§ 25-2A-522. Lessee's right to goods on lessor's insolvency. - North Carolina Statutes

§25‑2A‑522.  Lessee's right to goods on lessor's insolvency.

(1)        Subject tosubsection (2) of this section and even though the goods have not been shipped,a lessee who has paid a part or all of the rent and security for goodsidentified to a lease contract (G.S. 25‑2A‑217) on making andkeeping good a tender of any unpaid portion of the rent and security due underthe lease contract may recover the goods identified from the lessor if thelessor becomes insolvent within 10 days after receipt of the first installmentof rent and security.

(2)        A lessee acquiresthe right to recover goods identified to a lease contract only if they conformto the lease contract. (1993, c. 463, s. 1.)