8.2A-522 - A-522. Lessee's right to goods on lessor's insolvency. - Virginia Statutes

§ 8.2A-522. Lessee's right to goods on lessor's insolvency.

(1) Subject to subsection (2) of this section and even though the goods havenot been shipped, a lessee who has paid a part or all of the rent andsecurity for goods identified to a lease contract (§ 8.2A-217) on making andkeeping good a tender of any unpaid portion of the rent and security dueunder the lease contract may recover the goods identified from the lessor ifthe lessor becomes insolvent within ten days after receipt of the firstinstallment of rent and security.

(2) A lessee acquires the right to recover goods identified to a leasecontract only if they conform to the lease contract.

(1991, c. 536.)