Secured party's right to take possession after default

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Uniform Commercial Code
  5. Secured Transactions
  6. Default
  7. Default and Enforcement of Security Interest
  8. Secured party's right to take possession after default

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  1. (a) After default, a secured party:

    1. (1) may take possession of the collateral; and

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

  2. (b) A secured party may proceed under subsection (a):

    1. (1) pursuant to judicial process; or

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

  3. (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.


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