12A:9-609 - Secured party's right to take possession after default
12A:9-609 Secured party's right to take possession after default.
12A: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 12A:9-610.
(b)Judicial and nonjudicial process. 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)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.
L.2001, c.117, s.1; amended 2001, c.386, s.98.