Sec. 501.112. SALE OR SECURITY INTEREST NOT CREATED BY CERTAIN VEHICLE LEASES. Notwithstanding any other law, an agreement for the lease of a motor vehicle does not create a sale or security interest by merely providing that the rental price is permitted or required to be adjusted under the agreement as determined by the amount realized on the sale or other disposition of the vehicle.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Title 7 - Vehicles and Traffic
Subtitle A - Certificates of Title and Registration of Vehicles
Chapter 501 - Certificate of Title Act
Subchapter F. Security Interests
Section 501.111. Perfection of Security Interest
Section 501.112. Sale or Security Interest Not Created by Certain Vehicle Leases
Section 501.113. Recordation of Security Interest
Section 501.114. Assignment of Lien
Section 501.115. Discharge of Lien