409.609 Secured party's right to take possession after default. - Wisconsin Statutes

409.609

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

409.609(1)

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

409.609(1)(a)

(a) May take possession of the collateral; and

409.609(1)(b)

(b) Without removal, may render equipment unusable and dispose of collateral on a debtor's premises under s. 409.610.

409.609(2)

(2) Judicial and nonjudicial process. A secured party may proceed under sub. (1):

409.609(2)(a)

(a) Pursuant to judicial process; or

409.609(2)(b)

(b) Without judicial process, if it proceeds without breach of the peace.

409.609(3)

(3) 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.

409.609 - ANNOT.

History: 2001 a. 10.