Section 816.5 Of Article 5. Stocks And Security Transactions From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 4. >> Article 5.
816.5
. Nothing in this article or in Article 6 (commencing with
Section 851) requires a common carrier by railroad subject to the
Interstate Commerce Act (49 U.S.C. Sec. 10101 et seq.) or passenger
stage corporation to secure from the commission authority to execute
any conditional sales contract for the purchase of motor vehicle or
railroad equipment or any note or chattel mortgage on that equipment
securing the payment of all, or any part, of the purchase price.