Sec. 2A110.
With respect to a motor vehicle or trailer, 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.
History: Add. 1992, Act 101, Eff. Sept. 30, 1992
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 2A - Leases (440.2801...440.2982)
174-1962-2A-1 - Part 1 General Provisions (440.2801...440.2810)
Section 440.2801 - Short Title.
Section 440.2802 - Applicability of Article.
Section 440.2803 - Definitions; Sections; Principles of Construction and Interpretation.
Section 440.2805 - Certificate of Title Statute; Compliance; Applicable Law.
Section 440.2806 - Choice of Law; Judicial Forum.
Section 440.2807 - Discharge of Claim or Right Without Consideration.
Section 440.2808 - Unconscionable Contract, Clause, or Conduct.
Section 440.2809 - Power to Accelerate Payment or Performance or Require Collateral; Good Faith.
Section 440.2810 - Motor Vehicle or Trailer; Transaction Creating Sale or Security Interest.