Alabama § 32-8-60.1 - Security Interest Not Created Where Rental Price May Be Adjusted by Reference to Amount Realized Upon Sale.
Full text of Alabama Code of Alabama § 32-8-60.1 — Security Interest Not Created Where Rental Price May Be Adjusted by Reference to Amount Realized Upon Sale., with citation guidance and answers to common questions.
§ 32-8-60.1. Security Interest Not Created Where Rental Price May Be Adjusted by Reference to Amount Realized Upon Sale.
In the case of motor vehicles as defined in Section 32-8-2(10), notwithstanding any other provision of law, a transaction 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 sale or other disposition of the motor vehicle.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 32-8-60.1
What does Code of Alabama § 32-8-60.1 cover?
Section 32-8-60.1 ("Security Interest Not Created Where Rental Price May Be Adjusted by Reference to Amount Realized Upon Sale.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 32-8-60.1?
A common citation format is "Code of Alabama § 32-8-60.1" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 32-8-60.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.