46.2-1508.1 - Licensure of certain nonprofit organizations. - Virginia Statutes

§ 46.2-1508.1. Licensure of certain nonprofit organizations.

A. Any nonprofit organization exempt from taxation under § 501 (c) (3) of theInternal Revenue Code that (i) receives title to motor vehicles as qualifiedcharitable gifts to the organization, (ii) provides no more than twelve ofthese donated vehicles in any twelve-month period to low-income persons, asdefined in § 2.2-5400, in need of transportation, and (iii) receives from therecipients of the vehicles only reimbursement for the costs of repairs,towing, titles, taxes, license fees and inspection fees shall be required toobtain a dealer's license. However, such nonprofit organization shall beexempt from the requirements of § 46.2-1510, Article 3.1 (§ 46.2-1527.1 etseq.) of Chapter 15 of this title, §§ 46.2-1533, and 46.2-1534. Transactionsof such nonprofit organization shall not be subject to recovery from theMotor Vehicle Transaction Recovery Fund.

B. Upon application to and approval by the Board, any nonprofit organizationexempt from taxation under § 501 (c) (3) of the Internal Revenue Code may beissued a nonprofit organization certificate authorizing it to consign donatedmotor vehicles to licensed Virginia motor vehicle dealers when the nonprofitorganization receives title to such motor vehicles as qualified charitablegifts and titles the vehicles in the name of the nonprofit organization.

(1998, c. 393; 2000, c. 180.)