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Georgia Code Title 10. Commerce and Trade § 10-1-39

Current as of March 28, 2024 | Updated by Findlaw Staff

In addition to the definitions provided for in Code Section 10-1-31, as used in Code Sections 10-1-40 through 10-1-42, the term:

(1) “Induce” means to cause a buyer of a motor vehicle under a retail installment contract or a lessee of a motor vehicle under a motor vehicle lease contract to sublease the subject motor vehicle or to arrange for or cause such a buyer or lessee to be so induced.

(2) “Lessee” means a person who obtains possession and use of a motor vehicle through a motor vehicle lease contract.

(3) “Lessor” means any person who in the regular course of business or as a part of regular business activity leases motor vehicles under motor vehicle lease contracts or purchases motor vehicle lease contracts or any sales finance company that purchases motor vehicle lease contracts.

(4) “Motor vehicle lease contract” means an agreement between a lessor and a lessee whereby the lessee obtains the possession and use of a motor vehicle for such period of time, for such purposes, and for such consideration as set forth in the agreement.

(5) “Subject motor vehicle” means the motor vehicle sold to a buyer under a retail installment contract or the motor vehicle obtained by a lessee under a motor vehicle lease contract.

(6) “Sublease” means:

(A) To transfer possession of a motor vehicle which is the subject of a retail installment contract to a person who is not a party to that contract or to transfer or assign any of the buyer's rights or interests under the retail installment contract to such a person, whether or not such transfer or assignment is effective; or

(B) To transfer possession of a motor vehicle which is the subject of a motor vehicle lease contract to a person who is not a party to that contract or to transfer or assign any of the lessee's or lessor's rights or interests under the motor vehicle lease contract to such a person, whether or not such transfer or assignment is effective.

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Cite this article: FindLaw.com - Georgia Code Title 10. Commerce and Trade § 10-1-39 - last updated March 28, 2024 | https://codes.findlaw.com/ga/title-10-commerce-and-trade/ga-code-sect-10-1-39/

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