Public-domain · open source

Wis. Stat. § 409.609

Secured party’s right to take possession after default

Applied in 2 court decisions — leading case Danelle Duncan v. Asset Recovery Specialists, Inc. (2022)

Most recently applied in Danelle Duncan v. Asset Recovery Specialists, Inc. (January 2022)

2001 a. 10.

(1) POSSESSION; RENDERING EQUIPMENT UNUSABLE; DISPOSITION ON DEBTOR’S PREMISES. 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 s. 409.610.

(2) JUDICIAL AND NONJUDICIAL PROCESS. A secured party may proceed under sub. (1):

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

(3) ASSEMBLY OF COLLATERAL. 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: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.