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Title XIX MOTOR VEHICLES, WATERCRAFT AND AVIATION

Chapter 301

previous next Effective - 28 Aug 1991bottom

  301.452.  Rental price adjustment of motor vehicle or trailer based on amount of sale of vehicle does not create sale or security interest. — In the case of motor vehicles or trailers as those terms are defined in section 301.010, notwithstanding any other law to the contrary, a transaction does not create a 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.

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(L. 1991 S.B. 413 § 1)


---- end of effective   28 Aug 1991 ----

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