§ 31-3.1-27 - Vehicle leases that are not sales or security interests. - Rhode Island Statutes

SECTION 31-3.1-27

   § 31-3.1-27  Vehicle leases that are notsales or security interests. – In the case of motor vehicles or trailers, notwithstanding any other provisionof law, a transaction does not create a sale or security interest merelybecause it provides that the rental price is permitted or required to beadjusted under the agreement either upward or downward by reference to theamount realized upon sale or other disposition of the motor vehicle or trailer.