Okla. Stat. tit. 12A § 1-9-613
Except in a consumer-goods transaction, the following rules apply:
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 $_____________ ]. You may request an accounting by calling us at [telephone number] ________________.
[End of Form]
Okla. Stat. tit. 12A, § 1-9-613
Oklahoma Code Comment
Under old section 9-504(3) , reasonable notification must be given of the time and place of any public sale or of the time after which any private sale or other disposition would be made. The form of notice was left to the determination of the secured party and, presumably, the prior agreement with basically the debtor. New section 9-613 provides for the form of notice in transactions other than consumer-goods transactions, and new section 9-614 provides for the form of notice in consumer-goods transactions. When notice is given, following substantially the form of section 9-613 in a commercial transaction, the notice is sufficient and, therefore, commercially reasonable. Whether the notification for transactions, other than consumer-goods transactions, is deficient and, thus, commercially unreasonable because it lacks any of the information as required under new section 9-613, is a question of fact in each case. In Dynalectron Corporation v. Jack Richards Aircraft Co., 337 F. Supp. 650 (W. D. Okla. 1972), the question of commercial reasonableness was determined to be a question of law, except as to time and method of sale, which in some circumstances, the court stated, may involve questions of fact. The holding in Dynalectron is limited by new section 9-613 .
The decision of the Oklahoma Court of Appeals in First State Bank of Oilton v. Perryman, 746 P.2d 706 (Okla. App. 1987), however, is still good law. The court in First State held that, although noncompliance with the requirements in Article 9 to hold a commercially reasonable sale does not preclude a creditor from seeking a deficiency judgment, a creditor who fails to give the notice required under Article 9 on default will be subject to damages suffered by reason of such failure.