|SB 0739||Motor Vehicles - Off-Site Sales|
|LR Number:||S2741.01I||Fiscal Note:||2741-01|
|Last Action:||02/27/96 - Voted Do Pass S Transportation Committee|
|Effective Date:||August 28, 1996|
SB 739 - This act deals with the sale of motor vehicles in an off-site sale.
The sale of vehicles at off-site sales is limited to sales by a seller of vehicles which are used and titled in the ordinary course of business. These sales must be held in conjunction with a credit union. Such sale will constitute a private sale advertised to members only.
Other financial institutions may, in conjunction with a seller of vehicles used and titled in the ordinary course of business, hold sales on the premises of the financial institutions. This type of sale is limited to persons who were customers of the firm prior to the date of the sale. Such sales are limited to one sale per year per financial institution.
Motor vehicles of the current model year, except for discontinued models, cannot be sold at off-site sales until subsequent model year vehicles are offered for sale to the public.
The act enumerates conditions applicable to each off-site