Current through 2024 NY Law Chapter 553
Section 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 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.