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S. 1061
STATUS INFORMATION
General Bill
Sponsors: Senator Corbin
Document Path: l:\s-res\tdc\006auct.hm.tdc.docx
Introduced in the Senate on February 26, 2014
Currently residing in the Senate Committee on Transportation
Summary: Auctions of motor vehicles
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/26/2014 Senate Introduced and read first time (Senate Journal-page 7)
2/26/2014 Senate Referred to Committee on Transportation
(Senate Journal-page 7)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 56-15-550 OF THE 1976 CODE, RELATING TO SALES THROUGH AUCTIONS OF MOTOR VEHICLES, TO PROVIDE THAT ANY PERSON WHO EFFECTS OR ATTEMPTS TO EFFECT THE SALE OF LESS THAN FIVE MOTOR VEHICLES IN ANY ONE CALENDAR YEAR MAY SELL THROUGH A WHOLESALE MOTOR VEHICLE AUCTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 56-15-550 of the 1976 Code is amended to read:
"Section 56-15-550. (A) Any person who effects or attempts to effect the sale of less than five motor vehicles in any one calendar year may sell through a wholesale motor vehicle auction.
(B) Notwithstanding the limitation in subsection (A), the The following may sell motor vehicles through a wholesale motor vehicle auction if the motor vehicles are acquired as an incident to regular business:
(1) manufacturers;
(2) marine dealers;
(3) motor vehicle rental businesses;
(4) motor vehicle lease businesses;
(5) recreation vehicle dealers;
(6) sellers of motor vehicle fleets;
(7) manufacturers;
(8) public officers while performing their official duties;
(9) receivers;
(10) trustees;
(11) administrators;
(12) executors;
(13) guardians;
(14) insurance companies;
(15) banks;
(16) finance companies;
(17) other loan agencies or their agents."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on March 5, 2014 at 9:00 AM