HB0221 - Tennessee - Motor Vehicle Commission, Motor Vehicles, Motor Vehicles, Titling And Registration

Companion Bill SB0267. Motor Vehicles - Requires motor vehicle dealers to pay off the agreed upon indebtedness on the trade-in vehicle within 30 days after the dealer has received actual payment on the financing contract for the new motor vehicle. - Amends TCA Title 47, Chapter 2 and Title 55. Fiscal Summary for *HB0221 / SB0267State Revenues - Net Impact - Not Significant State Expenditures - Net Impact - Not Significant Increase Local Govt. Revenues - Not Significant Increase Local Govt. Expenditures - Not Significant Bill Summary for *HB0221 / SB0267 Under present law, when a dealer sells a vehicle, the dealer must execute an assignment and warranty of title upon the certificate of title or the dealer must execute a bill of sale and deliver the same to the buyer, together with evidence of ownership. This bill adds that the [...]

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