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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of a licensed auctioneer to sell a |
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business that owns vehicles without engaging in business as a motor |
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vehicle dealer. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 503.024(d), Transportation Code, is |
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amended to read as follows: |
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(d) For the purposes of Section 503.021, a licensed |
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auctioneer is not engaging in business as a dealer by, as a bid |
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caller, selling or offering to sell property, including a business |
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that holds the title to any number of vehicles, to the highest |
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bidder at a bona fide auction if: |
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(1) legal or equitable title does not pass to the |
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auctioneer; |
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(2) the auction is not held to avoid a requirement of |
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this chapter; and |
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(3) for an auction of vehicles owned legally or |
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equitably by a person who holds a general distinguishing number, |
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the auction is conducted at the location for which the general |
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distinguishing number was issued. |
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SECTION 2. This Act takes effect September 1, 2017. |