New Jersey § 12a:9-601
Full text of New Jersey New Jersey Statutes § 12a:9-601, with citation guidance and answers to common questions.
§ 12a:9-601.
(a) Rights of secured party after default. After default, a secured party has the rights provided in this part and, except
as otherwise provided in 12A:9-602, those provided by agreement of the parties. A secured party: (1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security
interest, or agricultural lien by any available judicial procedure; and (2) if the collateral is documents, may proceed either as to the documents or as to
the goods they cover. (b) Rights and duties of secured party in possession or control. A secured party in possession of collateral or control of collateral under 12A:7-106, 12A:9-104, 12A:9-105, 12A:9-106 or 12A:9-107 has the rights and duties provided in
12A:9-207. (c) Rights cumulative; simultaneous exercise. The rights under subsections (a) and (b) are cumulative and may be exercised simultaneously. (d) Rights of debtor and obligor. Except as otherwise provided in subsection (g) and 12A:9-605, after default, a debtor
and an obligor have the rights provided in this part and by agreement of the parties. (e) Lien of levy after judgment. If a secured party has reduced its claim to judgment, the lien of any levy that
may be made upon the collateral by virtue of an execution based upon the judgment
relates back to the earliest of: (1) the date of perfection of the security interest or agricultural lien in the collateral; (2) the date of filing a financing statement covering the collateral; or (3) any date specified in a statute under which the agricultural lien was created. (f) Execution sale. A sale pursuant to an execution is a foreclosure of the security interest or agricultural
lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free
of any other requirements of this chapter. (g) Consignor or buyer of certain rights to payment. Except as otherwise provided in 12A:9-607 (c), this part imposes no duties upon
a secured party that is a consignor or is a buyer of accounts, chattel paper, payment
intangibles, or promissory notes.
Frequently Asked Questions About New Jersey § 12a:9-601
What does New Jersey Statutes § 12a:9-601 cover?
Section 12a:9-601 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:9-601?
A common citation format is "New Jersey Statutes § 12a:9-601" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:9-601 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.