Section 2-A-525. Lessor's Right to Possession of Goods  


Latest version.
  • (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 Section 2-A-523(1) or 2-A-523(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 (Section 2-A-527).
        (3)  The  lessor  may  proceed  under  subsection (2) without judicial
      process if it can be done without breach of the peace or the lessor  may
      proceed by action.