Sec. 503.036. REASSIGNMENT OF EVIDENCE OF OWNERSHIP; DEALER CATEGORIES. (a) The holder of a franchised motor vehicle dealer's general distinguishing number may buy, sell, or exchange new or used motor vehicles and reassign a manufacturer's certificate of origin, certificate of title, or other basic evidence of ownership of any type of vehicle owned by the dealer that the dealer is not otherwise prohibited by law from selling or offering for sale.
(b) The holder of an independent motor vehicle dealer's general distinguishing number or an independent mobility motor vehicle dealer's general distinguishing number may reassign a certificate of title or other basic evidence of ownership of any type of vehicle owned by the dealer that the dealer is not otherwise prohibited by law from selling or offering for sale.
(c) The holder of a wholesale motor vehicle dealer's general distinguishing number may sell or offer to sell motor vehicles to no person except:
(1) a person who holds a general distinguishing number; or
(2) a person who is legally recognized as and duly licensed or otherwise qualified as a dealer under the laws of another state or foreign jurisdiction.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 165, Sec. 30.69(h), eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 755, Sec. 2, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 710 (H.B. 2216), Sec. 7, eff. June 15, 2007.
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