Section 9--609. Secured Party's Right to Take Possession after Default.\n (a) Possession; rendering equipment unusable; disposition on debtor's\npremises. After default, a secured party:\n (1) may take possession of the collateral; and\n (2) without removal, may render equipment unusable and dispose of\n collateral on a debtor's premises under Section 9--610.\n (b) Judicial and nonjudicial process. A secured party may proceed\nunder subsection (a):\n (1) pursuant to judicial process; or\n (2) without judicial process, if it proceeds without breach of\n the peace.\n (c) Assembly of collateral. If so agreed, and in any event after\ndefault, a secured party may require the debtor to assemble the\ncollateral and make it available to the secured party at a place to be\ndesignated by the secured party which is reasonably convenient to both\nparties.\n
N.Y. U.C.C. 9-609
Secured Party's Right to Take Possession after Default
Known as the Uniform Commercial Code
The act spans §§ 1–12 (253 sections).
Applied in 1 court decision — leading case Bank of Am., N.A. v. Won Sam Yi, an Individual, Sung Eun Yi, an Individual, Comprehensive Cancer Servs. Oncology, P.C. (2018)
Most recently applied in Bank of Am., N.A. v. Won Sam Yi, an Individual, Sung Eun Yi, an Individual, Comprehensive Cancer Servs. Oncology, P.C. (March 2018)
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.