§ 2A-524. Lessor's Right to Identify Goods to Lease Contract
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 2A-524
§ 2A-524. Lessor's Right to Identify Goods to Lease Contract
(1) After default by the lessee under the lease contract of the type described in either subsection (1) of Section 2A-523 of this title or paragraph (a) of subsection (3) of Section 2A-523 of this title, or, if agreed, after other default by the lessee, the lessor may:
(2) If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may either complete manufacture and wholly identify the goods to the lease contract or cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value or proceed in any other reasonable manner.
Credits
Laws 1988, c. 86, § 71, eff. Nov. 1, 1988; Laws 1991, c. 117, § 135, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 2A-524, OK ST T. 12A § 2A-524
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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