TITLE 49

MOTOR VEHICLES

CHAPTER 5

VEHICLE TITLES

49-512A.  Effect of a terminal rental adjustment clause. Notwithstanding any provision of law to the contrary, a transaction involving a motor vehicle or trailer does not create a sale or security interest merely because the transaction provides that the rental price is permitted or required to be adjusted under the agreement either upward or downward by reference to the amount realized upon the sale or other disposition of the motor vehicle or trailer.

History:

[49-512A, added 2004, ch. 247, sec. 1, p. 713.]