355.2A -525 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. (2) After a default by the lessee under the lease contract of the type described in KRS 355.2A -523(1) or 355.2A -523(3)(a) or, if agreed, after other default by th e 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 reasonab ly 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 (KRS 355.2A -527). (3) The lessor may proceed under subsection (2) without judicial pro cess if it can be done without breach of the peace or the lessor may proceed by action. Effective: January 1, 1993 History: Amended 1992 Ky. Acts ch. 116, sec. 19, effective January 1, 1993 -- Created 1990 Ky. Acts ch. 363, sec. 72, effective January 1, 19 91.
Kentucky Legal Code