Minnesota Administrative Rules

7800.2600 REQUIRED LEASE PROVISIONS.

The lease shall provide for the exclusive possession, control, and use of the equipment, and for the complete assumption of responsibility in respect thereto by the lessee for the duration of said lease, and the lessee shall be considered as the owner of said vehicle during the duration of the lease for all purposes, including public liability insurance, and registration of vehicles with the Department of Public Service. The lease shall state the terms of compensation to be paid to the lessor by the lessee. The lease shall state the date and duration of said lease. The parties to the lease agreement may insert therein any other provisions not contrary to law, and not inconsistent with the rules of the Minnesota commissioner of transportation.

Statutory Authority:

MS s 221.031

History:

L 2001 c 213 s 30

Published Electronically:

September 9, 2005