SB9-SSA1,161,3 (4) Subsection (2) inapplicable: perishable collateral; recognized market. Subsection (2) 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.

SB9-SSA1,161,5 (5) Compliance with sub. (3) (c) 2. A secured party complies with the requirement for notification prescribed by sub. (3) (c) 2. if:

SB9-SSA1,161,9 (a) Not later than 20 days or earlier than 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 sub. (3) (c) 2.; and

SB9-SSA1,161,10 (b) Before the notification date, the secured party:

SB9-SSA1,161,11 1. Did not receive a response to the request for information; or

SB9-SSA1,161,14 2. Received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.

SB9-SSA1,161,17 409.612 Timeliness of notification before disposition of collateral. (1) Reasonable time is question of fact. Except as otherwise provided in sub. (2), whether a notification is sent within a reasonable time is a question of fact.

SB9-SSA1,161,21 (2) Ten-day period sufficient in nonconsumer transaction. In a transaction other than a consumer transaction, a notification of disposition sent after default and 10 days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.

SB9-SSA1,161,24 409.613 Contents and form of notification before disposition of collateral: general. Except in a consumer-goods transaction, the following rules apply:

SB9-SSA1,162,2 (1) Notification: when sufficient. The contents of a notification of disposition are sufficient if the notification:

SB9-SSA1,162,3 (a) Describes the debtor and the secured party;

SB9-SSA1,162,4 (b) Describes the collateral that is the subject of the intended disposition;

SB9-SSA1,162,5 (c) States the method of intended disposition;

SB9-SSA1,162,7 (d) States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and

SB9-SSA1,162,9 (e) States the time and place of a public disposition or the time after which any other disposition is to be made.

SB9-SSA1,162,12 (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.

SB9-SSA1,162,15 (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:

SB9-SSA1,162,16 (a) Information not specified by sub. (1); or

SB9-SSA1,162,17 (b) Minor errors that are not seriously misleading.

SB9-SSA1,162,19 (4) Substantial compliance. A particular phrasing of the notification is not required.

SB9-SSA1,162,22 (5) Notification: form sufficient. The following form of notification and the form appearing in s. 409.614 (3), when completed, each provide sufficient information:

SB9-SSA1,162,24 NOTIFICATION OF DISPOSITION OF COLLATERAL

SB9-SSA1,162,25 To: .... [Name of debtor, obligor, or other person to which the notification is sent]

SB9-SSA1,163,1 From: .... [Name, address, and telephone number of secured party]

SB9-SSA1,163,2 Name of Debtor(s): .... [Include only if debtor(s) are not an addressee]

SB9-SSA1,163,3 [For a public disposition]:

SB9-SSA1,163,5 We will sell [or lease or license, as applicable] the .... [describe collateral] [to the highest qualified bidder] in public as follows:

SB9-SSA1,163,6 Day and Date: ....

SB9-SSA1,163,7 Time: ....