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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-2A-525. Lessor's right to possession of goods.  

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  • LESSOR'S RIGHT TO POSSESSION OF GOODS

    (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 subsection (1) of Section 2A-523 or paragraph (a) of subsection (3) of Section 2A-523 of this title 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 2A-527 of this title).

    (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.

Added by Laws 1988, c. 86, § 72, eff. Nov. 1, 1988.  Amended by Laws 1991, c. 117, § 21, eff. Jan. 1, 1992.