Maine § 10 §1305 Terminal rental adjustment clauses; vehicle leases that are not sales or security interests

Maine Statutes

§ 10 §1305 — Terminal rental adjustment clauses; vehicle leases that are not sales or security interests

Maine § 10 §1305

Title 10COMMERCE AND TRADE

Part 3REGULATION OF TRADE

Ch. 209-AVEHICLE LEASES THAT ARE NOT SALES OR SECURITY INTERESTS

This text of Maine § 10 §1305 (Terminal rental adjustment clauses; vehicle leases that are not sales or security interests) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §1305 (2026).

Text

Notwithstanding any other provision of law, in the case of motor vehicles or trailers, a transaction does not create a sale or security interest merely because the agreement provides that the rental price is permitted or required to be adjusted upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer. A transaction may be considered a sale for purposes of Title 36.

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Notwithstanding any other provision of law, in the case of motor vehicles or trailers, a transaction does not create a sale or security interest merely because the agreement provides that the rental price is permitted or required to be adjusted upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer. A transaction may be considered a sale for purposes of Title 36.