Section 26-1-9.1-611 - Notification by secured party of disposition of collateral(a) As used in this section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary obligor a signed notification of disposition; or(2) the debtor and any secondary obligor waive the right to notification.(b) Except as otherwise provided in subsection (d), a secured party that disposes of collateral under IC 26-1-9.1-610 shall send to the persons specified in subsection (c) a reasonable signed notification of disposition.(c) To comply with subsection (b), the secured party shall send a signed notification of disposition to: (2) any secondary obligor; and(3) if the collateral is other than consumer goods:(A) any other person from which the secured party has received, before the notification date, a signed notification of a claim of an interest in the collateral;(B) any other secured party or lienholder that, ten (10) days before the notification date, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:(i) identified the collateral;(ii) was indexed under the debtor's name as of that date; and(iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and(C) any other secured party that, ten (10) days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in IC 26-1-9.1-311(a).(d) Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.(e) A secured party complies with the requirement for notification prescribed in subsection (c)(3)(B) if: (1) not later than twenty (20) days or earlier than thirty (30) days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in subsection (c)(3)(B); and(2) before the notification date, the secured party: (A) did not receive a response to the request for information; or(B) received a response to the request for information and sent a signed notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.Amended by P.L. 199-2023,SEC. 79, eff. 7/1/2023.As added by P.L. 57-2000, SEC.45.