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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 February 26, 2014 at 3:09 PM