§ 26-1-2.1-525 — Lessor's right to possession of goods

Indiana § 26-1-2.1-525

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 2.1: Leases

Text

(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 IC 26-1-2.1-523(1) or IC 26-1-2.1-523(3)(a) 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 (IC 26-1-2.1-527).
(3) The lessor may proceed under subsection (2) without judicial
process if that can be done without breach of the peace or the lessor
may proceed by action.

Legislative History

As added by P.L.189-1991, SEC.3.