Ark. Code Ann. § 4-9-609

Secured party's right to take possession after default

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Applied in 3 court decisions — leading case Gibson v. Regions Financial Corp. (2009)

Most recently applied in Jorja Trading, Inc. v. Willis (November 2018)

Acts 2001, No. 1439, § 1.

(1) After default, a secured party: may take possession of the collateral; and

(2) without removal, may render equipment unusable and dispose of collateral on a debtor's premises under § 4-9-610.

(3) A secured party may proceed under subsection (a): pursuant to judicial process; or

(4) without judicial process, if it proceeds without breach of the peace.

(5) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.