Section 36 Exceptions to Notice of Disposition

• Library: Secured Transactions 2005

Revised Article 9 allows the secured creditor some leniency in providing the notice of disposition of collateral to the debtor in certain situations. Such notification does not need to be made if the collateral is perishable, threatens to decline speedily in value, or is of a type customarily sold in a recognized market. See § 400.9-611(d), RSMo Supp. 2004.

First, notice of disposition is excepted if the collateral involves perishable goods. See Boatman’s Bank of Nev. v. Dahmer, 716 S.W.2d 876 (Mo. App. W.D. 1976)...