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§12A-9-208.
§12A-9-208.
(1) A debtor may sign a statement indicating what he believes to be
the aggregate amount of unpaid indebtedness as of a specified date and
may send it to the secured party with a request that the statement be
approved or corrected and returned to the debtor. When the security
agreement or any other record kept by the secured party identifies the
collateral a debtor may similarly request the secured party to approve
or correct a list of the collateral.
(2) The secured party must comply with such a request within two (2)
weeks after receipt by sending a written correction or approval. If
the secured party claims a security interest in all of a particular
type of collateral owned by the debtor he may indicate that fact in
his reply and need not approve or correct an itemized list of such
collateral. If the secured party without reasonable excuse fails to
comply he is liable for any loss caused to the debtor thereby; and if
the debtor has properly included in his request a good faith statement
of the obligation or a list of the collateral or both the secured
party may claim a security interest only as shown in the statement
against persons misled by his failure to comply. If he no longer has
an interest in the obligation or collateral at the time the request is
received he must disclose the name and address of any successor in
interest known to him and he is liable for any loss caused to the
debtor as a result of failure to disclose. A successor in interest is
not subject to this section until a request is received by him.
(3) A debtor is entitled to such a statement once every six (6) months
without charge. The secured party may require payment of a charge not
exceeding Ten Dollars ($10.00) for each additional statement
furnished.
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