H.B. No. 2495
relating to the transfer of a motor vehicle title at a dealer
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 501.071(a), Transportation Code, is
amended to read as follows:
(a) Except as provided in Section 503.039, a [
vehicle may not be the subject of a subsequent sale unless the owner
designated in the certificate of title transfers the certificate of
title at the time of the sale.
SECTION 2. Subchapter B, Chapter 503, Transportation Code,
is amended by adding Section 503.039 to read as follows:
Sec. 503.039. PUBLIC MOTOR VEHICLE AUCTIONS. A motor
vehicle may not be the subject of a subsequent sale at an auction by
a holder of a dealer's general distinguishing number unless:
(1) equitable or legal title passes to the holder of a
dealer's general distinguishing number before a transfer of title
to the buyer; and
(2) the holder of a dealer's general distinguishing
number transfers the certificate of title to the buyer before the
21st day after the date of the sale.
SECTION 3. This Act takes effect September 1, 2005.
President of the Senate Speaker of the House
I certify that H.B. No. 2495 was passed by the House on May 9,
2005, by a non-record vote.
Chief Clerk of the House
I certify that H.B. No. 2495 was passed by the Senate on May
25, 2005, by the following vote: Yeas 31, Nays 0.
Secretary of the Senate