§ 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 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 (§ 8.2A-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 ten days after receipt of the first installment of rent and security.
2. A lessee acquires the right to recover goods identified to a lease contract only if they conform to the lease contract.
History
This law was first created in 1991. The record of its establishment is cataloged in chapter 536 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1991 “Acts” aren’t available online.
1991, c. 536.