Okla. Stat. tit. 12A, § 12A-2A-220: Effect of default on risk of loss

EFFECT OF DEFAULT ON RISK OF LOSS

(1) Where risk of loss is to pass to the lessee and the time of

passage is not stated:

(a) If a tender or delivery of goods so fails to

conform to the lease contract as to give a right of rejection, the

risk of their loss remains with the lessor, or, in the case of a

finance lease, the supplier, until cure or acceptance.

(b) If the lessee rightfully revokes acceptance, he,

to the extent of any deficiency in his effective insurance coverage,

may treat the risk of loss as having remained with the lessor from

the beginning.

(2) Whether or not risk of loss is to pass to the lessee, if

the lessee as to conforming goods already identified to a lease

contract repudiates or is otherwise in default under the lease

contract, the lessor, or, in the case of a finance lease, the

supplier, to the extent of any deficiency in his effective insurance

coverage may treat the risk of loss as resting on the lessee for a

commercially reasonable time.