional information appears at the end of the form.
(e) A notification in the form of paragraph (c) is sufficient, even if it includes errors in information not required by paragraph (c) unless the error is misleading with respect to rights arising under this article.
(f) If a notification under this section is not in the form of paragraph (c), law other than this article determines the effect of including information not required by paragraph (a).
2. The following instructions apply to the form of notification in paragraph (c) of subsection 1:
(a) The instructions in this subsection refer to the numbers in braces before items in the form of notification in paragraph (c) of subsection 1. Do not include the numbers or braces in the notification. The numbers and braces are used only for the purpose of these instructions.
(b) Include and complete either item {1}, if the notification relates to a public disposition of the collateral, or item {2}, if the notification relates to a private disposition of the collateral.
(c) Include and complete items {3}, {4}, {5}, {6} and {7}.
(d) In item {5}, include and complete any one of the three alternative methods for the explanation-writing, writing or electronic record, or electronic record.
(e) In item {6}, include the telephone number. In addition, the sender may include and complete either or both of the two additional alternative methods of communication-writing or electronic communication-for the recipient of the notification to communicate with the sender. Neither of the two additional methods of communication is required to be included.
(f) In item {7}, include and complete the method or methods for the explanation-writing, writing or electronic record, or electronic record-included in item {5}.
(g) Include and complete item {8} only if a written explanation is included in item {5} as a method for communicating the explanation and the sender will charge the recipient for another written explanation.
(h) In item {9}, include either the telephone number or the address or both the telephone number and the address. In addition, the sender may include and complete the additional method of communication-electronic communication-for the recipient of the notification to communicate with the sender. The additional method of electronic communication is not required to be included.
(i) If item {10} does not apply, insert ‘None’ after ‘agreement.’