CHAPTER 206A

REPOSSESSION

206A.01          Rules Governing Repossession

If a default has occurred in the terms and conditions of a loan in which an Indian has executed a valid waiver of collateral as defined in Section 100.031 of the Red Lake Tribal Code, the creditor may enter upon the lands of the Red Lake Indian Reservation to take possession of the collateral which secures the loan.

206A.02          Peaceful Repossession

The creditor, in taking possession of collateral as provided in Section 206A.01 hereof, may proceed without judicial process if the repossession of the collateral can be accomplished without a breach of the peace and on the condition that the debtor executes a written statement that he/she has voluntarily relinquished possession of the collateral to the creditor.

(Chapter 206A.01 and 206A.02 added by Resolution No. 52-92 dated Tuesday, February 11, 1992)