State Codes and Statutes
Statutes > North-carolina > Chapter_25 > GS_25-2A-525§25‑2A‑525. Lessor's right to possession of goods.
(1) If a lessordiscovers the lessee to be insolvent, the lessor may refuse to deliver thegoods.
(2) After a default bythe lessee under the lease contract of the type described in G.S. 25‑2A‑523(1)or G.S. 25‑2A‑523(3)(a) or, if agreed, after other default by thelessee, the lessor has the right to take possession of the goods. If the leasecontract so provides, the lessor may require the lessee to assemble the goodsand make them available to the lessor at a place to be designated by the lessorwhich is reasonably convenient to both parties. Without removal, the lessormay render unusable any goods employed in trade or business, and may dispose ofgoods on the lessee's premises (G.S. 25‑2A‑527).
(3) The lessor mayproceed under subsection (2) of this section without judicial process if it canbe done without breach of the peace or the lessor may proceed by action. (1993,c. 463, s. 1.)
