In the case of motor vehicles, semitrailers, or trailers, as defined in title 55, chapter 1, 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, semitrailer, or trailer.
Tenn. Code Ann. § 47-2A-110
Transactions allowing adjustment of rental price upon sale or disposition
Known as the Uniform Commercial Code
The act spans §§ 47-1-101–47-9-809 (578 sections).
Acts 1994, ch. 724, § 2.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.