N.Y. VAT. LAW § 397-b : NY Code - Section 397-B: Vehicle leases that are not sales or security interests

Search N.Y. VAT. LAW § 397-b : NY Code - Section 397-B: Vehicle leases that are not sales or security interests

Notwithstanding any other  provision  of  law,  in  the  case  of  motor
  vehicles  or  trailers which are not vehicles or trailers leased or used
  primarily for personal, family, or  household  purposes,  a  transaction
  does  not  create a conditional sale or security interest merely because
  it 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
  or trailer.