Bill Summaries: S590 TERMINAL RENTAL ADJUSTMENT CLAUSES.

Printer-friendly: Click to view
Tracking:
  • Summary date: Jun 30 2011 - View Summary

    AN ACT TO CLARIFY THAT TERMINAL RENTAL ADJUSTMENT CLAUSES DO NOT CREATE A SALE OR SECURITY INTEREST IN THE LEASED VEHICLE. Summarized in Daily Bulletin 4/13/11. Enacted June 23, 2011. Effective June 23, 2011.


  • Summary date: Apr 13 2011 - View Summary

    Enacts new GS 20-78.1 to provide that a lease transaction does not create a sale or security interest in a motor vehicle or trailer simply because the lease contains a terminal rental adjustment clause that permits or requires the rental price to be adjusted up or down as specified.