Secured Transactions

ORS 79.0609
UCC 9-609. Secured party’s right to take possession after default


(1)

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 ORS 79.0610 (UCC 9-610. Disposition of collateral after default).

(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]
Chapter 79

Notes of Decisions

Where creditor with prior perfected secured interest opts not to exercise elective remedies against debtor, creditor maintains security interest and subsequent garnishor takes subject to creditor so that may trace and recapture collateral funds from garnishor. Davis v. F.W. Financial Services, Inc., 260 Or App 191, 317 P3d 916 (2013), Sup Ct review denied


Source

Last accessed
Jun. 26, 2021