Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 9 - Secured Transactions, 55-9-101 through 55-9-710. > Section 55-9-609 - Secured party's right to take possession after default.

Section 55-9-609 - Secured party's right to take possession after default.

55-9-609. Secured party's right to take possession after default.

(a)     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 55-9-610 NMSA 1978.   

(b)     A secured party may proceed under Subsection (a) of this section:   

(1)     pursuant to judicial process; or   

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

(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.