North Carolina § 20-78 - 1. Terminal rental adjustment clauses; vehicle leases that are not sales or security interests.
Full text of North Carolina North Carolina General Statutes § 20-78 — 1. Terminal rental adjustment clauses; vehicle leases that are not sales or security interests., with citation guidance and answers to common questions.
§ 20-78. 1. Terminal rental adjustment clauses; vehicle leases that are not sales or security interests.
Notwithstanding any other provision of law, a lease transaction does not create a sale or security interest in a motor vehicle or trailer merely because the lease contains a terminal rental adjustment clause that provides that the rental price is permitted or required to be adjusted up or down by reference to the amount of money realized upon the sale or other disposition of the motor vehicle or trailer. History (2011-223, s. 1.) PART 5. ISSUANCE OF SPECIAL PLATES.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 20-78
What does North Carolina General Statutes § 20-78 cover?
Section 20-78 ("1. Terminal rental adjustment clauses; vehicle leases that are not sales or security interests.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. 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 North Carolina § 20-78?
A common citation format is "North Carolina General Statutes § 20-78" (North Carolina). 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 North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 20-78 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina 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 North Carolina.