§286-52.4 - Terminal rental adjustment clause; vehicle leases.
[§286-52.4 Terminal rental adjustmentclause; vehicle leases.] In the case of motor vehicles or trailers,notwithstanding any other provision of law, a transaction does not create asale or security interest merely because it provides that the rental price ispermitted or required to be adjusted under the agreement, either upward ordownward, by reference to the amount realized upon sale or other disposition ofthe motor vehicle or trailer. [L 2003, c 21, §2]