New Mexico § 55-9-609 Secured party's right to take possession after default

New Mexico Statutes

§ 55-9-609 — Secured party's right to take possession after default

New Mexico·Ch. 55 Uniform Commercial Code·Art. 9 Secured Transactions

(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 55-9-610 NMSA 1978.

(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.

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(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 55-9-610 NMSA 1978. (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.

New Mexico § 55-9-609 (Secured party's right to take possession after default) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.