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N.D. Cent. Code § 41-09-106

(9-609) Secured party's right to take possession after default

Known as the Uniform Commercial Code

The act spans §§ 41–41 (597 sections).

1. After default, a secured party:

a. May take possession of the collateral; and b. Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under section 41-09-107.

2. A secured party may proceed under subsection 1:

a. Pursuant to judicial process; or b. Without judicial process, if it proceeds without breach of the peace.

3. 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: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.