Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

Illinois Compiled Statutes

 ILCS Listing   Public Acts  Search   Guide   Disclaimer

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

810 ILCS 5/9-613

    (810 ILCS 5/9-613)
    Sec. 9-613. Contents and form of notification before disposition of collateral: general. Except in a consumer-goods transaction, the following rules apply:
        (1) The contents of a notification of disposition are
    
sufficient if the notification:
            (A) describes the debtor and the secured party;
            (B) describes the collateral that is the subject
        
of the intended disposition;
            (C) states the method of intended disposition;
            (D) states that the debtor is entitled to an
        
accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
            (E) states the time and place of a public
        
disposition or the time after which any other disposition is to be made.
        (2) Whether the contents of a notification that lacks
    
any of the information specified in paragraph (1) are nevertheless sufficient is a question of fact.
        (3) The contents of a notification providing
    
substantially the information specified in paragraph (1) are sufficient, even if the notification is accompanied by or combined other notification or includes:
            (A) information not specified by that paragraph;
        
or
            (B) minor errors that are not seriously
        
misleading.
        (4) A particular phrasing of the notification is not
    
required.
        (5) The following form of notification and the form
    
appearing in Section 9-614(4), when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION OF COLLATERAL
        To: ..................................... (Name of
    
debtor, obligor, or other person to which the notification is sent)
        From: ................................... (Name,
    
address, and telephone number of secured party)
        Name of Debtor(s): ..................... (Include
    
only if debtor(s) are not an addressee)

 
        For a public disposition:
        We will sell or lease or license, as applicable, the
    
............................ (describe collateral) to the highest qualified bidder in public as follows:
        Day and Date: ...................................
        Time: ...........................................
        Place: ..........................................
 
        For a private disposition:
        We will sell (or lease or license, as applicable) the
    
........................... (describe collateral) privately sometime after ................ (day and date).
        You are entitled to an accounting of the unpaid
    
indebtedness secured by the property that we intend to sell or lease or license, as applicable for a charge of $................. You may request an accounting by calling us at .................. (telephone number).
(Source: P.A. 91-893, eff. 7-1-01.)