Current through Chapter 381 of the 2024 Legislative Session
Section 361-A:22 - Requirements and Prohibitions as to the Notice of DispositionI. After repossession, if the vehicle is not accepted as satisfaction in full, the licensee must send the borrower a notice of disposition prior to the sale of the vehicle.II. The notice of disposition must contain the following information: (a) Description of the borrower and the licensee;(b) Description of the collateral that is the subject of the intended disposition;(c) The method of intended disposition;(d) Information stating that the borrower is entitled to an accounting of the unpaid indebtedness;(e) Stating the time and place of a public disposition or the time after which any other disposition is to be made;(f) A description of any liability for a deficiency of the borrower;(g) The amount that must be paid to the licensee to redeem the collateral; and(h) A telephone number or mailing address from which additional information concerning the disposition and the obligation secured is available.Amended by 2024, 330:1, eff. 7/1/2024.