Iowa Code 554.9609 – Secured party’s right to take possession after default
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554.9609 Secured party’s right to take possession after default.
1. Possession — rendering equipment unusable — disposition on debtor’s premises. After
default, a secured party:
a. may take possession of the collateral; and
b. without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under § 554.9610.
2. Judicial and nonjudicial process. A secured party may proceed under subsection 1:
a. pursuant to judicial process; or
b. without judicial process, if it proceeds without breach of the peace.
3. 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.
2000 Acts, ch 1149, §107, 187
Referred to in §554.9102, 554.9602, 554.9603
1. Possession — rendering equipment unusable — disposition on debtor’s premises. After
default, a secured party:
a. may take possession of the collateral; and
b. without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under § 554.9610.
2. Judicial and nonjudicial process. A secured party may proceed under subsection 1:
a. pursuant to judicial process; or
b. without judicial process, if it proceeds without breach of the peace.
3. 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.
2000 Acts, ch 1149, §107, 187
Referred to in §554.9102, 554.9602, 554.9603