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SB20-140

Powersports And Motor Vehicle Sales Bond Requirement

Concerning the types of conditions that may authorize a person to recover from the bond required as a condition to be licensed to sell vehicles with motors.
Session:
2020 Regular Session
Subjects:
Professions & Occupations
Transportation & Motor Vehicles
Bill Summary

Preexisting law requires motor vehicle and powersports dealers, salespersons, buyer agents, wholesale auction dealers, business disposers, and wholesalers to have bonds to compensate people for fraud or a violation of the motor vehicle dealer statutes if the violation is designated as recoverable by the motor vehicle dealer board. The act requires the violation to be related to fraud in order for a person to recover from the bond. A person may recover from a bond in an action if the board issues a final agency order with a finding of fraud.


(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    07/02/2020 Signed Act PDF
    06/13/2020 Final Act PDF
    06/03/2020 Rerevised PDF
    06/01/2020 Revised PDF
    02/19/2020 Reengrossed PDF
    02/18/2020 Engrossed PDF
    01/27/2020 Introduced PDF
COVID-19 Resources
2021 Ballot Information Booklet (Blue Book)
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