Sec. 2A.522. LESSEE'S RIGHT TO GOODS ON LESSOR'S INSOLVENCY. (a) Subject to Subsection (b) 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 2A.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 10 days after receipt of the first installment of rent and security.
(b) A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract.
Added by Acts 1993, 73rd Leg., ch. 570, Sec. 1, eff. Sept. 1, 1993.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Section 2A.501. Default: Procedure
Section 2A.502. Notice After Default
Section 2A.503. Modification or Impairment of Rights and Remedies
Section 2A.504. Liquidation of Damages
Section 2A.506. Statute of Limitations
Section 2A.507. Proof of Market Rent
Section 2A.508. Lessee's Remedies
Section 2A.509. Lessee's Rights on Improper Delivery; Rightful Rejection
Section 2A.510. Installment Lease Contracts: Rejection and Default
Section 2A.511. Merchant Lessee's Duties as to Rightfully Rejected Goods
Section 2A.512. Lessee's Duties as to Rightfully Rejected Goods
Section 2A.513. Cure by Lessor of Improper Tender or Delivery; Replacement
Section 2A.514. Waiver of Lessee's Objections
Section 2A.515. Acceptance of Goods
Section 2A.517. Revocation of Acceptance of Goods
Section 2A.518. Cover; Substitute Goods
Section 2A.520. Lessee's Incidental and Consequential Damages
Section 2A.521. Lessee's Right to Specific Performance, Replevin, and Other Remedies
Section 2A.522. Lessee's Right to Goods on Lessor's Insolvency
Section 2A.523. Lessor's Remedies
Section 2A.524. Lessor's Right to Identify Goods to Lease Contract
Section 2A.525. Lessor's Right to Possession of Goods
Section 2A.526. Lessor's Stoppage of Delivery in Transit or Otherwise
Section 2A.527. Lessor's Rights to Dispose of Goods
Section 2A.528. Lessor's Damages for Nonacceptance, Failure to Pay, Repudiation, or Other Default
Section 2A.529. Lessor's Action for the Rent
Section 2A.530. Lessor's Incidental Damages
Section 2A.531. Standing to Sue Third Parties for Injury to Goods