Michigan Compiled Laws § 440.9609 Secured Party's Right To Take Possession After Default.


440.9609 Secured party's right to take possession after default.

Sec. 9609.

(1) After default, a secured party may do 1 or more of the following:

(a) Take possession of the collateral.

(b) Without removal, render equipment unusable and dispose of collateral on a debtor's premises under section 9610.

(2) A secured party may proceed under subsection (1) either pursuant to judicial process, or without judicial process if it proceeds without breach of the peace.

(3) 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 that is reasonably convenient to both parties.


History: Add. 2000, Act 348, Eff. July 1, 2001


Section: Previous  440.9602  440.9603  440.9604  440.9605  440.9606  440.9607  440.9608  440.9609  440.9610  440.9611  440.9612  440.9613  440.9614  440.9615  440.9616  Next

Last modified: October 10, 2016