Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 9. SECURED TRANSACTIONS |
Part 6. DEFAULT |
SubPart 1. DEFAULT AND ENFORCEMENT OF SECURITY INTEREST |
Section 9--609. Secured Party's Right to Take Possession after Default
Latest version.
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(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): (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.