Current with changes from the 2024 legislative session through ch. 845
Section 8.2A-102 - [Effective 7/1/2025] Scope(1) This title applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (2).(2) In a hybrid lease: (a) if the lease-of-goods aspects do not predominate:(i) only the provisions of this title that relate primarily to the lease-of-goods aspect of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply;(ii) § 8.2-209A applies if the lease is a financial lease; and(iii) § 8.2-407A applies to the promises of the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods; and(b) if the lease-of-goods aspects predominate, this title applies to the transaction, but does not preclude application in appropriate circumstances of other law to aspects of the lease that do not relate to the lease of goods.Amended by Acts 2024 c. 652,§ 1, eff. 7/1/2025.Amended by Acts 1991, § c. 536.This section is set out more than once due to postponed, multiple, or conflicting amendments.