North Carolina § 20-78.1 Terminal rental adjustment clauses; vehicle leases that are not sales or security interests

North Carolina Statutes

§ 20-78.1 — Terminal rental adjustment clauses; vehicle leases that are not sales or security interests

North Carolina § 20-78.1

Ch. 20Motor Vehicles

Art. 3Motor Vehicle Act of 1937

This text of North Carolina § 20-78.1 (Terminal rental adjustment clauses; vehicle leases that are not sales or security interests) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 20-78.1 (2026).

Text

Notwithstanding any other provision of law, a lease transaction does not create a sale or security interest in a motor vehicle or trailer merely because the lease contains a terminal rental adjustment clause that provides that the rental price is permitted or required to be adjusted up or down by reference to the amount of money realized upon the sale or other disposition of the motor vehicle or trailer. (2011-223, s. 1.)
Part 5. Issuance of Special Plates.

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Notwithstanding any other provision of law, a lease transaction does not create a sale or security interest in a motor vehicle or trailer merely because the lease contains a terminal rental adjustment clause that provides that the rental price is permitted or required to be adjusted up or down by reference to the amount of money realized upon the sale or other disposition of the motor vehicle or trailer. (2011-223, s. 1.)
Part 5. Issuance of Special Plates.