§ 336.9-609 — Secured Party's Right to Take Possession After Default
Plain-Language Summary
After default, the secured party may take possession of the collateral without judicial process if it can be done without breach of the peace. A secured party may also disable equipment on the debtor's premises and render it unusable.
336.9-609 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 336.9-610.
(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.
History:
History: History:
2000 c 399 art 1 s 110