Can you summarize IACO 554.9609?

Short Summary

1.Possession rendering equipment unusable disposition on debtors 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 debtors 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. 2000 Acts, ch 1149, 107, 187 Referred to in 554.9102, 554.9602, 554.9603

Jurisdiction

Iowa

Source

• Banking