Iowa Code § 554.9609

Current through bills signed by governor as of 5/17/2024

Section 554.9609 - Secured party's right to take possession after default

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

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 section 554.9610.

2.Judicial and nonjudicial process. A secured party may proceed under subsection 1:

a. pursuant to judicial process; or

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

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.

Iowa Code § 554.9609

2000 Acts, ch 1149, §107, 187

Referred to in §554.9102, 554.9602, 554.9603