Motorlease Corp. received a special Lifetime Membership award from the American Automotive Leasing Association (AALA) at the association's Sept. 29 annual meeting in Washington, D.C.
"Historically, Motorlease has played a strong role in the fleet leasing industry, advocating for and establishing best practices in many areas, and we have held leadership positions in AALA throughout the years," said Beth Kandrysawtz, CEO of Motorlease.
The award was presented in recognition of the pivotal role played by Farmington, Conn.-based Motorlease during the formative years of the automotive fleet leasing industry. Motorlease's participation in the creation of the AALA helped assure a business environment conducive to growth of an industry that has made significant contributions to the strength of the United States' economy, according to text on the award.
"As pioneers in the development of the vital industry of fleet leasing and management, I am particularly proud to have been able to present this award to Motorlease and to recognize the important role Motorlease has played in the health and success of our business," said Jim Frank, CEO of Wheels Inc.
The award recognized Motorlease's contributions to AALA, in particular Motorlease's success in a 1966 U.S. Supreme Court decision (Motorlease Corp. v. United States) that reversed a 1964 Second Circuit appellate court decision on tax laws related to property depreciation and disposition.
The Motorlease decision regarding the depreciation and disposition of assets provided an environment in which the automobile fleet leasing industry could grow to new heights.
"The Supreme Court decision in favor of Motorlease was pivotal to the automotive fleet leasing industry, and set the stage for the creation of the AALA," said Pamela Sederholm, executive director of AALA. "On our 60th anniversary, we felt it was appropriate to honor Motorlease in this way, as their advocacy in this Supreme Court decision, and the company's active involvement with AALA through our 60-year history, has been instrumental in the success of fleet leasing."