MO SB456

Licensed motor vehicle dealers with a $100,000 surety bond may purchase vehicles without immediate title transfer if they obtain a signed contract, physical delivery, and power of attorney from the seller

Dealers meeting bond requirements may sell vehicles before receiving the certificate of ownership, with up to 60 days to deliver the title to purchasers, provided liens, child support liens, and sales taxes are verified clear

Temporary permits for vehicles sold under these provisions are extended from 30 days to 90 days, and transferred license plates may be used for up to 90 days instead of 30

Insurance companies paying total loss claims may receive electronic signatures on power of attorney documents to assign vehicle ownership without notarization

Dealers who fail to deliver titles within the agreed timeframe are liable for actual damages, court costs, and attorney fees; the Department of Revenue may suspend or revoke dealer licenses for repeated violations