1581 AMS HAUG S2633.1

HB 1581 - S AMD TO TRAN COMM AMD (S-2426.2/01) AMD 253

By Senators Haugen and Benton

    On page 3, line 8 of the amendment, after "party" insert "; or

(i) Any person who is regularly engaged in the business of acquiring leases or installment contracts by assignment, with respect to the acquisition and sale or other disposition of a motor vehicle in which the person has acquired an interest as a result of the business"

EFFECT:  Clarifies that companies regularly engaged in the business of acquiring leases or installment contracts by assignment are not required to be licensed as motor vehicle dealers.

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