41-3-207.5 - Liquidation of inventory for suspended used motor vehicle dealers. - Utah Statutes

41-3-207.5. Liquidation of inventory for suspended used motor vehicle dealers.
(1) A used motor vehicle dealer whose used motor vehicle dealer's license has beensuspended may liquidate any remaining inventory by selling the remaining used motor vehiclesto:
(a) a licensed auto auction;
(b) another licensed motor vehicle dealer; or
(c) to any person, but only after the used motor vehicle has been titled in the name of theowner, partner, or corporate officer of the used motor vehicle dealer for at least 12 months.
(2) A dealer may sell inventory under Subsections (1)(a) and (b) for up to 90 days fromthe date the dealer's used motor vehicle dealer's license was suspended.

Enacted by Chapter 388, 2008 General Session