Illinois Compiled Statutes 810 ILCS 5 Uniform Commercial Code. Section 9-609

    (810 ILCS 5/9-609)

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

    (a) Possession; rendering equipment unusable; disposition on debtor's premises. 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 9-610.

    (b) Judicial and nonjudicial process. A secured party may proceed under subsection (a):

        (1) pursuant to judicial process; or

        (2) without judicial process, if it proceeds without

    breach of the peace.

    (c) 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.

(Source: P.A. 91-893, eff. 7-1-01.)

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Last modified: February 18, 2015