KRS 355.2A-529: Lessor's action for rent.

(1) After default by the lessee under the lease contract of the type described in KRS

355.2A-523(1) or 355.2A-523(3)(a) or, if agreed, after other default by the lessee, if

the lessor complies with subsection (2), 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 (KRS 355.2A-219):

1. Accrued and unpaid rent as of the date of entry of judgment in favor of

the lessor;

2. The present value as of the same date of the rent for the then remaining

lease term of the lease agreement; and

3. Any incidental damages allowed under KRS 355.2A -530, 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:

1. Accrued and unpaid rent as of the date of entry of judgment in favor of

the lessor;

2. The present value as of the same date of the rent for the then remaining

lease term of the lease agreement; and

3. Any incidental damages allowed under KRS 355.2A -530, less expenses

saved in consequence of the lessee's default.

(2) Except as provided in subsection (3), 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). 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 KRS 355.2A -527 or 355.2A -528 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 KRS 355.2A-527 or 355.2A-528.

(4) Payment of the judgment for damages obtained pursuant to subsection (1) 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 KRS

355.2A-523(1) or 355.2A-523(3)(a) 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 KRS 355.2A-527 or 355.2A-528.