Iowa Admin. Code r. 761-524.14

Current through Register Vol. 47, No.14, January 8, 2025

Rule 761-524.14 - Lease of a vehicle

(1)Lease defined. "Lease," for the purpose of these rules, means a written document providing for the exclusive possession, control and responsibility over the operation of a vehicle by the lessee for a specific period of time as if the lessee were the owner. A copy of the lease must be carried in the leased vehicle at all times. No motor carrier may have more than one lease covering a specific vehicle in effect at a given time.

(2)Lease of a vehicle to a shipper or a receiver. No motor carrier shall lease a vehicle with or without a driver to a shipper or a receiver.

(3)Marking of a motor vehicle. Each lessee shall properly identify each motor vehicle during the period of the lease as specified in rule 524.12(325 A).

(4)Lease requirements. Any lease of a vehicle by any motor carrier except under the following conditions is prohibited:

a. Every lease must be in writing and signed by the parties or their regular employees or agents duly authorized to act for them.

b. Every lease shall specify the time that the lease begins and the time or circumstances on which it ends.

Iowa Admin. Code r. 761-524.14