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Introduced Version Senate Bill 540 History

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Key: Green = existing Code. Red = new code to be enacted
Senate Bill No. 540

(By Senators Dittmar, Plymale, Love, Bowman,

Unger, Helmick, Ross and Kessler)

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[Introduced February 15, 1999;

referred to the Committee on the Judiciary.]

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A BILL to amend article six, chapter seventeen-a of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section seventeen-a, relating to recognizing certain automobile dealer practices as proper.

Be it enacted by the Legislature of West Virginia:
That article six, chapter seventeen-a of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section seventeen-a, to read as follows:
ARTICLE 6. LICENSING OF DEALERS AND WRECKERS, ETC.
§17A-6-17a. Approved practices.
Notwithstanding any other provision of this code, a motor vehicle dealer may, consistent with applicable federal law and regulations, advance money to retire an amount owed against a motor vehicle used as a trade-in and finance repayment of that money in a retail installment contract.

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(NOTE: The purpose of this bill is to authorize motor vehicle dealers, consistent with recent changes in federal regulations, to advance money to retire liens against trade-ins and to finance repayment of that money in a retail installment contract.

This section is new; therefore, underlining and strike- throughs have been omitted.)
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