<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 57A-9-614 - Contents and form of notification before disposition of collateral--Consumer-goods transaction.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sf5e9e42b44ed40b1b793b193a3de026aNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sf5e9e42b44ed40b1b793b193a3de026aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf5e9e42b44ed40b1b793b193a3de026aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sf5e9e42b44ed40b1b793b193a3de026aStatute { text-indent: 0.50in; 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} span.sf5e9e42b44ed40b1b793b193a3de026a000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf5e9e42b44ed40b1b793b193a3de026aNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf5e9e42b44ed40b1b793b193a3de026aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 57A-9-614 - Contents and form of notification before disposition of collateral--Consumer-goods transaction."><meta property="og:description" content="SDLRC Codified Law 57A-9-614 - Contents and form of notification before disposition of collateral--Consumer-goods transaction."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/57A-9-614"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-614" rel="noopener"><span class="sf5e9e42b44ed40b1b793b193a3de026aSENU">57A-9-614</span></a><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026aSENU">. </span><span class="sf5e9e42b44ed40b1b793b193a3de026aCL">Contents and form of notification before disposition of collateral--Consumer-goods transaction.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(a) In a consumer</span><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont-000000">-</span><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">goods transaction, the following rules apply:</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(1)    A notification of disposition must provide the following information:</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber2"><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(A)    The information specified in § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-613" rel="noopener"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">57A-9-613</span></a><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(a)(1);</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber2"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(B)    A description of any liability for a deficiency of the person to which the notification is sent;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber2"><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(C)    A telephone number from which the amount that must be paid to the secured party to redeem the collateral under § </span><a href="https://sdlegislature.gov/Statutes?Statute=57A-9-623" rel="noopener"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">57A-9-623</span></a><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont"> is available; and</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber2"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(D)    A telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(2)    A particular phrasing of the notification is not required.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(3)    The following form of notification, when completed in accordance with the instructions in subsection (b), provides sufficient information:</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Name and address of secured party)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Date)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">NOTICE OF OUR PLAN TO SELL PROPERTY</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Name and address of any obligor who is also a debtor)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">Subject: (Identify transaction)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">We have your (describe collateral), because you broke promises in our agreement.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{1} We will sell (describe collateral) at public sale. A sale could include a lease or license. The sale will be held as follows:</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Date)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Time)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Place)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">You may attend the sale and bring bidders if you want.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{2} We will sell (describe collateral) at private sale sometime after (date). A sale could include a lease or license.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{3} 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.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{4} 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).</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{5} If you want us to explain to you in (writing) (writing or in (description of electronic record)) (description of electronic record) how we have figured the amount that you owe us, {6} call us at (telephone number) (or) (write us at (secured party's address)) (or contact us by (description of electronic communication method)) {7} and request (a written explanation) (a written explanation or an explanation in (description of electronic record)) (an explanation in description of electronic record).</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{8} We will charge you $ (amount) for the explanation if we sent you another written explanation of the amount you owe us within the last six months.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{9} If you need more information about the sale, (call us at (telephone number)) (or) (write us at (secured party's address)) (or contact us by (description of electronic communication method)).</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">{10} We are sending this notice to the following other people who have interest in (describe collateral) or who owe money under your agreement:</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(Names of all other debtors and obligors, if any)</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">[END OF FORM]</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(4)    A notification in the form of paragraph (3) is sufficient, even if additional information appears at the end of the form.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(5)    A notification in the form of paragraph (3) is sufficient, even if it includes errors in information not required by paragraph (1), unless the error is misleading with respect to rights arising under this chapter.</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(6)    If a notification under this section is not in the form of paragraph (3), law other than this article determines the effect of including information not required by paragraph (1).</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatute"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(b) The following instructions apply to the form of notification in subsection (a)(3):</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(1)    The instructions in this subsection refer to the numbers in braces before items in the form of notification in subsection (a)(3). Do not include the numbers or braces in the notification. The numbers and braces are used only for the purpose of these instructions;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(2)    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;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(3)    Include and complete items {3}, {4}, {5}, {6}, and {7};</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(4)    In item {5}, include and complete any one of the three alternative methods for the explanation, writing, writing or electronic record, or electronic record;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(5)    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;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(6)    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};</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(7)    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;</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(8)    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. That additional method of electronic communication is not required to be included; and</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aStatuteNumber1"><span class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont">(9)    If item {10} does not apply, insert "None" after "agreement:".</span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aNormal"><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026a000001"> </span></p><p dir="ltr" class="sf5e9e42b44ed40b1b793b193a3de026aNoIndent"><span xml:space="preserve" class="sf5e9e42b44ed40b1b793b193a3de026aDefaultParagraphFont-000002">Source: </span><span class="sf5e9e42b44ed40b1b793b193a3de026aSCL">SL 2000, ch 231; SL 2024, ch 198, § 85.</span></p></div></body></html>