1997 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 1997 Statutes New, Amended or Repealed
- 1997 Table of Chapters
Chapter 336
Section 336.9-503
Recent History
336.9-503 Secured party's right to take possession after default.
Unless otherwise agreed a secured party has on default the right to take possession of the collateral. In taking possession a secured party may proceed without judicial process if this can be done without breach of the peace or may proceed by action. If the security agreement so provides the 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. Without removal a secured party may render equipment unusable, and may dispose of collateral on the debtor's premises under section 336.9-504.
HIST: 1965 c 811 s 336.9-503
Official Publication of the State of Minnesota
Revisor of Statutes