2017 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 9 - Secured Transactions
Part 6 - DEFAULT
Subpart 1 - . DEFAULT AND ENFORCEMENT OFSECURITY INTEREST
Section 55-9-609 - Secured party's right to take possession after default.
55-9-609. 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 Section 55-9-610 NMSA 1978.
(b) A secured party may proceed under Subsection (a) of this section:
(1) pursuant to 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 which is reasonably convenient to both parties.
History: 1978 Comp., 55-9-609, enacted by Laws 2001, ch. 139, 106.