In the case of motor vehicles as defined in Section 32-8-2(10), notwithstanding any other provision of law, a transaction does not create a sale or security interest merely because the transaction 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.
Structure Code of Alabama
Title 32 - Motor Vehicles and Traffic.
Chapter 8 - Uniform Certificate of Title and Antitheft Act.
Article 3 - Security Interests.
Section 32-8-60 - Excepted Liens and Security Interests.
Section 32-8-61 - Perfection of Security Interests.
Section 32-8-62 - Procedure When Owner Creates Security Interest.
Section 32-8-63 - Assignment by Lienholder.
Section 32-8-64 - Release of Security Interest.
Section 32-8-64.1 - Satisfaction of Security Interest After 12 Years.
Section 32-8-64.2 - Release of Certain Liens.
Section 32-8-65 - Duty of Lienholder to Disclose Information.
Section 32-8-66 - Exclusiveness of Procedure.
Section 32-8-67 - Filing and Recording of Notices of Security Interests; Examination of Record.
Section 32-8-68 - Recording and Releasing Security Interests by Electronic Means.