2013 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 2-A: LEASES
11 §2-1525. Lessor's right to possession of goods
Part 5: DEFAULT
2-1525. 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.
[ 1991, c. 805, 4 (NEW) .]
(2). After a default by the lessee under the lease contract of the type described in section 2-1523, subsection (1) or section 2-1523, subsection (3), paragraph (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 that 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 2-1527).
[ 1991, c. 805, 4 (NEW) .]
(3). The lessor may proceed under subsection (2) without judicial process if possible without breach of the peace or the lessor may proceed by action.
[ 1991, c. 805, 4 (NEW) .]
SECTION HISTORY
1991, c. 805, 4 (NEW). RR 2003, c. 1, 6 (COR).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
