TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 9

SECURED TRANSACTIONS

PART 6.

DEFAULT

28-9-609.  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 28-9-610.

(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.

History:

[28-9-609, added 2001, ch. 208, sec. 2, p. 784.]