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 § 55-9-609

Ch. 55Uniform Commercial Code

Art. 9Secured Transactions

This text of New Mexico § 55-9-609 (Secured party's right to take possession after default) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-9-609 (2026).

Text

(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.