Secured party's right to take possession after default

  1. Law
  2. Mississippi Code
  3. Regulation of Trade, Commerce and Investments
  4. Uniform Commercial Code-Secured Transactions
  5. Default
  6. Default and Enforcement of Security Interest
  7. Secured party's right to take possession after default

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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 Section 75-9-610.

A secured party may proceed under subsection (a):

Pursuant to judicial process; or

Without judicial process, if it proceeds without breach of the peace.

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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