California § 2981.5. 2981.5. (Added by Stats. 1973, Ch. 696.)

California Statutes

§ 2981.5. — 2981.5. (Added by Stats. 1973, Ch. 696.)

California·Code CIV Civil Code - CIV·Div. 3. DIVISION 3. OBLIGATIONS·Title 14.·Part 4. TITLE 14. LIEN·Ch. 2b. CHAPTER 2b. Automobile Sales Finance Act

A contract for the bailment or leasing of a motor vehicle, with or without accessories, which establishes the maximum for which a bailee or lessee could be held liable at the end of the lease or bailment period, or upon an earlier termination, by reference to the value of the vehicle at such time, is not a contract by which the bailee or lessee will become or for no other or for a nominal consideration has the option of becoming the owner of the vehicle, for the purposes of paragraph (2) of subdivision (a) of Section 2981 or any other provision of this chapter.

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A contract for the bailment or leasing of a motor vehicle, with or without accessories, which establishes the maximum for which a bailee or lessee could be held liable at the end of the lease or bailment period, or upon an earlier termination, by reference to the value of the vehicle at such time, is not a contract by which the bailee or lessee will become or for no other or for a nominal consideration has the option of becoming the owner of the vehicle, for the purposes of paragraph (2) of subdivision (a) of Section 2981 or any other provision of this chapter.

California § 2981.5. (2981.5. (Added by Stats. 1973, Ch. 696.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.