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This entry was published on 2014-09-22
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SECTION 2-A-522
Lessee's Right to Goods on Lessor's Insolvency
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 2-A, PART 5
Section 2-A-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 (Section 2-A-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.