§ 12-502. Governing law

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(a) Default sales law to apply. -- Except as provided in subsection (b) of this section, the law governing the sale of collateral securing an obligation in default governs a lienholder's repossession and sale of property that has been seized under this title.

(b) Possession before sale not required. -- A lienholder may not be required to take possession of the property before the sale of the property.

HISTORY: An. Code 1957, art. 27, § 297(r)(3), (4)(i); 2001, ch. 10, § 2.

                    
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