(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 AS 45.12.523 (a) or (c)(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 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 that 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 under AS 45.12.527 .
(c) The lessor may proceed under (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 45.12.518 45.12.519 45.12.520 45.12.521 45.12.522 45.12.523 45.12.524 45.12.525 45.12.526 45.12.527 45.12.528 45.12.529 45.12.530 45.12.531 45.12.532 NextLast modified: November 15, 2016