65.946 Maximum term for leases. A lease for real property may have any term, including renewals, not to exceed forty (40) years. A lease for personal property may have any term, including renewals, not to exceed the useful life of the personal property financed, determined in accordance with generally accepted accounting principles. Effective: July 13, 1990 History: Created 1990 Ky. Acts ch. 81, sec. 4, effective July 13, 1990.
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