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§ 2A-526. Lessor's Stoppage of Delivery in Transit or Otherwise

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 2a. Leases (Refs & Annos)
12A Okl.St.Ann. § 2A-526
§ 2A-526. Lessor's Stoppage of Delivery in Transit or Otherwise
Currentness
LESSOR'S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE
(1) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to be insolvent and may stop delivery of carload, truckload, planeload, or larger shipments of express or freight if the lessee repudiates or fails to make a payment due before delivery, whether for rent, security or otherwise under the lease contract, or for any other reason the lessor has a right to withhold or take possession of the goods.
(2) In pursuing its remedies under subsection (1) of this section, the lessor may stop delivery until:
(a) receipt of the goods by the lessee;
(b) acknowledgement to the lessee by any bailee of the goods, except a carrier, that the bailee holds the goods for the lessee; or
(c) such an acknowledgment to the lessee by a carrier via reshipment or as a warehouse.
(3) (a) To stop delivery, a lessor shall so notify as to enable the bailee by reasonable diligence to prevent delivery of the goods.
(b) After notification, the bailee shall hold and deliver the goods according to the directions of the lessor, but the lessor is liable to the bailee for any ensuing charges or damages.
(c) A carrier who has issued a nonnegotiable bill of lading is not obligated to obey a notification to stop received from a person other than the consignor.

Credits

Laws 1988, c. 86, § 73, eff. Nov. 1, 1988; Laws 2005, c. 140, § 55, eff. Jan. 1, 2006.
12A Okl. St. Ann. § 2A-526, OK ST T. 12A § 2A-526
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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