(a) “Notification date.” — 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 an authenticated notification of disposition; or
(2) the debtor and any secondary obligor waive the right to notification.
(b) Notification of disposition required. — Except as otherwise provided in subsection (d), a secured party that disposes of collateral under Section 9-610 shall send to the persons specified in subsection (c) a reasonable authenticated notification of disposition.
(c) Persons to be notified. — To comply with subsection (b), the secured party shall send an authenticated notification of disposition to:
(1) the debtor;
(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, an authenticated notification of a claim of an interest in the collateral;
(B) any other secured party or lienholder that, 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, 10 days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 9-311(a).
(d) Subsection (b) inapplicable:
(e) Compliance with subsection (c)(3)(B). — A secured party complies with the requirement for notification prescribed by subsection (c)(3)(B) if:
(1) 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 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 an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral.
Structure Delaware Code
Article 9. Secured Transactions
§ 9-602. Waiver and variance of rights and duties.
§ 9-603. Agreement on standards concerning rights and duties.
§ 9-604. Procedure if security agreement covers real property or fixtures.
§ 9-605. Unknown debtor or secondary obligor.
§ 9-606. Time of default for agricultural lien.
§ 9-607. Collection and enforcement by secured party.
§ 9-609. Secured party's right to take possession after default.
§ 9-610. Disposition of collateral after default.
§ 9-611. Notification before disposition of collateral.
§ 9-612. Timeliness of notification before disposition of collateral.
§ 9-613. Contents and form of notification before disposition of collateral: general.
§ 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.
§ 9-616. Explanation of calculation of surplus or deficiency.
§ 9-617. Rights of transferee of collateral.
§ 9-618. Rights and duties of certain secondary obligors.
§ 9-619. Transfer of record or legal title.
§ 9-621. Notification of proposal to accept collateral.
§ 9-622. Effect of acceptance of collateral.
§ 9-623. Right to redeem collateral.
§ 9-625. Remedies for secured party's failure to comply with article.
§ 9-626. Action in which deficiency or surplus is in issue.
§ 9-627. Determination of whether conduct was commercially reasonable.
§ 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.