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2011 SESSION

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HB 1838 Motor vehicle dealers; bonding requirements, limitations on Motor Vehicle Transaction Recovery Fund.

Introduced by: T. Scott Garrett | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Motor vehicle dealers; bonding requirements; limitations on recoveries from Motor Vehicle Transaction Recovery Fund (MVTRF). Clarifies that a claimant may not collect more than a total of $20,000 between the bond and the Motor Vehicle Transaction Recovery Fund (MVTRF).  Only dealers in business less than three years carry a bond.  The bill also modifies the method by which funds may be used from the MVTRF to pay for the administration of the Fund.


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