554.9613  Contents and form of notification before disposition of collateral — general.
  Except in a consumer-goods transaction, the following rules apply:
  1.  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.  Whether the contents of a notification that lacks any of the information specified in subsection 1 are nevertheless sufficient is a question of fact.
  3.  The contents of a notification providing substantially the information specified in subsection 1 are sufficient, even if the notification includes:
  a.  information not specified by that subsection; or
  b.  minor errors that are not seriously misleading.
  4.  A particular phrasing of the notification is not required.
  5.  The following form of notification and the form appearing in section 554.9614, subsection 3, when completed, each provides 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 ................ dollars]. You may request an accounting by calling us at [telephone number].
2000 Acts, ch 1149, §111, 187