§ 17A-4A-16 — Vehicle leases which are not sales or security interests

West Virginia § 17A-4A-16

• Jurisdiction: West Virginia
• Ch. 17A: MOTOR VEHICLE ADMINISTRATION, REGISTRATION, CERTIFICATE OF TITLE, AND ANTITHEFT PROVISIONS
• Art. 4A: LIENS AND ENCUMBRANCES ON VEHICLES TO BE SHOWN ON CERTIFICATE OF TITLE; NOTICE TO CREDITORS AND PURCHASERS

Text

In the case of motor vehicles or trailers, notwithstanding any other provision of law, a transaction does not create a conditional 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.

Legislative History

1996 Reg. Sess., HB4371; 1984 Reg. Sess., HB1965