If a motor vehicle is sold under a contract of conditional sale whereby the title
to such motor vehicle remains in the vendor, such vendor or his assignee shall not
be deemed an owner within the provisions of this chapter, but the vendee or his assignee
shall be deemed the owner notwithstanding the terms of such contract, until the vendor
or his assignee retake possession of the motor vehicle. A chattel mortgagee of a motor vehicle out of possession is not an owner within
the provisions of this chapter.
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