(1) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods.
(2) After a default by the lessee under the lease contract of the type described in ORS 72A.5230 (1) and (3)(a) 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 as provided in ORS 72A.5270.
(3) The lessor may proceed under subsection (2) of this section without judicial process if it can be done without breach of the peace or the lessor may proceed by action. [1989 c.676 §72; 1993 c.646 §16]
Section: Previous 72A.5180 72A.5190 72A.5200 72A.5210 72A.5220 72A.5230 72A.5240 72A.5250 72A.5260 72A.5270 72A.5280 72A.5290 72A.5295 72A.5300 72A.5310 NextLast modified: August 7, 2008