70A-2a-522. Lessee's right to goods on lessor's insolvency.
(1) Subject to Subsection (2) 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 as
provided in Section 70A-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.
(2) A lessee acquires the right to recover goods identified to a lease contract only if they
conform to the lease contract.
Enacted by Chapter 197, 1990 General Session
Download Code Section Zipped WordPerfect 70A02a052200.ZIP 1,873 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009