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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 2A. · Article 2A. LEASES · Part 5. DEFAULT

11-2A-522. Lessee’s right to goods on lessor’s insolvency.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (1)

    Subject to subsection (2) 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 (Code Section 11-2A-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.#

  2. (2)

    A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-2A-522, enacted by Ga. L. 1993, p. 633, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 322 to 323; merge action: carried; file SHA-256 ad397fccbf21.