§12A-1-9-609. Secured party’s right to take possession after

132 words·~1 min read·/ok/title-12a-uniform-commercial-code/12a-1-9-609·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

default.

SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT

(a)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 Section 1-9-610 of this title.

(b)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)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. Added by Laws 2000, c. 371, § 116, eff. July 1, 2001.