Ind. Code § 26-1-9.1-609

Secured party's right to take possession after default

Known as the Uniform Commercial Code

The act spans §§ 26-1-1-0.2 to 26-1-9.1-902 (630 sections).

Applied in 2 court decisions — leading case Allen v. First National Bank of Monterey (2006)

Most recently applied in Nichole L. Richards v. Par, Inc. (March 2020)

As added by P.L.57-2000, SEC.45.

Sec. 609. (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 IC 26-1-9.1-610.

(b) 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) 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.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.