8.9A-609 - A-609. Secured party's right to take possession after default. - Virginia Statutes

§ 8.9A-609. Secured party's right to take possession after default.

(a) Possession; rendering equipment unusable; disposition on debtor'spremises. After default, a secured party:

(1) may take possession of the collateral; and

(2) without removal, may render equipment unusable and dispose of collateralon a debtor's premises under § 8.9A-610.

(b) Judicial and nonjudicial process. A secured party may proceed undersubsection (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, asecured party may require the debtor to assemble the collateral and make itavailable to the secured party at a place to be designated by the securedparty which is reasonably convenient to both parties.

(1964, c. 219, § 8.9-503; 2000, c. 1007.)