Statutes, codes, and regulations
Code of Iowa
Title VIII - TRANSPORTATIONChapter 321 - MOTOR VEHICLES AND LAW OF THE ROAD
TRANSFERS OF TITLE OR INTEREST
Section 321.51 - Terminal rental adjustment clause - vehicle leases that are not sales or security interests

Iowa Code § 321.51

Download
PDF
Current through March 29, 2024
Section 321.51 - Terminal rental adjustment clause - vehicle leases that are not sales or security interests

An agreement involving the leasing of a motor vehicle or trailer does not create a sale or security interest solely because the agreement provides for an increase or decrease adjustment in the rental price of the motor vehicle or trailer based upon the amount realized upon sale or other disposition of the motor vehicle or trailer following the termination of the lease.

Iowa Code § 321.51

94 Acts, ch 1052, §1

94 Acts, ch 1052, §1

Referred to in §331.557