47-2A525. Lessor's right to possession of goods
A. If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods.
B. After a default by the lessee under the lease contract of the type described in section 47-2A523, subsection A or section 47-2A523, subsection C, paragraph 1 or, if agreed, after other default by the lessee, the lessor has the right to take possession of the goods. If the lease contract so provides, the lessor may require the lessee to assemble the goods and make them available to the lessor at a place to be designated by the lessor which is reasonably convenient to both parties. Without removal, the lessor may render unusable any goods employed in trade or business, and may dispose of goods on the lessee's premises (section 47-2A527).
C. The lessor may proceed under subsection B of this section without judicial process if it can be done without breach of the peace or the lessor may proceed by action.
Section: Previous 47-2a518 47-2a519 47-2a520 47-2a521 47-2a522 47-2a523 47-2a524 47-2a525 47-2a526 47-2a527 47-2a528 47-2a529 47-2a530 47-2a531 47-2a532 NextLast modified: October 13, 2016