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2011 SESSION
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 | history
SUMMARY AS PASSED HOUSE:
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.
SUMMARY AS INTRODUCED:
Motor vehicle dealers; bonding requirements; limitations on recoveries from Motor Vehicle Transaction Recovery Fund (MVTRF). Eliminates apparent contradictions between provisions of two sections dealing with the MVTRF and recoveries therefrom.