§ 11-157. Security interest

Latest version.

   "Security interest":

   (1) Means an interest in a vehicle that is reserved or created by agreement and that secures payment or performance of an obligation; and

   (2) Includes the interest of a lessor under a lease intended as security.

HISTORY: An. Code 1957, art. 66 1/2, § 1-183; 1977, ch. 14, § 2.

                    
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