§ 24-5-16-12 — Unlawful subleasing; conditions

Indiana § 24-5-16-12

• Jurisdiction: Indiana
• Art. 5: CONSUMER SALES
• Ch. 16: Unlawful Motor Vehicle Subleasing

Text

(a) A person engages in an act of unlawful
subleasing of a vehicle if all of the following conditions are met:
(1) The vehicle is subject to a lease contract, an installment sales
agreement, or a security agreement, the terms of which prohibit
the transfer or assignment of any right or interest in the vehicle or
under the lease contract, installment sales agreement, or security
agreement without consent of the lessor, seller, or secured party.
(2) The person is not a party to the lease contract, installment
sales agreement, or security agreement.
(3) The person transfers or assigns, or purports to transfer or
assign, a right or an interest in the vehicle under the lease
contract, installment sales agreement, or security agreement to a
person who is not a party to the lease contract, installment sales
agreement, or security agreement.
(4) The person does not obtain, before the transfer or assignment
described in subdivision (3), written consent to the transfer or
assignment from the vehicle's lessor, seller, or secured party.
(5) The person receives compensation or some other
consideration for the transfer or assignment described in
subdivision (3).
(b) A person engages in an act of unlawful subleasing of a vehicle
when the person is not a party to the lease contract, installment sales
agreement, or security agreement and assists, causes, or arranges an
actual or purported transfer or assignment described in subsection
(a)(3).

Legislative History

As added by P.L.80-1990, SEC.16.