Article 45 - Possession rights of Secured Party
(1) Subject to Article 48, in the event of
Default under a Security Agreement, a Secured Party may
(A) take possession of the
(B) require the
Debtor to make the Collateral available to the Secured Party at a place to be designated by the Secured Party which is reasonably convenient to both parties; and/or
(C) require the
Debtor to assemble, disassemble or disable the Collateral.
Secured Party may proceed under paragraph (1)
(A) pursuant to an Order of the
QFC Court; or
(B) without an Order of the
QFC Court, if it proceeds without breach of the peace.
(3) If the
Collateral is a Document of Title, the Secured Party may take possession of the Document of Title and/or the Goods covered by it.
Secured Party who seizes Collateral under this Part does not thereby perfect the Secured Party's Security Interest in the Collateral.