NRS 104.9614
Contents and form of notification before disposition of collateral: Consumer-goods transaction.


In a consumer-goods transaction, the following rules apply:

1.

A notification of disposition must provide the following information:

(a)

The information specified in subsection 1 of NRS 104.9613;

(b)

A description of any liability for a deficiency of the person to which the notification is sent;

(c)

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

(d)

A telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.

2.

A particular phrasing of the notification is not required.

3.

The following form of notification, when completed, provides sufficient information:
[Text not available]
[Name and address of secured party]
[Date]
NOTICE OF OUR PLAN TO SELL PROPERTY
[Text not available]
[Name and address of any obligor who is also a debtor]
[Text not available]
Subject: [Identification of Transaction]
[Text not available]
We have your [describe collateral], because you broke promises in our agreement.
[Text not available]
[For a public disposition:]
We will sell [describe collateral] at public sale. A sale could include a lease or license. The sale will be held as follows:
[Text not available]
Date: .......................................
Time: .......................................
Place: .......................................
[Text not available]
You may attend the sale and bring bidders if you want.
[Text not available]
[For a private disposition:]
We will sell [describe collateral] at private sale sometime after [date]. A sale could include a lease or license.
[Text not available]
The money that we get from the sale (after paying our costs) will reduce the amount you owe. If we get less money than you owe, you [will or will not, as applicable] still owe us the difference. If we get more money than you owe, you will get the extra money, unless we must pay it to someone else.
[Text not available]
You can get the property back at any time before we sell it by paying us the full amount you owe (not just the past due payments), including our expenses. To learn the exact amount you must pay, call us at [telephone number].
[Text not available]
If you want us to explain to you in writing how we have figured the amount that you owe us, you may call us at [telephone number] [or write us at [secured party’s address]] and request a written explanation. [We will charge you $.......... for the explanation if we sent you another written explanation of the amount you owe us within the last 6 months.]
[Text not available]
If you need more information about the sale call us at [telephone number] [or write us at [secured party’s address]].
[Text not available]
We are sending this notice to the following other people who have an interest in [describe collateral] or who owe money under your agreement:
[Text not available]
[Names of all other debtors and obligors, if any]
[Text not available]

4.

A notification in the form of subsection 3 is sufficient, even if additional information appears at the end of the form.

5.

A notification in the form of subsection 3 is sufficient, even if it includes errors in information not required by subsection 1, unless the error is misleading with respect to rights arising under this article.

6.

If a notification under this section is not in the form of subsection 3, law other than this article determines the effect of including information not required by subsection 1.

Source: Section 104.9614 — Contents and form of notification before disposition of collateral: Consumer-goods transaction., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec9614.

104.9601
Rights after default
104.9602
Waiver and variance of rights and duties of debtor and obligor.
104.9603
Agreement on standards concerning rights and duties of parties.
104.9604
Procedure if security agreement covers real property or fixtures.
104.9605
Duty to unknown debtor or secondary obligor.
104.9606
Time of default for agricultural lien.
104.9607
Collection and enforcement by secured party.
104.9608
Application of proceeds of collection or enforcement
104.9609
Secured party’s right to take possession or dispose of collateral after default.
104.9610
Disposition of collateral after default.
104.9611
Notification before disposition of collateral.
104.9612
Timeliness of notification before disposition of collateral.
104.9613
Contents and form of notification before disposition of collateral: General.
104.9614
Contents and form of notification before disposition of collateral: Consumer-goods transaction.
104.9615
Application of proceeds of disposition
104.9616
Explanation of calculation of surplus or deficiency.
104.9617
Effect of disposition of collateral by secured party after default
104.9618
Rights and duties of certain secondary obligors.
104.9619
Transfer of record or legal title.
104.9620
Acceptance of collateral in full or partial satisfaction of obligation
104.9621
Notification of proposal to accept collateral in satisfaction of obligation.
104.9622
Effect of acceptance of collateral in satisfaction of obligation.
104.9623
Redemption of collateral.
104.9624
Waiver of right to notification of disposition of collateral
104.9625
Remedies for secured party’s failure to comply with article.
104.9626
Action in which deficiency or surplus is in issue.
104.9627
Determination of whether conduct was commercially reasonable.
104.9628
Nonliability and limitation on liability of secured party
Last Updated

Jun. 24, 2021

§ 104.9614’s source at nv​.us