5610-S.E2 AMH  MADS 8

2ESSB 5610 - H AMD 566 ADOPTED 3-1-00

By Representative ___

     On page 2, after line 12, insert the following:

     "Sec. 2.  RCW 46.70.028 and 1989 c 337 ' 13 are each amended to read as follows:

     Dealers who transact dealer business by consignment shall obtain a consignment contract for sale and shall comply with applicable provisions of chapter 46.70 RCW.  The dealer shall place all funds received from the sale of the consigned vehicle in a trust account until the sale is completed, except that the dealer shall pay any outstanding liens against the vehicle from these funds.  Where title has been delivered to the purchaser, the dealer shall pay the amount due a consignor within ten days after the sale.  However, in the case of a consignment from a licensed vehicle dealer from any state, the wholesale auto auction shall pay the consignor within twenty days.

NEW SECTION. Sec. 3.  If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected."

Correct the title.

EFFECT:  Increases the period of time from 10 days to 20 days within which a wholesale auto auction dealer must pay the amount due to the consignor (usually an auto dealer) in a consignment sale, and adds a severability clause.