Section 28.10.375. Effect of terminal rental adjustment clauses.

Latest version.

Notwithstanding other provisions of law, 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.

Notes

History

(Sec. 1 ch 64 SLA 1994)

                    
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