Texas Statutes (Last Updated: January 4, 2014) |
TRANSPORTATION CODE |
Title 7. VEHICLES AND TRAFFIC |
Subtitle A. CERTIFICATES OF TITLE AND REGISTRATION OF VEHICLES |
Chapter 501. CERTIFICATE OF TITLE ACT |
Subchapter F. SECURITY INTERESTS |
Sec. 501.112. SALE OR SECURITY INTEREST NOT CREATED BY CERTAIN VEHICLE LEASES
Latest version.
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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.