Section 12-502 - Governing law.
§ 12-502. Governing law.
(a) Default sales law to apply.- Except as provided in subsection (b) of this section, the law governing the sale of collateral securing an obligation in default governs a lienholder's repossession and sale of property that has been seized under this title.
(b) Possession before sale not required.- A lienholder may not be required to take possession of the property before the sale of the property.
[An. Code 1957, art. 27, § 297(r)(3), (4)(i); 2001, ch. 10, § 2.]