Current through 2024 First Special Session
Section 46-9-609 - 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 section 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.