Notwithstanding any provision of the general statutes, in the case of motor vehicles or trailers, 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.
Conn. Gen. Stat. § 14-167a
Vehicle lease with terminal rental adjustment clause; not sale or security interest
Known as the Uniform Motor Vehicle Certificate of Title and Antitheft Act
The act spans §§ 14–14 (42 sections).
(P.A. 96-162, S. 1.)
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.