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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 49 - Transportation |
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Subtitle B - Other Regulations Relating to Transportation |
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Chapter VI - Federal Transit Administration, Department of Transportation |
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Part 639 - Capital Leases |
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Subpart B - Requirements |
§ 639.19 - Other Federal requirements.
Latest version.
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§ 639.19 Other Federal requirements.
(a) A recipient of capital assistance for a capital lease is subject to the same statutory and administrative requirements as a recipient who purchases or constructs a capital asset.
(b) A lessor of a capital lease is subject to the same statutory and administrative requirements as a direct seller of the same capital asset would be when the lessor -
(1) Purchases or constructs a capital asset in contemplation of leasing it to a recipient; or
(2) Modifies an existing capital asset in contemplation of leasing it to a recipient.