Montana Code 61-3-110. Contract rental price adjustment — not sale or security interest
61-3-110. Contract rental price adjustment — not sale or security interest. In the case of a motor vehicle, trailer, semitrailer, pole trailer, camper, motorboat, personal watercraft, sailboat, or snowmobile, a transaction does not create a sale or security interest solely because it permits or requires that the rental price be adjusted either upward or downward under the agreement by reference to the amount realized upon the sale or other disposition of the motor vehicle, trailer, semitrailer, pole trailer, camper, motorboat, personal watercraft, sailboat, or snowmobile. To the extent that a conflict exists, this section supersedes any other provision of law.
Terms Used In Montana Code 61-3-110
- Camper: means a structure designed to be mounted in the cargo area of a truck or attached to an incomplete vehicle for the purpose of providing shelter for persons. See Montana Code 61-1-101
- Motor vehicle: means :
(i)a vehicle propelled by its own power and designed or used to transport persons or property on the highways of the state;
(ii)a quadricycle if it is equipped for use on the highways as prescribed in chapter 9; or
(iii)a golf cart only if it is equipped for use on the highways as prescribed in chapter 9 and is operated pursuant to 61-8-391 or by a person with a low-speed restricted driver's license. See Montana Code 61-1-101
- Motorboat: means a vessel, including a personal watercraft or pontoon, propelled by any machinery, motor, or engine of any description, whether or not the machinery, motor, or engine is the principal source of propulsion. See Montana Code 61-1-101
- Personal watercraft: means a vessel that uses an outboard motor or an inboard engine powering a water jet pump as its primary source of propulsion and that is designed to be operated by a person sitting, standing, or kneeling on the vessel rather than by the conventional method of sitting or standing in the vessel. See Montana Code 61-1-101
- Pole trailer: means a vehicle without power designed to be drawn by another vehicle and attached to the towing vehicle by means of a reach or pole or by being boomed or otherwise secured to the towing vehicle and ordinarily used for transporting long or irregularly shaped loads such as poles, pipes, or structural members capable generally of sustaining themselves as beams between the supporting connections. See Montana Code 61-1-101
- Sailboat: means a vessel that uses a sail and wind as its primary source of propulsion. See Montana Code 61-1-101
- Semitrailer: means a vehicle, with or without motive power, other than a pole trailer, designed for carrying property and for being drawn by a motor vehicle and constructed so that some part of its weight and that of its load rests on or is carried by another vehicle. See Montana Code 61-1-101
- Snowmobile: means a self-propelled vehicle of an overall width of 48 inches or less, excluding accessories, that is designed primarily for travel on snow or ice, that may be steered by skis or runners, and that is not otherwise registered or licensed under the laws of the state of Montana. See Montana Code 61-1-101
- Trailer: means a vehicle, with or without motive power, other than a pole trailer, designed for carrying property and for being drawn by a motor vehicle and constructed so that no part of its weight rests on the towing vehicle. See Montana Code 61-1-101
- Vehicle: means a device in, on, or by which any person or property may be transported or drawn on a public highway, except devices moved by animal power or used exclusively on stationary rails or tracks. See Montana Code 61-1-101