Okla. Stat. tit. 12A, § 12A-2A-531
This is the official text of Okla. Stat. tit. 12A, § 12A-2A-531, 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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Standing to sue third parties for injury to goods
Official statutory text
STANDING TO SUE THIRD PARTIES FOR INJURY TO GOODS
(1) If a third party so deals with goods that have been
identified to a lease contract as to cause actionable injury to a
party to the lease contract:
(a) the lessor has a right of action against the
third party, and
(b) the lessee also has a right of action against
the third party if the lessee:
(i) has a security interest in the goods;
(ii) has an insurable interest in the goods; or
(iii) bears the risk of loss under the lease
contract or has since the injury assumed that risk as against the
lessor and the goods have been converted or destroyed.
(2) If at the time of the injury the party plaintiff did not
bear the risk of loss as against the other party to the lease
contract and there is no arrangement between them for disposition of
the recovery, his suit or settlement, subject to his own interest,
is as a fiduciary for the other party to the lease contract.
(3) Either party with the consent of the other may sue for the
benefit of whom it may concern.
(1) If a third party so deals with goods that have been
identified to a lease contract as to cause actionable injury to a
party to the lease contract:
(a) the lessor has a right of action against the
third party, and
(b) the lessee also has a right of action against
the third party if the lessee:
(i) has a security interest in the goods;
(ii) has an insurable interest in the goods; or
(iii) bears the risk of loss under the lease
contract or has since the injury assumed that risk as against the
lessor and the goods have been converted or destroyed.
(2) If at the time of the injury the party plaintiff did not
bear the risk of loss as against the other party to the lease
contract and there is no arrangement between them for disposition of
the recovery, his suit or settlement, subject to his own interest,
is as a fiduciary for the other party to the lease contract.
(3) Either party with the consent of the other may sue for the
benefit of whom it may concern.
Status: in_force · Read it on the official government site
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