Section 409.613. Contents and form of notification before disposition of collateral: general.

  Except in a consumer-goods transaction, the following rules apply:

(1)   Notification: when sufficient. 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)   Notification: question of fact. Whether the contents of a notification that lacks any of the information specified in sub. (1) are nevertheless sufficient is a question of fact.

(3)   Notification: other information or minor errors. The contents of a notification providing substantially the information specified in sub. (1) are sufficient, even if the notification includes:

(a) Information not specified by sub. (1) ; or

(b) Minor errors that are not seriously misleading.

(4)   Substantial compliance. A particular phrasing of the notification is not required.

(5)   Notification: form sufficient. The following form of notification and the form appearing in s. 409.614 (3) , when completed, each provide 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 ].

2001 a. 10 .