South Carolina § 56-19-720 - Sale or security interest not created by terminal rental adjustment clause in motor vehicle or trailer lease.
Full text of South Carolina South Carolina Code of Laws § 56-19-720 — Sale or security interest not created by terminal rental adjustment clause in motor vehicle or trailer lease., with citation guidance and answers to common questions.
§ 56-19-720. Sale or security interest not created by terminal rental adjustment clause in motor vehicle or trailer lease.
Notwithstanding another provision of law, a transaction involving a motor vehicle or trailer does not create a sale or security interest merely because the agreement contains a terminal rental adjustment clause which provides that the rental price may be or must be adjusted either upward or downward by reference to the amount realized upon sale or other disposition of the motor vehicle or trailer.
HISTORY: 1998 Act No. 406, SECTION 1.
Editor's Note
1998 Act No. 406, SECTION 2,provides as follows:
"The clarification of existing law in Section 56-19-720 of the 1976 Code as contained in Section 1 of this act must be given effect in all court cases brought on or after the effective date of this act."
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 56-19-720
What does South Carolina Code of Laws § 56-19-720 cover?
Section 56-19-720 ("Sale or security interest not created by terminal rental adjustment clause in motor vehicle or trailer lease.") is part of the South Carolina Code of Laws, the codified statutory law of South 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 South Carolina § 56-19-720?
A common citation format is "South Carolina Code of Laws § 56-19-720" (South 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 South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 56-19-720 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South 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 South Carolina.