§ 25-9-609. Secured party's right to take possession after default.
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§ 25-9-609. Secured party's right to take possession after default.
(a)Possession; rendering equipment unusable; disposition on debtor's premises. - After default, a secured party:
(1)May take possession of the collateral; and
(2)Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under G.S. 25-9-610.
(b)Judicial and nonjudicial process. - A secured party may proceed under subsection
(a)of this section:
(1)Pursuant to judicial process; or
(2)Without judicial process, if it proceeds without breach of the peace.
(c)Assembly of collateral. - If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties. (1961, c. 574; 1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)