§490:2A-522 Lessee's right to goods on lessor's insolvency. (a) Subject to subsection (b) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for goods identified to a lease contract (section 490:2A-217) on making and keeping good a tender of any unpaid portion of the rent and security due under the lease contract may recover the goods identified from the lessor if the lessor becomes insolvent within ten days after receipt of the first installment of rent and security.
(b) A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract. [L 1991, c 40, pt of §1]
Section: Previous 490-2a-515 490-2a-516 490-2a-517 490-2a-518 490-2a-519 490-2a-520 490-2a-521 490-2a-522 490-2a-523 490-2a-524 490-2a-525 490-2a-526 490-2a-527 490-2a-528 490-2a-529 NextLast modified: October 27, 2016