Notwithstanding any other provision of law, in the case of a motor vehicle or trailer, a transaction does not create a sales 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.
History. Code 1981, § 40-3-60 , enacted by Ga. L. 1995, p. 739, § 1.
Structure Georgia Code
Title 40 - Motor Vehicles and Traffic
Chapter 3 - Certificates of Title, Security Interests, and Liens
Article 3 - Security Interests in and Liens on Motor Vehicles
§ 40-3-50. Perfection of Security Interests Generally
§ 40-3-51. Creation of Security Interest by Owner
§ 40-3-52. Perfection of Second or Subsequent Security Interests
§ 40-3-53. Perfection and Enforcement of Liens Generally
§ 40-3-54. Mechanics’ Liens; How Asserted and Foreclosed
§ 40-3-55. Assignment of Security Interests and Liens
§ 40-3-56. Satisfaction of Security Interests and Liens
§ 40-3-57. Disclosure of Information as to Security Interests and Liens
§ 40-3-58. Exclusiveness of Chapter
§ 40-3-59. Certain Security Interests Not Affected
§ 40-3-60. Security Interest Not Created by Provision for Adjustment of Rental Price
§ 40-3-61. Proceeds of Insurance Policy to Multiple Lienholders in Event of Total Loss of Vehicle