New Hampshire Revised Statutes 261:23-a – Terminal Rental Adjustment Clause; Vehicle Leases That are Not Sales or Security Interests
Current as of: 2023 | Check for updates
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Terms Used In New Hampshire Revised Statutes 261:23-a
- Motor vehicle: shall mean :
I. See New Hampshire Revised Statutes 259:60 - Trailer: shall mean any vehicle without motive power designed for carrying property or passengers wholly on its own structure and for being drawn by a self-propelled vehicle, except those running exclusively on snow or on stationary tracks and vehicles used exclusively for agricultural purposes. See New Hampshire Revised Statutes 259:113
- Vehicle: shall mean :
I. See New Hampshire Revised Statutes 259:122
Notwithstanding any other provision of law, a transaction involving a motor vehicle or a trailer 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.