Cal. Education Code § 17452
Cal. Education Code § 17452
California · California Education Code · Status: effective · Effective 1997-01-01
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- Citation
- Cal. Education Code § 17452, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/796199
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Full text
The term of any lease or lease-purchase agreement shall not exceed the estimated useful life of the item but in no event shall the term exceed 10 years. A lease, but not a lease-purchase agreement, may be renewable at the option of the lessee and the lessor, jointly, at the end of each term at a rate not more than 12 percent annually above the rate set pursuant to the existing agreement. In no event shall the combined period of the original lease and renewals or extensions exceed 10 years. Any contract for the lease or lease-purchase of equipment or service systems which was in existence prior to April 22, 1975, shall remain in effect and such terms are hereby ratified.