§ 31-3.1-27. Vehicle leases that are not sales or security interests.
In the case of motor vehicles or trailers, 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 of Section.P.L. 1991, ch. 305, § 8.
Structure Rhode Island General Laws
Title 31 - Motor and Other Vehicles
Chapter 31-3.1 - Certificates of Title and Security Interests
Section 31-3.1-1. - Certificate of title required.
Section 31-3.1-2. - Exclusions.
Section 31-3.1-3. - Optional certificate of title.
Section 31-3.1-4. - Application for first certificate of title.
Section 31-3.1-5. - Examination of records.
Section 31-3.1-6. - Issuance and records.
Section 31-3.1-7. - Contents and effect of certificate.
Section 31-3.1-9. - Registration without certificate of title — Bond.
Section 31-3.1-10. - Refusing certificate of title.
Section 31-3.1-11. - Lost, stolen or mutilated certificates.
Section 31-3.1-12. - Transfer.
Section 31-3.1-13. - Transfer to or from dealer — Records.
Section 31-3.1-14. - Transfer by operation of law.
Section 31-3.1-15. - Fees — Registration cards.
Section 31-3.1-16. - Issuance of new certificate.
Section 31-3.1-16.1. - Electronic recording of security interests.
Section 31-3.1-17. - Scrapping, dismantling or destroying vehicle.
Section 31-3.1-18. - Excepted liens and security interests.
Section 31-3.1-19. - Perfection of security interests.
Section 31-3.1-20. - Security interest — Change of certificate.
Section 31-3.1-21. - Assignment by lienholder.
Section 31-3.1-22. - Release of security interest.
Section 31-3.1-23. - Duty of lienholder.
Section 31-3.1-24. - Exclusiveness of procedure.
Section 31-3.1-25. - Suspension or revocation of certificates.
Section 31-3.1-26. - Powers of division of motor vehicles.
Section 31-3.1-27. - Vehicle leases that are not sales or security interests.
Section 31-3.1-28 - — 31-3.1-35. [Obsolete.]
Section 31-3.1-36. - Court review.