NRS 104.9621
Notification of proposal to accept collateral in satisfaction of obligation.

1.

A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:

(a)

Any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;

(b)

Any other secured party or lienholder that, 10 days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:

(1)

Identified the collateral;

(2)

Was indexed under the debtor’s name as of that date; and

(3)

Was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and

(c)

Any other secured party that, 10 days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation or treaty described in subsection 1 of NRS 104.9311.

2.

A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection 1.

Source: Section 104.9621 — Notification of proposal to accept collateral in satisfaction of obligation., https://www.­leg.­state.­nv.­us/NRS/NRS-104.­html#NRS104Sec9621.

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

§ 104.9621’s source at nv​.us