The Vermont Statutes Online
The Statutes below include the actions of the 2024 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 23 : Motor Vehicles
Chapter 021 : Title to Motor Vehicles
Subchapter 003 : SECURITY INTERESTS
(Cite as: 23 V.S.A. § 2048)-
§ 2048. Terminal rental adjustment clauses; vehicle leases that are not sales or security interests
In the case of motor vehicles or trailers, notwithstanding any other provision of law, 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. (Added 1993, No. 27, § 6.)
