Section 45.29.609. 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 AS 45.29.610.
   (b) A secured party may proceed under subsection (a) of this section
        (1) in accordance with 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 that is reasonably convenient to both parties.

Authorities

45.29.102;45.29.602;45.29.603

Notes

References

AS 45.29.102 Definitions.
AS 45.29.602 Waiver and variance of rights and duties.
AS 45.29.603 Agreement on standards concerning rights and duties.

History

(Sec. 1 ch 113 SLA 2000)