85R12464 JXC-F
By: Goldman H.B. No. 3215
A BILL TO BE ENTITLED
AN ACT
relating to the authority of a licensed auctioneer to sell a
business that owns vehicles without engaging in business as a motor
vehicle dealer.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 503.024(d), Transportation Code, is
amended to read as follows:
(d) For the purposes of Section 503.021, a licensed
auctioneer is not engaging in business as a dealer by, as a bid
caller, selling or offering to sell property, including a business
that holds the title to any number of vehicles, to the highest
bidder at a bona fide auction if:
(1) legal or equitable title does not pass to the
auctioneer;
(2) the auction is not held to avoid a requirement of
this chapter; and
(3) for an auction of vehicles owned legally or
equitably by a person who holds a general distinguishing number,
the auction is conducted at the location for which the general
distinguishing number was issued.
SECTION 2. This Act takes effect September 1, 2017.