§ 25-9-609. Secured party's right to take possession after default. - North Carolina Statutes

§25‑9‑609.  Secured party's right to take possession after default.

(a)        Possession;rendering equipment unusable; disposition on debtor's premises. – Afterdefault, a secured party:

(1)        May take possessionof the collateral; and

(2)        Without removal, mayrender equipment unusable and dispose of collateral on a debtor's premisesunder G.S. 25‑9‑610.

(b)        Judicial andnonjudicial process. – A secured party may proceed under subsection (a) of thissection:

(1)        Pursuant to judicialprocess; or

(2)        Without judicialprocess, if it proceeds without breach of the peace.

(c)        Assembly ofcollateral. – If so agreed, and in any event after default, a secured party mayrequire the debtor to assemble the collateral and make it available to thesecured party at a place to be designated by the secured party which isreasonably convenient to both parties. (1961, c. 574; 1965, c. 700,s. 1; 1975, c. 862, s. 7; 2000‑169, s. 1.)