D.C. Code § 50-1217

Current through codified legislation effective September 18, 2024
Section 50-1217 - Terminal rental adjustment clauses: vehicle leases that are not sales or security interests

In the case of motor vehicles or trailers, notwithstanding any other provisions of law, a transaction does not create a sale or security interest merely because it 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 sale or other disposition of the motor vehicle or trailer.

D.C. Code § 50-1217

July 2, 1940, ch. 527, § 15a; as added Mar. 17, 1993, D.C. Law 9-205, § 2, 40 DCR 10.