Okla. Stat. tit. 12A, § 12A-2A-529

This is the official text of Okla. Stat. tit. 12A, § 12A-2A-529, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.

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Lessor's action for the rent

Official statutory text

LESSOR'S ACTION FOR THE RENT

(1) After default by the lessee under the lease contract of the

type described in subsection (1) of Section 2A-523 or paragraph (a)

of subsection (3) of Section 2A-523 of this title, or, if agreed,

after other default by the lessee, if the lessor complies with

subsection (2) of this section, the lessor may recover from the

lessee as damages:

(a) for goods accepted by the lessee and not repossessed

by or tendered to the lessor, and for conforming goods

lost or damaged within a commercially reasonable time

after risk of loss passes to the lessee (Section 2A-

219 of this title):

(i) accrued and unpaid rent as of the date of entry

of judgment in favor of the lessor,

(ii) the present value as of the same date of the rent

for the then remaining lease term of the lease

agreement, and

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 278

(iii) any incidental damages allowed under Section 2A-

530 of this title, less expenses saved in

consequence of the lessee's default; and

(b) for goods identified to the lease contract if the

lessor is unable after reasonable effort to dispose of

them at a reasonable price or the circumstances

reasonably indicate that effort will be unavailing:

(i) accrued and unpaid rent as of the date of entry

of judgment in favor of the lessor,

(ii) the present value as of the same date of the rent

for the then remaining lease term of the lease

agreement, and

(iii) any incidental damages allowed under Section 2A-

530 of this title, less expenses saved in

consequence of the lessee's default.

(2) Except as provided in subsection (3) of this section, the

lessor shall hold for the lessee for the remaining lease term of the

lease agreement any goods that have been identified to the lease

contract and are in the lessor's control.

(3) The lessor may dispose of the goods at any time before

collection of the judgment for damages obtained pursuant to

subsection (1) of this section. If the disposition is before the

end of the remaining lease term of the lease agreement, the lessor's

recovery against the lessee for damages is governed by Section 2A-

527 or 2A-528 of this title, and the lessor will cause an

appropriate credit to be provided against a judgment for damages to

the extent that the amount of the judgment exceeds the recovery

available pursuant to Section 2A-527 or 2A-528 of this title.

(4) Payment of the judgment for damages obtained pursuant to

subsection (1) of this section entitles the lessee to the use and

possession of the goods not then disposed of for the remaining lease

term of and in accordance with the lease agreement.

(5) After default by the lessee under the lease contract of the

type described in either subsection (1) of Section 2A-523 of this

title or paragraph (a) of subsection (3) of Section 2A-523 of this

title or, if agreed, after other default by the lessee, a lessor who

is held not entitled to rent under this section must nevertheless be

awarded damages for nonacceptance under Sections 2A-527 or 2A-528 of

this title.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.