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Legislative Year: 2020 Change

Bill Detail: SB20-140

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Title Powersports And Motor Vehicle Sales Bond Requirement
Status Governor Signed (07/02/2020)
Bill Subjects
  • Professions & Occupations
  • Transportation & Motor Vehicles
House Sponsors J. Melton (D)
Senate Sponsors C. Holbert (R)
House Committee Transportation and Local Government
Senate Committee Business, Labor and Technology
Date Introduced 01/27/2020

Current law requires motor vehicle dealers, motor vehicle
salespersons, motor vehicle buyer agents, wholesale motor vehicle
auction dealers, business disposers, used motor vehicle dealers,
wholesalers, used powersports vehicle dealers, powersports vehicle
dealers, and powersports salespersons (dealers) 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. Sections 1, 2, 3, 5, and 6 of the bill require the violation to
be related to fraud in order for a person to recover from the bond.
Sections 4 and 7 authorize a person to recover from a bond in an action
if the board makes a finding in a hearing that a dealer committed fraud.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (09/02/2020) (most recent)  
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