Alaska Statutes 28.10.375 – Effect of terminal rental adjustment clauses
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Terms Used In Alaska Statutes 28.10.375
- motor vehicle: means a vehicle which is self-propelled except a vehicle moved by human or animal power. See Alaska Statutes 28.90.990
- vehicle: means a device in, upon, or by which a person or property may be transported or drawn upon or immediately over a highway or vehicular way or area. See Alaska Statutes 28.90.990
Notwithstanding other provisions of law, a transaction involving a motor vehicle or trailer does not create a sale or security interest merely because the transaction 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 the sale or other disposition of the motor vehicle or trailer.