Oregon Statutes 79.0609 – UCC 9-609. Secured partys right to take possession after default
Current as of: 2023 | Check for updates
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(1) After default, a secured party:
Terms Used In Oregon Statutes 79.0609
- Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
- Equipment: means goods other than inventory, farm products or consumer goods. See Oregon Statutes 79.0102
(a) May take possession of the collateral; and
(b) Without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under ORS § 79.0610.
(2) A secured party may proceed under subsection (1) of this section:
(a) Pursuant to judicial process; or
(b) 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 which is reasonably convenient to both parties. [2001 c.445 § 107]