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Codified Laws

57A-9-609Secured party's rights with respect to collateral following 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 § 57A-9-610.

(b) A secured party may proceed under subsection (a):

(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.

Source: SL 2000, ch 231.

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