LAC 34:I.5320 – Title to the Selected Equipment

A. Title to the selected equipment shall be retained by the nonprofit lessor until such time as the equipment is paid for in accordance with the equipment lease-purchase contract, at which time title shall be transferred to the using agency.

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1761-1771.

HISTORICAL NOTE: Promulgated by the Office of the Governor, Division of Administration, LR 12:233 (April 1986).