VTL 397-B — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 397-A Radar detectors and laser detectors prohibited up ARTICLE 12 Other Provisions next SECTION 397-C For-hire motor vehicle safety program Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 397-B Vehicle leases that are not sales or security interests Vehicle & Traffic (VAT) CHAPTER 71, TITLE 3, ARTICLE 12 § 397-b. Vehicle leases that are not sales or security interests. Notwithstanding any other provision of law, in the case of motor vehicles or trailers which are not vehicles or trailers leased or used primarily for personal, family, or household purposes, 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.