§ 6-51-4 - Repossession of automobile as a result of default under a loan or lease agreement.
SECTION 6-51-4
§ 6-51-4 Repossession of automobile as aresult of default under a loan or lease agreement. – (a) Subject to the provisions of § 6-50-3, of this chapter, a lessor orsecured party under a consumer automobile lease or loan agreement may takepossession of the automobile. In taking possession the lessor or secured partyunder a consumer automobile lease or loan agreement may proceed without priorhearing pursuant to § 6-50-3, and only if the possession can be obtainedwithout a breach of peace and, unless the consumer consents to an entry, at thetime of such entry, without entry upon property owned by, or rented to theconsumer, except as provided for in chapter 39-12.1.
(b) Any lessor or secured party obtaining possession of anautomobile under the provisions of this chapter shall notify the policedepartment of the city or town in which such possession occurred pursuant to§ 6A-9-609(B)(2).
(c) The consumer under an automobile lease or loan agreementmay redeem the automobile from the lessor or secured party and have theautomobile lease or loan agreement reinstated at any time within twenty (20)days of the lessor's or secured party's taking possession of the automobile, orthereafter until the lessor or secured party has either disposed of theautomobile, entered into a contract for its disposition, or gained the right toretain the automobile.
(d) The lessor or secured party may after gaining possessionof the automobile sell or otherwise dispose of the automobile after the twenty(20) day redemption period provided for in subsection (c) of this section.