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MS HB492

Bill

Official Source

Status

Failed

3/3/2020

Primary Sponsor

Larry Byrd

Click for details

Origin

House of Representatives

2020 Regular Session

AI Summary

  • Amends Mississippi Code Section 63-17-75 to require the Mississippi Motor Vehicle Commission to offer a distinct used motor vehicle dealer license category for limited-volume dealers.

  • Applies to persons whose only motor vehicle dealer activity involves purchasing five (5) or fewer vehicles per calendar year from auto auctions.

  • Allows the commission to determine a reduced liability insurance coverage amount for this license distinction, lower than standard dealer requirements.

  • Takes effect July 1, 2020.

Legislative Description

Used motor vehicle dealer; require MMVC to make available a distinction with less liability required for certain limited auto auction buyers.

Last Action

Died In Committee

3/3/2020

Committee Referrals

Insurance2/4/2020

Full Bill Text

No bill text available