Legislature(1993 - 1994)

03/10/1994 01:45 PM L&C

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
 SENATOR KELLY announced  SB 227  (MOTOR VEHICLE RENTAL TERMS) to be           
 up for consideration.                                                         
                                                                               
 CAROL CARROL, Legislative Aide to Senator Kerttula, testified that            
 SB 227 makes a minor change in law that would clarify that tract              
 clauses in leases, in and of themselves, do not change the nature             
 of a lease.  A tract clause is a device used by a lessor and a                
 lessee to come to more favorable lease terms when the lessee will             
 maintain the vehicle in a better condition so that the asset turns            
 out to be worth more at the end of the lease.                                 
                                                                               
 SENATOR RIEGER moved to pass SB 227 from committee with individual            
 recommendations.  There were no objections and it was so ordered.             

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