There is a newer version
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the New York Laws
2019 New York Laws
VAT - Vehicle and Traffic
Title 3 - Safety Responsibility; Financial Security; Equipment; Inspection; Size and Weight; and Other Provisions
Article 12 - Other Provisions
397-B - Vehicle Leases That Are Not Sales or Security Interests.
Universal Citation: NY Veh & Traf L § 397-B (2019)
§ 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.
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